Listed by SRS Louisville, SRS Real Estate Partners Newport Beach, Marcus & Millichap - San Diego
$4,800,000
Walgreens (Kingshighway Blvd)
Details
APN 482101-00670
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 10,635
Cap Rate 7.5%
NOI $360,000
Tenancy Single
Brand/Tenant Walgreens
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 07/17/2034
Remaining Term 8
Rent Bumps No
Lease Options 11 (5-year)
Year Built 2019
Buildings 1
Acreage 1.390
Zoning Neighborhood Commercial District
Parking Spaces 56 spaces
Parking per 1,000 SqFt 5.27
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 07/18/2019
Ground Lease No
Ownership Fee Simple (Land & Building)
Retail | 7.50% CAP | 10,635 SqFt
Marketing description
SRS Capital Markets is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, corporate guaranteed, drive-thru equipped, Walgreens investment property located in St. Louis, Missouri. The tenant, Walgreen Co., has 8 years remaining in their initial term with 11 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease is corporate guaranteed and is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor.
Investment highlights
- The tenant has over 8 years remaining in their initial term with 11 (5-year) options to extend, demonstrating their long-term commitment to the site
- Tenant pays for CAM, taxes, and insurance
- No landlord responsibilities
Listing Contacts
Listed by SRS Louisville, SRS Real Estate Partners Newport Beach, Marcus & Millichap - San Diego
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$360,000.00
$30,000.00/mo
Valuation Metrics
0
DSCR
7.5%
Cap Rate
7.5%
ROI
Map
Zoning
F CommercialNeighborhood CommercialNeighborhood Commercial District
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