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SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, investment grade (S&P: BBB) Walgreens investment property located in Altamonte Springs, Florida (Orlando MSA). The tenant, Walgreen Co., has over 5 years remaining on its current lease term with 10 (5-year) options to extend. The lease is guaranteed by the corporate entity (S&P:BBB) and is absoloute NNN with zero landlord responsibilities, making this an ideal, management-free investment opportunity for a passive investor. Headquartered in Deerfield IL, Walgreens operates more than 9,200 stores across all 50 states. Walgreens is currently number 16 on the list of Fortune 500 Companies.
The Walgreens is located near the signalized, hard corner intersection of State Hwy 436 and Maitland Ave with a combined (86,000 VPD). The site benefits from nearby direct on/off ramp access to Interstate 4, a major thoroughfare serving the state of Florida that averages over 149,000 vehicles per day. The site is ideally situated in a dense retail corridor, with numerous nearby national/credit tenants including 7-Eleven, Hobby Lobby, Advanced Auto Parts, Pepboys Auto, Taco Bell, Whole Foods, Publix, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. In addition, the subject property is located in close proximity to Altamonte Mall, a 1,000,000+ SF mall with over 120 stores, further increasing consumer traffic to the site. The Walgreens directly serves Advent Health(393 beds) a 199,000+ SF hospital that also has separate medical facilities that include a training center, sports medical rehab facility, and cardiology group. The 5-mile trade area is supported by over 251,000 residents and 145,000 employees, providing a direct consumer base from which to draw. Residents within the 5-mile trade area boast an affluent $100,000 average household income.
Over 5 Years Remaining | Corporate Guaranty |Investment Grade Tenant (S&P: BBB) | Options to Extend
Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
Dense Retail Corridor | Strong National/Credit Tenant Presence | Altamonte Mall (120 Stores) | Major Hospital (393 Beds)
Signalized, Hard Corner Intersection | Excellent Visibility & Access | Interstate 4 (149,000 VPD)
Strong Demographics in 5-Mile Trade Area | Six Figure Incomes | Orlando MSA
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