See below recent list of Walgreens For Sale
| Price: | $9,300,000 |
|---|---|
| Status: | Available |
| CAP: | 5.00% |
| Years Left: | 14.6 |
| Lease Type: |
15 Years Remaining | Corporate Guaranteed | Investment Grade (S&P: BBB) | Scheduled Rental Increases. Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities. Signalized, Hard Corner Intersection.
| Price: | $6,990,000 |
|---|---|
| Status: | Available |
| CAP: | 5.15% |
| Years Left: | 15 |
| Lease Type: |
14,560-Square-Foot Walgreens with 9 Years Remaining in Garfield Heights, Ohio (Cleveland MSA). Absolute NNN Lease – Zero Landlord Responsibilities. Ten, 5-Year Options Remaining on Lease.
| Price: | $5,690,000 |
|---|---|
| Status: | Available |
| CAP: | 6.75% |
| Years Left: | 8.4 |
| Lease Type: |
Minimal Landlord Responsibilities. S&P Rated Bbb Investment Grade Credit. Corporate Guaranty – Nasdaq: WBA. 100% Fee Simple Interest. Early Extension Of Lease – Walgreens Showing Commitment To The Location.
| Price: | $4,104,348 |
|---|---|
| Status: | Available |
| CAP: | 5.75% |
| Years Left: | 10.3 |
| Lease Type: |
Investment Grade Tenant; Rated “BBB” by Standard & Poor’s. NOI – $396,600. This property is situated on a wrap corner parcel on the southeast corner of Goff Mountain Road (Route 622) (28,000 VPD) and Cross Lanes Drive/Washington Street (Route 62) (6,000 VPD).
| Price: | $6,600,000 |
|---|---|
| Status: | Available |
| CAP: | 6.00% |
| Years Left: | 17.7 |
| Lease Type: |
Strong store sales with low rent to sales ratio of 2.7%. 5+ Years Remaining. Well located on a major road. Long term tenant has been in the building since 1996. Low price point, well below replacement cost.
| Price: | $925,000 |
|---|---|
| Status: | Available |
| CAP: | 6.49% |
| Years Left: | 5.7 |
| Lease Type: |
Long Term Lease Remaining – 12+ Years with Options. Absolute NNN Lease. Strong Suburban Location. Income Tax Free State. Grocery Anchored. Hard Corner Location with Strong Traffic Counts.
| Price: | $7,725,000 |
|---|---|
| Status: | Available |
| CAP: | 5.48% |
| Years Left: | 12.2 |
| Lease Type: |
Long Term Absolute Net Lease – Zero Landlord Responsibilities. Located in Dense Retail Area. Affluent Area: Avg. HH Incomes Over $145,000. Preferred 5-Year Option Structure. Full Walgreens Corporate Guarantee.
| Price: | $9,225,000 |
|---|---|
| Status: | Available |
| CAP: | 6.00% |
| Years Left: | |
| Lease Type: |
No landlord responsibilities. This young community has the avg. age of 38 and above average HH incomes of $69,087 in a 3-mi radius. Lincoln Highway is the major thoroughfare for the community and roughly 30,000 cars per day pass the site.
| Price: | $6,707,412 |
|---|---|
| Status: | Available |
| CAP: | 5.80% |
| Years Left: | 12.7 |
| Lease Type: |
Average Household Income of Over $72,000 Within One Mile. Frontage on W Railroad Street – 11,800 Vehicles Per Day. Low Rent and High Residual Value (1.63 Acre Parcel). No Competition – Only Drug Store Servicing Long Beach.
| Price: | $4,400,000 |
|---|---|
| Status: | Available |
| CAP: | 6.21% |
| Years Left: | 9.2 |
| Lease Type: |
Signalized hard corner location. Across the street (0.1 miles) from Atrium Health Cleveland, a 241-bed hospital serving greater Cleveland County, NC, and the surrounding region. Absolute net lease with zero landlord responsibilities.
| Price: | $4,500,000 |
|---|---|
| Status: | Available |
| CAP: | 6.27% |
| Years Left: | 10 |
| Lease Type: |
More than 19,000 people live within a 10-mile radius of the Property with an average household income of more than $91,000. An average traffic count of 12,100 vehicles per day pass near the property at the intersection of Upper Main Street and Portland Street (Historic VT-100).
| Price: | $905,185 |
|---|---|
| Status: | Available |
| CAP: | 6.75% |
| Years Left: | 2.6 |
| Lease Type: |
Signalized Intersection / Hard Corner / (2) Drive Thru Lanes. Very Strong Sales of $10,000,000+. Top store in the region. 34,000+ Vehicles Per Day. 79,400+ – (3) Mile Population. $94,000+ – (3) Mile Average Household Income.
| Price: | $5,432,000 |
|---|---|
| Status: | Available |
| CAP: | 5.00% |
| Years Left: | 8.2 |
| Lease Type: |
True NNN lease with no landlord obligations. Strategically located near the areas’ largest medical center in the region (Mercy Health). Impressive visibility, with over 23,692 VPD pass in front of or near the site daily.
| Price: | $4,371,430 |
|---|---|
| Status: | Available |
| CAP: | 7.00% |
| Years Left: | 7.5 |
| Lease Type: |
Long term absolute NNN lease. Zero landlord responsibilities. S&P rated BBB investment grade credit. Nearby retailers include wal-mart super-center, Belk, mc-donald’s, chick-fil-a, murphy’s express, Wendy’s, and more.
| Price: | $5,500,000 |
|---|---|
| Status: | Available |
| CAP: | 6.00% |
| Years Left: | 12.6 |
| Lease Type: |
NNN Lease | Fee Simple Ownership | Minimal Landlord Responsibilities. Signalized, Hard Corner Intersection | Excellent Visibility & Access. Across from Twin County Regional Health Care Facilities | Nearby National/Credit Tenants. Limited Competition in Surrounding Area.
| Price: | $2,646,000 |
|---|---|
| Status: | Available |
| CAP: | 7.00% |
| Years Left: | |
| Lease Type: |
Walgreens property with a double-net Lease that has 6 years and 9 months remaining and includes six 5-year renewal options. Located near Interestate-94, traffic counts average over 135,000 daily and 23,000 vehicles daily on Brooklyn Boulevard.
| Price: | $3,482,066 |
|---|---|
| Status: | Available |
| CAP: | 6.00% |
| Years Left: | 6.8 |
| Lease Type: |
Situated on a Large ±1.63-Acre Lot – Well Positioned at Signalized Intersection (Hard Corner) where Traffic Counts Exceed 38,000 CPD. Affluent 2020 Demographics: Total Population (5-MI): 232,790 | Average Household Income (3-MI): $169,136.
| Price: | $4,922,000 |
|---|---|
| Status: | Available |
| CAP: | 5.75% |
| Years Left: | 11+ |
| Lease Type: |
Minimal Landlord Responsibilities. Signalized, Hard Corner Intersection | Excellent Visibility & Access. Across from Twin County Regional Health Care Facilities | Nearby National/Credit Tenants. Limited Competition in Surrounding Area.
| Price: | $2,646,000 |
|---|---|
| Status: | Available |
| CAP: | 7.00% |
| Years Left: | 6 |
| Lease Type: |
Walgreens is on a Four Way Signalized Intersection with excellent demographics and over 393,000 people within five miles. It is located in a national retail location for 40 years (previously a McDonald’s, Boston Market,Gino’s). Extremely below market ground rent at $5.95 PSF. Structured rental increases throughout the term. Renewal options: Ten, Five-Year Tenant options.
| Price: | $2,000,000 |
|---|---|
| Status: | Available |
| CAP: | 4.00% |
| Years Left: | 10 |
| Lease Type: |
Walgreen Co. (S&P: BBB), a subsidiary of Walgreens Boots Alliance Inc. (NASDAQ: WBA). The nearest CVS or Rite Aid (new Walgreens) are 1.5 miles and 1.8 miles away, respectively. Recently replaced the roof, restriped the parking lot, repainted columns and power-washed the property. Located on a hard corner at the signalized intersection of Milton Road and North Sharon Amity Road.
| Price: | $4,963,000 |
|---|---|
| Status: | Available |
| CAP: | 6.75% |
| Years Left: | 10.75 |
| Lease Type: |
Strong Store Sales Performance- Low Rent to Sales Ratio. Zero Landlord Responsibilities. Site Renovated to Wellness Concept in 2014. True Rite Aid Corporate Guarantee. Nearest Rite Aid or Walgreens from Subject Site: 3 Miles. Attractive 10% Rental Escalations in Option Periods. Prototype Freestanding Building with Drive-Thru.
| Price: | $4,006,000 |
|---|---|
| Status: | Available |
| CAP: | 7.00% |
| Years Left: | 12 |
| Lease Type: |
| Price: | $4,582,000 |
|---|---|
| Status: | Available |
| CAP: | 6.05% |
| Years Left: | 10.5 |
| Lease Type: |
| Price: | $8,974,359 |
|---|---|
| Status: | Available |
| CAP: | 5.85% |
| Years Left: | 16.5 |
| Lease Type: |
| Price: | $7,192,532 |
|---|---|
| Status: | Available |
| CAP: | 5.25% |
| Years Left: | 18 |
| Lease Type: |
Has a drive-thru which is open until 9PM. There is a CVS on the adjacent corner making this a strategic location for both Walgreens and CVS. Located at the signalized hard corner of University Avenue and Lincoln Avenue with combined traffic counts of 27,142 vehicles per day. Guaranteed by Walgreens and Starbucks. Both Walgreens (S&P BBB) and Starbucks (S&P A) parent companies are an investment grade.
| Price: | $12,887,466 |
|---|---|
| Status: | Available |
| CAP: | 4.50% |
| Years Left: | 20 |
| Lease Type: |
Exceptionally strong store sales with YOY increases for the past 5 years. Zero Landlord Responsibilities. Corporate guarantee from Walgreens Boots Alliance (NASDAQ: WBA). Adjacent to the famous Outlets at Silverthorne. Extremely high barriers to new competition. No nearby competition, closest Walgreens is 40 miles away.
| Price: | $7,740,000 |
|---|---|
| Status: | Available |
| CAP: | 5.25% |
| Years Left: | 15 |
| Lease Type: |
| Price: | $2,133,333 |
|---|---|
| Status: | Available |
| CAP: | 3.75% |
| Years Left: | 10 |
| Lease Type: |
With the stability of the retail pharmacy industry going strong, Walgreens Real Estate remains a strong, valuable net lease investment with minimal risk. They usually go with choice corner real estate, and prefer parcels of over one acre. This might range up to two acres, given Walgreens building dimensions are often around 14,500 square feet on average.
Though in some cases construction projects might be smaller or larger, anywhere from 10,800-15,000 sq. ft. In order to maintain market share against their biggest competitor CVS Pharmacy, they will also extend their initial lease terms to twenty five years, in addition to paying a premium to acquire a valuable real estate site.
Recently, 8-10 separate options to renew every 5 years went into effect, even extending lease lengths upwards to seventy five year terms. Interesting to note that after year 25, a yearly right-to-cancel clause is being added to contracts. Now while providing flexibility for Walgreen’s, it was not looked upon favorably by leaseholders. Primarily knowing that financing might be pulled out from beneath them at any given time after the base term expires.
Walgreens Real Estate are a great choice for investors who are seeking stable, long term cash flow and need to find a suitable replacement property for a 1031 Exchange. As the inventory for Walgreens For Sale is constantly changing please fill out a form to get an updated list of available Walgreens for Sale or other net lease properties that fit your acquisition criteria.
Pros
• Highly visible real estate
• Credit is investor-graded
• NNN leasing, absolute
Cons
• Primary rent fees are expensive No rental increases
• Rent bumps non-existent
• Renewal after primary term must include yearly termination option
Tenant Description
In 2014, the partnership of Walgreen’s and Alliance Boots formed into Walgreens Boots Alliance, Inc. As a result, they are now the biggest retail pharmacy operation in America and Europe. Their alliance is likely to secure future expansion with aging populations, as they currently have over thirteen thousand store locations in eleven countries globally.
The idea to merge was mutually beneficial, seeing that they could provide their services to the public more effectively. This was by way of lowering costs through wholesaling pharmacological products, and providing better health services on location. These types of interactions were intrinsically part of Walgreen’s company fabric, going back well over one hundred years.
Out of nearly 8200 Walgreen’s locations prior to the merger, Duane Reade stores are also factored into the total. Approximately 85% of this total are leased, and expect in coming years to ‘trim the fat’ by way of closing lesser performing stores. In the same breath, they will take those lost numbers and construct new buildings in different locations.