NN Corporate Walgreens
Coral Springs (Ft. Lauderdale), FL
Contact: Derrick Schroeder - 954-296-6955
Dschroe@gmail.com


 
Price:
$3,131,500
NOI:
$238,950
CAP Rate: 7.60%
Building Size: 15,930± SF
Rent PSF: $15.00 (Below Market)
Lot Size: 1.92± Acres
Years Remaining on Lease: 7.5 Years
Options: 5 x Five Years
Year Built:
1997
Lease Commencement:
June 1997
Lease Expiration:
May 31, 2017
Net Lease Investment:
NN - Roof & Structure

Property Description:
We are pleased to present a 20 year NN Corporate Walgreens with ±7 years remaining on the lease. This location is reporting phenomenal store sales, $3,391,347 for 2009. The building is 15,930± SF (which includes a Walgreens Pharmacy & Walgreens Liquor store) and sits on 1.92± acres of land. It's situated in front of a brand new Super Target Center and across from a Regal Cinemas shopping center. There is assumable self liquidating debt in place with a current oustading balance of ±$1,300,000. The loan must be assumed and cash required is ±$1,831,500. The property will be free & clear in 2017.

Owner is Motivated, Bring All Reasonable Offers! A+ South Florida Location. Can also be purchased as a packaged deal with two other Walgreens properties located in Cape Coral, FL & Ft. Myers, FL.

Location:
It's located on a hard signalized corner off of University Blvd. A+ South Florida Location, within a 1 mile radius there are ±12,587 people and the average household income is ±$136,547.

About the Tenant: (NYSE: WAG) (Investment Grade S&P Rated: A+ & Moody's Rated: A2)
Walgreen Company is the nation's largest drugstore retailer in terms of sales, even though it has fewer store locations than its closest competitor CVS. Walgreens showed a 6.8% sales increase during August pushing their total sales for fiscal year 2009 up 7.3% to $63.35 billion. Walgreens and its competitor drugstores are engaged in the retail sale of prescription and non-prescription drugs and front-store products such as beauty care, personal care, household items, candy, photofinishing, greeting cards, convenience foods and seasonal items, as well as liquor and tobacco where permissible by law. As of August 31, 2009, Walgreens operated 6,996 locations in 49 states, the District of Columbia, Guam and Puerto Rico.

              • Corporate 20 Year NN Lease with ±7 years Remaining
              • Phenomenal Store Sales
              • Average Household Income with a 1 Mile Radius is $136,547
              • Way Below Market Rent, Only $15 PSF!
              • Walgreens Pharmacy + Walgreen Liquor Store
              • Minimal Landlord Obligations
              • Florida - No State Income Tax
              • Located on a Hard Signalized Corner in front on a Super Target
2009 Demographics
1 Mile
3 Mile
5 Mile
Population
12,587
111,812
265,522
Avg Household Income
$136,547
$109,401
$94,682
 
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The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

The properties shown on this website may or may not be exclusively listed by the Solid Investments team at Realty Associates Florida Properties. All information shown on www.solidinvestmentsfl.com is believed to be accurate, but is not warranted.

Solid Investments
of Realty Associates Florida Properties
3087 E. Commercial Blvd. Ft. Lauderdale, FL 33308