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Walgreens | 5 Year NN Lease | Very Strong Sales

2075 US-1 S, St. Augustine, FL 32086, USA
$3,751,907

Description

Marcus & Millichap is pleased to present for sale this net leased Walgreens located at 2075 US -1 South in Saint Augustine, Florida.
The subject property consists of a 15,525 square feet building situated on a large 1.51-acre-parcel of land with a full service, pharmacy drive-thru window. This Walgreens is strategically located at the signalized intersection of Dixie Highway and Health Park Boulevard, with daily traffic counts in excess of 44,784 vehicles per day. This Walgreens is located directly across the street from Flagler Hospital, a 335 Bed Hospital that has been named among America’s 100 best Hospitals out of nearly 4,500 nationwide.
Walgreens recently exercised it’s second five year option, showing strong commitment to the site. The store experiences very strong sales and pays a low rent of $14.50 per square foot.
There are numerous National and Regional retailers in the immediate area including Walmart, Lowe’s, CVS, Bank of America, Sherwin Williams, Applebee’s, Outback, Harbor Freight tools, and many others.
Walgreens is the largest drug retailing chain in the United States and has over 8,100 locations in the U.S.A. Walgreens is publicly traded on the New York Stock Exchange (WBA) with a market capitalization in excess of $90 billion. Both Walgreen Co. and Walgreens Boots Alliance, Inc. are investment grade rated each with a Standard & Poor’s rating of BBB.

  • Located at a hard corner signalized intersection directly across the street from Flagler Hospital (Named among America’s top 100 Hospitals out of 4,500)
  • Walgreens experiences very strong sales and pays a low rent of $14.50 Per Square foot
  • Long operating history at this location (since 1994) with an established customer base. Walgreens recently exercised it’s second (5 year) option showing commitment to the site
  • Traffic Counts Exceed 44,784 Vehicles Per Day
  • Average Household Income Exceeds $73,000 in a One Mile Radius
  • Drive Thru Pharmacy
  • Income Tax Free State

Property Documents

  • Walgreens-Saint-Augustine-FL-om-ib
  • City: Augustine
  • State/county: Florida
  • Zip/Postal Code: 32086
  • Country: United States

Detail

  • Price: $3,751,907

Additional details

  • CAP Rate: 6.00%
  • NOI: $225,112

Features