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Walgreens | 61,700 Vehicles Per Day

630 Blanding Blvd, Orange Park, FL 32073, USA
$3,815,384

Description

Marcus & Millichap is pleased to present for sale this net leased Walgreens located at 630 Blanding Boulevard, Orange Park in Florida.
The subject property consists of a 13,905 square feet and is situated on a large 2.50-acre-parcel of land with one full service, pharmacy drive-thru window. This Walgreens is strategically located at the signalized intersection of Blanding Boulevard and Constitution Drive, with daily traffic counts in excess of 61,700 vehicles per day. The property also benefits from over 138,000 full time residences with a house hold income exceeding 81,632, annually in a five mile radius.
There are just under three years remaining on the recently executed first five-year option and have seven more options left. The roof was replaced in 2017 and has a 15-years warranty.
There are numerous National and Regional retailers in the immediate area including LA Fitness, Starbucks, Aaron’s, Hertz, AT&T, Little Cesar, Marshalls, BJs, Regions Bank, Speedway and Verizon among 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 with more than 61,700 Vehicles Per Day
  • Located in the Jacksonville MSA which is experiencing explosive population growth (11% Projected Pop Growth by 2022)
  • Long operating history at this location (since 1997) with an established customer base. Walgreens recently exercised it’s first (5 year) option showing commitment to the site
  • New Roof in 2017 with a 15 Year Warranty
  • Drive Thru Pharmacy
  • Income Tax Free State

Property Documents

  • Walgreens-Orange-Park-FL-om-ib
  • City: Orange Park
  • State/county: Florida
  • Zip/Postal Code: 32073
  • Country: United States

Detail

  • Price: $3,815,384

Additional details

  • CAP Rate: 6.50%
  • NOI: $248,000

Features