Walgreens Absolute NNN Lease | Hard Signalized Corner | 54,700 VPD

6790 Daniels Pkwy, Fort Myers, FL 33912, USA
$7,278,350

Description

Marcus & Millichap is pleased to present for sale this Absolute Net Leased Walgreens located at 6790 Daniels Pkwy in Fort Myers, Florida. The subject property consists of a free-standing building comprised of 14,484 square feet of retail space and is situated on a large 1.88-acre parcel of land.
Strategically located adjacent to a Publix Anchored Shopping Center and on the Hard-Signalized Intersection of International Drive and Daniels Parkway, a major East-West thoroughfare, the property is highly visible to more than 54,700 vehicles per day. Walgreens is also conveniently located next to Gulf Coast Medical Center, a 356+ bed hospital that houses the Neuroscience Institute, Orthopedic Services, and General Surgery. The hospital is currently undergoing an expansion which will add three stories, 268 beds, an expanded radiology department, and  laboratories.
This location benefits from excellent demographics including over 138,966 full time residents in the immediate area with an average household income exceeding $100,000 in the 1-mile radius. The immediate trade area is also home to a number of National and Regional retailers including but not limited to Whole Foods Market, Panera Bread, Chase Bank, Truist, Bank of America, Publix, 7-Eleven, Target, Costco, Chick-Fil-A, and numerous others.
Walgreens originally executed a 25 Year Absolute Net-Lease when initially built in 2003. Walgreen’s initial term runs through August 31st, 2028 and has ten five-year options to extend.
Walgreens (NYSE: WBA) is a publicly traded company with an S&P Credit Rating of BBB and is ranked #17 in the Fortune 500 (2019). Some financial highlights include 2018 Revenues of $131.537 billion and 2018 Net Profits of $5.024 billion. Walgreen Co. operates over 8,200 stores in all 50 states, the District of Columbia, Puerto Rico and Guam. The company also operates worksite health centers, home care facilities, and specialty and mail service pharmacies.

  • Walgreens Corporate Guarantee (NYSE: WBA)
  • Investment Grade Tenant (S&P BBB)
  • Hard Signalized Corner with Great Visibility | Visible to Over 54,700 Vehicles/Day
  • Excellent Demographics | 138,966+ Full Time Residents in Immediate Trade Area
  • Affluent Market | Average Household Income Exceeds $100,000 in 1-Mile
  • Adjacent to Gulf Coast Medical Center | 365+ Bed Hospital housing the Neuroscience Institute, Orthopedic Services, and General Surgery
  • Gulf Coast Medical Center Currently Undergoing Expansion | Adding Three Stories, 268 Beds, Expanded Radiology Department, and Laboratories.
  • Absolute NNN Lease | Zero Landlord Responsibility
  • Fee Simple Allowing for Depreciation
  • Drive-Thru Pharmacy
  • Florida Is a No Income Tax State

Property Documents

  • Walgreens-Fort-Myers-FL-om-ib
  • City: Fort Myers
  • State/county: Florida
  • Zip/Postal Code: 33912
  • Country: United States

Detail

  • Price: $7,278,350
  • Year Built: 2003

Additional details

  • CAP RATE: 4.85%
  • NOI: $353,000

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