Walgreens Absolute NNN Lease | Signalized Intersection

115 2nd Ave N, Sauk Rapids, MN 56379, USA
$12,900,000

Description

Marcus & Millichap is pleased to present for sale this fee simple Walgreens located in Sauk Rapids, Minnesota. The subject property consists of a freestanding building comprised of 14,490 square feet of retail space on a 1.59-acre parcel of land.
Strategically located at the hard-signalized intersection of 2nd Street N and Benton Drive N, the property is highly visible to 36,000 vehicles daily. In addition, it serves the immediate trade area which benefits from over 106,800 full time residents with an average household income exceeding $77,575 annually.
There are numerous national and regional retailers in the surrounding areas including Walmart, Sam’s Club, McDonald’s, Burger King, Speedway, Domino’s, and Coburn’s Superstore among many others.
Walgreens relocated to this store in 2011 from down the street and is performing very well at this location with $2,960,427 in reported store sales. Walgreens has about 15 years remaining on the initial term, with fifty, one-year options to extend.
Walgreens is the second largest drug retailer chain in the United States with over 9,277 locations. Walgreens is publicly traded on the New York Stock Exchange (WBA) with a market capitalization in excess of $42 Billion. Both Walgreens Co. and Walgreens Boots Alliance, Inc. are investment grade rated each with a Standard & Poor’s rating of BBB.

  • Investment Grade Credit | Corporate Guaranteed by Walgreens (NYSE: WBA)
  • Absolute Net Lease | Zero Landlord Responsibilities
  • Fee Simple Ownership Allowing for Depreciation
  • Average Household Income Exceeds $77,500 in the Trade Area
  • Situated at the North End of the Four-Lane Bridge Connecting St. Cloud to Sauk Rapids
  • Densely Populated Area | Over 106,8000 Residents within Five-Mile Radius
  • Daily Traffic Count Exceeds 36,000 Vehicles
  • Just North of St. Cloud Hospital – 489-bed Regional Hospital
  • Strong Sales | Reported $2,960,427*
  • Multiple New Apartment Projects in Immediate Area
  • Drive Thru Pharmacy

* Reported Sales Exclude 3rd Party Prescriptions (On Average Account for 67% of Sale)

Property Documents

  • Walgreens-Sauk-Rapids-MN-om-ib
  • City: Sauk Rapids
  • State/county: Minnesota
  • Zip/Postal Code: 56379
  • Country: United States

Detail

  • Price: $12,900,000
  • Year Built: 2011

Additional details

  • CAP RATE: 5.00%
  • NOI: $645,000

Features