Walgreens

Garfield Heights, Ohio

Offering Summary

  • Status: closed
  • Price: 5,565,000
  • CAP Rate: 6.90%
  • Term: 9 Years
  • Net Operating Income: $384,000
  • Price/SF: $390.80
  • Year(s) Built: 2004
  • Lot Size (Acres): 0.76
  • Lease Type: Absolute NNN
  • 14,560-Square-Foot Walgreens with 9 Years Remaining in Garfield Heights, Ohio (Cleveland MSA)
  • Absolute NNN Lease – Zero Landlord Responsibilities
  • Ten, 5-Year Options Remaining on Lease
  • Corporate Lease/Corporately-Run Store – Backed by Publicly-Traded Walgreens Boots Alliance (NASDAQ: WBA) with a $43.8 Billion Market Cap
  • Investment Grade Credit Tenant – Ratings of BBB (S&P) and Baa2 (Moody’s)
  • Strong Demographics; Population 13,296 Within 1 Mile and 100,797 Within 3 Miles
  • 0.7 Mile Away from Interstate 480, Which Sees Over 169,000 Vehicles Per Day
  • All-Brick Construction with Drive-Thru and Ample Parking
  • Walgreens is #19 on Fortune 500 | $137 Billion in Revenue with Over 9,000 Locations (FY 2019)
  • Located 9 Miles South of Downtown Cleveland with a Population of Over 380,000
EXCLUSIVELY LISTED BY:

Craig Fuller

Senior Managing Director