Walgreens Absolute NNN Lease
18,475 SF | Retail Building | Winter Park, FL 32792 | $8,370,000 ($453/SF) | 5% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $8,370,000
- Property Type
-
Retail
- Square Feet
- 18,475 SF
- Price / Square Foot
- $453
Listing Contacts
Tyler Kolligian
Verified Profile
Kase Abusharkh
Verified Profile
- Property Info
Property Overview
The Kase Group is pleased to present the opportunity to purchase a top
performing Walgreens location in Winter Park, Florida with a new 15 Year
absolute NNN lease. The recently extended lease calls for zero landlord
obligations and is corporately guaranteed by Walgreens. There are 5%
increases every 5 years throughout the initial term and in each option with
twelve 5-year renewal options. The building sits on a generous 2.11 acre lot
outparcel to Advent Winter Park Hospital, a state-of-the-art, 422 bed medical
facility which boasts recognition as one of the top 100 hospitals within the
nation and additionally surrounded by various multiple healthcare facilities.
The site is strategically located on a hard corner along the highly-traveled
Aloma Avenue retail corridor, with exposure to 66,000 vehicles per day and
sits adjacent to Winter Park Corners Shopping Mall, anchored by Sprouts
Farmers Market which attracts over 1 million patrons annually. The store
further benefits from its location with 1 mile radius demographics of 10,000
residents with a $186,000 average household income.
performing Walgreens location in Winter Park, Florida with a new 15 Year
absolute NNN lease. The recently extended lease calls for zero landlord
obligations and is corporately guaranteed by Walgreens. There are 5%
increases every 5 years throughout the initial term and in each option with
twelve 5-year renewal options. The building sits on a generous 2.11 acre lot
outparcel to Advent Winter Park Hospital, a state-of-the-art, 422 bed medical
facility which boasts recognition as one of the top 100 hospitals within the
nation and additionally surrounded by various multiple healthcare facilities.
The site is strategically located on a hard corner along the highly-traveled
Aloma Avenue retail corridor, with exposure to 66,000 vehicles per day and
sits adjacent to Winter Park Corners Shopping Mall, anchored by Sprouts
Farmers Market which attracts over 1 million patrons annually. The store
further benefits from its location with 1 mile radius demographics of 10,000
residents with a $186,000 average household income.
Property Details
- Class
- B
- Year Built
- 1995
- Stories
- 1
- Property Subtype
- Drug Store
- Lot Size (sq. ft)
- 91,912 SF
Highlights
- 13 Years Remaining on Absolute NNN Lease
- High reported store sales of $8.4M (RX excluded)
- 5.0% Increases Every 5 Years
- Outparcel to state-of-the-art Advent Winter Park Hospital (422 bed)
- Top performing location ranked in the 82nd percentile of Walgreens stores by annual visits per Placer.ai
- Adjacent to Winter Park Corners Shopping Mall with 1 million annual visitors
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