Skip to main content

Drug Store

Walgreens Absolute NNN East Coast

645 First Colonial Rd, Virginia Beach, VA 23454

Listing Price: $13,163,265

Cap Rate
4.90%
Tenant Name
Walgreens Boots Alliance
Years Remaining On Lease
12.9
Gross SF
14,200
Guarantor
Corporate Guarantee
Rentable SF
14,200
Price/Gross SF
$926.99
Lease Type
Absolute Net
Rent Per Square Feet
$45.42

Investment Overview

Marcus & Millichap is pleased to present an absolute triple net Walgreens built in 2015, build to suit.

Investment Highlights

  • Subject Property is a Trophy 14,200 Square Foot Build-to- Suit Prototypical Walgreens Drugstore, on a Highly Visible 1.36 Acre Hard Corner Lot With Exceptional Ingress/Egress
  • Extremely Strong Location Fundamentals for Prime Infill, Featuring an Absolute NNN Lease With Zero Landlord Responsibilities and Five, 10-Year Options
  • Investment Grade Credit Tenant Walgreens Boots Alliance (NASDAQ: WBA) Has a Long-Term Credit Rating of Baa2 (Stable) From Moody's and Investment Grade Rating of BBB (Stable) From S&P
  • Strategic Location at Powerful Intersection of Two Major Thoroughfares With Combined Traffic Counts Exceeding 64,000 Vehicles Per Day | Situated on the Southwest Corner of Laskin Road (US Route 58 – 30,000 VPD) and First Colonial Road (34,000 VPD)
  • Twenty Internationally Based Firms Have Their United States or North American Headquarters in Virginia Beach, and it is Home to the Largest Active-Duty Military Population in the Country, Employing 108,822 People, Including Seven of the Top Ten Defense-Related Firms
  • US Route 58/Laskin Rd/Virginia Beach Boulevard is One of the Major Beach Corridors Connecting Norfolk to Atlantic Avenue at the Oceanfront. Permanent Drainage Easements and Temporary Access Easements Have Been Granted for the Future Roadway Widening of US Route 58 by Virginia Department of Traffic
  • A Well-Established Retail Corridor | Nearby National Retailers: Walmart Supercenter, Target, Starbucks, Burger King, Panera Bread, Whole Foods, Kroger, Total Wine & More, CVS, Rite Aid, Fresh Market, Office Depot, GNC, Great Clips, Game Stop, AT&T, Verizon, Discount Tire, T-Mobil, Outback Steakhouse, and Many More
  • The Main Airport Serving Virginia Beach is Norfolk International Airport Which is Located Twenty Five Miles (Twenty Minutes) Away From the Subject Property With More Then Two Hundred Flights In and Out Per Day

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President/ Division Manager

    (202) 536-3700

    License(s) VA: 0225247494

    Virginia

Drug Store

Walgreens Absolute NNN East Coast

Listing Price: $13,163,265

Cap Rate
4.90%
Tenant Name
Walgreens Boots Alliance
Years Remaining On Lease
12.9
Gross SF
14,200
Guarantor
Corporate Guarantee
Rentable SF
14,200
Price/Gross SF
$926.99
Lease Type
Absolute Net
Rent Per Square Feet
$45.42

Investment Highlights

  • Subject Property is a Trophy 14,200 Square Foot Build-to- Suit Prototypical Walgreens Drugstore, on a Highly Visible 1.36 Acre Hard Corner Lot With Exceptional Ingress/Egress
  • Extremely Strong Location Fundamentals for Prime Infill, Featuring an Absolute NNN Lease With Zero Landlord Responsibilities and Five, 10-Year Options
  • Investment Grade Credit Tenant Walgreens Boots Alliance (NASDAQ: WBA) Has a Long-Term Credit Rating of Baa2 (Stable) From Moody's and Investment Grade Rating of BBB (Stable) From S&P
  • Strategic Location at Powerful Intersection of Two Major Thoroughfares With Combined Traffic Counts Exceeding 64,000 Vehicles Per Day | Situated on the Southwest Corner of Laskin Road (US Route 58 – 30,000 VPD) and First Colonial Road (34,000 VPD)
  • Twenty Internationally Based Firms Have Their United States or North American Headquarters in Virginia Beach, and it is Home to the Largest Active-Duty Military Population in the Country, Employing 108,822 People, Including Seven of the Top Ten Defense-Related Firms
  • US Route 58/Laskin Rd/Virginia Beach Boulevard is One of the Major Beach Corridors Connecting Norfolk to Atlantic Avenue at the Oceanfront. Permanent Drainage Easements and Temporary Access Easements Have Been Granted for the Future Roadway Widening of US Route 58 by Virginia Department of Traffic
  • A Well-Established Retail Corridor | Nearby National Retailers: Walmart Supercenter, Target, Starbucks, Burger King, Panera Bread, Whole Foods, Kroger, Total Wine & More, CVS, Rite Aid, Fresh Market, Office Depot, GNC, Great Clips, Game Stop, AT&T, Verizon, Discount Tire, T-Mobil, Outback Steakhouse, and Many More
  • The Main Airport Serving Virginia Beach is Norfolk International Airport Which is Located Twenty Five Miles (Twenty Minutes) Away From the Subject Property With More Then Two Hundred Flights In and Out Per Day

Investment Overview

Marcus & Millichap is pleased to present an absolute triple net Walgreens built in 2015, build to suit.

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President/ Division Manager

    (202) 536-3700

    License(s): VA: 0225247494

    Virginia

MM Texture Background
MM Textured Background Lower