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Drug Store

Walgreens

1204 1st Ave E, Newton, IA 50208

Listing Price: $5,000,000

Cap Rate
6.50%
Tenant Name
Walgreens
Years Remaining On Lease
8.1
Gross SF
15,120
Guarantor
Corporate Guarantee
Rentable SF
15,120
Price/Gross SF
$330.69
Lease Type
Double Net
Rent Per Square Feet
$21.49

Investment Overview

Walgreens is an American pharmaceutical company which operates the largest drug retailing chain in the United States of America. It specializes in serving prescriptions, health and wellness products, health information and photo services. As of 2021, the company operated 8,965 stores in all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. Situated in Central Iowa, Newton is located 30 miles from Des Moines on Historic U.S. Route 6, just off Interstate 80, in a region known as the "Crossroads of the Midwest." It is the county seat of, and most populous city in, Jasper County, Iowa and is home to nearly 16,000 residents. Newton provides its residents with a high quality of life and a strong business community.

Investment Highlights

  • Eight Years Remaining on Lease Term with Walgreens - Corporate Guaranty
  • 22 Year Operating History - Tenant has Occupied the Site Since 2000
  • Signalized Hard Corner Location Visible to a Combined 14,000 Plus Cars per Day at the Corner of 1st Avenue E and E 12th Street S
  • Across from Hy-Vee Grocery Store and Surrounded by National Retailers - O'Reilly Auto Parts, Anytime Fitness, Burger King, McDonald's, and More
  • One Mile East of Downtown Newton and MercyOne Newton Medical Center (One of the Largest Employers in Jasper County)
  • 23,490 Residents and 19,590 Daytime Employees Within a 10-Mile Radius with Average Household Income Exceeding $80,000
  • Within 40 Miles of Downtown Des Moines and Des Moines International Airport

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s) IA: B63379000

    Iowa

Financing By

Drug Store

Walgreens

Listing Price: $5,000,000

Cap Rate
6.50%
Tenant Name
Walgreens
Years Remaining On Lease
8.1
Gross SF
15,120
Guarantor
Corporate Guarantee
Rentable SF
15,120
Price/Gross SF
$330.69
Lease Type
Double Net
Rent Per Square Feet
$21.49

Investment Highlights

  • Eight Years Remaining on Lease Term with Walgreens - Corporate Guaranty
  • 22 Year Operating History - Tenant has Occupied the Site Since 2000
  • Signalized Hard Corner Location Visible to a Combined 14,000 Plus Cars per Day at the Corner of 1st Avenue E and E 12th Street S
  • Across from Hy-Vee Grocery Store and Surrounded by National Retailers - O'Reilly Auto Parts, Anytime Fitness, Burger King, McDonald's, and More
  • One Mile East of Downtown Newton and MercyOne Newton Medical Center (One of the Largest Employers in Jasper County)
  • 23,490 Residents and 19,590 Daytime Employees Within a 10-Mile Radius with Average Household Income Exceeding $80,000
  • Within 40 Miles of Downtown Des Moines and Des Moines International Airport

Investment Overview

Walgreens is an American pharmaceutical company which operates the largest drug retailing chain in the United States of America. It specializes in serving prescriptions, health and wellness products, health information and photo services. As of 2021, the company operated 8,965 stores in all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. Situated in Central Iowa, Newton is located 30 miles from Des Moines on Historic U.S. Route 6, just off Interstate 80, in a region known as the "Crossroads of the Midwest." It is the county seat of, and most populous city in, Jasper County, Iowa and is home to nearly 16,000 residents. Newton provides its residents with a high quality of life and a strong business community.

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s): IA: B63379000

    Iowa

Financing By

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