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Drug Store

Walgreens | 10+ Years Firm Term Remaining (Dark) | Absolute NNN Lease | Near Ford Assembly Plant

358 NE 69th St, Kansas City, MO 64118

Listing Price: $4,221,350

Cap Rate
8.00%
Tenant Name
Walgreens
Years Remaining On Lease
10.6
Guarantor
Corporate Guarantee
Rentable SF
14,820
Lease Type
Absolute Net
Rent Per Square Feet
$22.79

Investment Overview

The subject offering is a long-term leased Walgreens Pharmacy located in Claycomo, Missouri. The building has been vacated and is currently unoccupied by Walgreens at this time, however, there are 10+ years of firm lease term remaining on the current lease with more than $3.5 Million of net base rental still to be collected over the remaining lease term, which runs until December 31, 3033. In addition to base rent, Walgreens is also responsible for all expenses at the subject site including property taxes, insurance and roof & structure. The offering presents an ideal investment for a Buyer seeking a best-in-class investment-grade corporate tenant ranked #18 in the Fortune 500. This offering will allow an incoming investor the opportunity to collect immediate passive income on a long-term lease with an investment-grade corporate tenant while determining next steps & strategy on a potential relet or redevelopment strategy. Given that Walgreens is responsible for all expenses at the subject site during their lease term, an incoming investor will have no carrying costs for this site unlike many other redevelopment or development projects.

Investment Highlights

  • Passive Lease Structure – Tenant Responsible for CAM, Taxes, Insurance and Roof and Structure
  • Absolute NNN Lease Structure
  • Redevelopment Potential
  • Directly Off Interstate 435 and Close Proximity to Ford Assembly Plant

Exclusively Listed By

Broker of Record

  • Dave Saverin

    Regional Manager

    (314) 889-2500

    License(s) MO: 2008013520

    Missouri

Drug Store

Walgreens | 10+ Years Firm Term Remaining (Dark) | Absolute NNN Lease | Near Ford Assembly Plant

Listing Price: $4,221,350

Cap Rate
8.00%
Tenant Name
Walgreens
Years Remaining On Lease
10.6
Guarantor
Corporate Guarantee
Rentable SF
14,820
Lease Type
Absolute Net
Rent Per Square Feet
$22.79

Investment Highlights

  • Passive Lease Structure – Tenant Responsible for CAM, Taxes, Insurance and Roof and Structure
  • Absolute NNN Lease Structure
  • Redevelopment Potential
  • Directly Off Interstate 435 and Close Proximity to Ford Assembly Plant

Investment Overview

The subject offering is a long-term leased Walgreens Pharmacy located in Claycomo, Missouri. The building has been vacated and is currently unoccupied by Walgreens at this time, however, there are 10+ years of firm lease term remaining on the current lease with more than $3.5 Million of net base rental still to be collected over the remaining lease term, which runs until December 31, 3033. In addition to base rent, Walgreens is also responsible for all expenses at the subject site including property taxes, insurance and roof & structure. The offering presents an ideal investment for a Buyer seeking a best-in-class investment-grade corporate tenant ranked #18 in the Fortune 500. This offering will allow an incoming investor the opportunity to collect immediate passive income on a long-term lease with an investment-grade corporate tenant while determining next steps & strategy on a potential relet or redevelopment strategy. Given that Walgreens is responsible for all expenses at the subject site during their lease term, an incoming investor will have no carrying costs for this site unlike many other redevelopment or development projects.

Exclusively Listed By

Broker of Record

  • Dave Saverin

    Regional Manager

    (314) 889-2500

    License(s): MO: 2008013520

    Missouri

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