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Drug Store

Walgreens

11216 4th Ave W, Everett, WA 98204

Listing Price: $6,310,000

Cap Rate
6.50%
Tenant Name
Walgreens
Years Remaining On Lease
5.2
Guarantor
Corporate Guarantee
Rentable SF
14,490
Lease Type
Absolute Net
Rent Per Square Feet
$28.30

Investment Overview

Marcus & Millichap's Brown Retail Group has been selected to exclusively market for sale a corporate guaranteed Absolute NNN Walgreens. With over 5 years remaining on the 25-year Absolute NNN lease, and 10, 5-year options, the property offers a secure and consistent cash flow for the long-term. The Absolute NNN lease is guaranteed by Walgreens (Walgreens Boots Alliance Inc., NYSE: WBA) which has an S&P Investment Grade Credit Rating of BBB. The Property is strategically located at a signalized hard corner with a drive-thru providing excellent visibility and easy access. Situated adjacent to MorningStar Senior Living and surrounded by residential neighborhoods and schools, the property benefits from both high foot and vehicle traffic. The Property is located in the rapidly growing Everett, WA sub-market which has grown by over 15% in the last decade and is part of the Seattle MSA.

Investment Highlights

  • Strong Corporate Guarantee (NASDAQ: WBA | S&P: BBB)
  • Located Adjacent to 154-Room Retirement Community
  • Strong, Growing Store Sales
  • Recently Renovated
  • High-Traffic Store with Strong Visitor Counts
  • Signalized Hard Corner with High Traffic Counts COUNTS (44,000+ VPD)
  • Located in High-Growth Sub-Market with Affluent Demographics
  • 5+ Years of Term Remaining

Exclusively Listed By

Drug Store

Walgreens

Listing Price: $6,310,000

Cap Rate
6.50%
Tenant Name
Walgreens
Years Remaining On Lease
5.2
Guarantor
Corporate Guarantee
Rentable SF
14,490
Lease Type
Absolute Net
Rent Per Square Feet
$28.30

Investment Highlights

  • Strong Corporate Guarantee (NASDAQ: WBA | S&P: BBB)
  • Located Adjacent to 154-Room Retirement Community
  • Strong, Growing Store Sales
  • Recently Renovated
  • High-Traffic Store with Strong Visitor Counts
  • Signalized Hard Corner with High Traffic Counts COUNTS (44,000+ VPD)
  • Located in High-Growth Sub-Market with Affluent Demographics
  • 5+ Years of Term Remaining

Investment Overview

Marcus & Millichap's Brown Retail Group has been selected to exclusively market for sale a corporate guaranteed Absolute NNN Walgreens. With over 5 years remaining on the 25-year Absolute NNN lease, and 10, 5-year options, the property offers a secure and consistent cash flow for the long-term. The Absolute NNN lease is guaranteed by Walgreens (Walgreens Boots Alliance Inc., NYSE: WBA) which has an S&P Investment Grade Credit Rating of BBB. The Property is strategically located at a signalized hard corner with a drive-thru providing excellent visibility and easy access. Situated adjacent to MorningStar Senior Living and surrounded by residential neighborhoods and schools, the property benefits from both high foot and vehicle traffic. The Property is located in the rapidly growing Everett, WA sub-market which has grown by over 15% in the last decade and is part of the Seattle MSA.

Exclusively Listed By

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