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Drug Store

Walgreens

3340 Canoe Creek Rd, St. Cloud, FL 34772

Listing Price: $6,069,565

Cap Rate
5.75%
Tenant Name
Walgreens Pharmacy
Years Remaining On Lease
9.4
Guarantor
Corporate Guarantee
Rentable SF
14,761
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$23.64

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a Walgreens located in St. Cloud, FL (Orlando MSA). This lease offers a long-term triple-net (NNN) lease with the tenant in place for approximately 16 years showing a strong commitment to the site. The tenant has approx. 9.5 years remaining on the base term with ten, five-year tenant renewal options.

The property is positioned as an outparcel to a Publix-anchored center, situated as a focal point for incoming traffic. The average household income within a one-mile radius is $75,501, and it is anticipated to rise to $87,838 by 2027. The property is situated at the signalized intersection of Canoe Creek Road and Pine Tree Drive, experiencing a daily traffic count exceeding 36,000 vehicles. It is strategically placed with multiple retail centers within a five-mile radius. In the immediate area, several new free-standing retail projects have recently been established, featuring tenants like Wendy’s, Dunkin Donuts, Dollar Tree, AutoZone, and a multi-story climate-controlled self-storage facility.

Located just off Florida's Turnpike, a significant thoroughfare and primary north-south corridor, the turnpike serves as a crucial link connecting major cities and regions within the state, such as Orlando, Miami, Tampa, and Jacksonville. It provides a direct route for travelers moving between these key areas. The surrounding area features national retailers including Publix Supermarket, Walmart Supercenter, Winn-Dixie, Walmart Neighborhood Market, The Home Depot, Anytime Fitness, Pet Supermarket, Verizon, Great Clips, Dollar Tree, Family Dollar, Truist Bank, Mavis Tires & Brakes, AutoZone Auto Parts, O’Reilly Auto Parts, NAPA Auto Parts, Tire Kingdom, 7-Eleven, Wawa, Mobil, McDonald's, KFC, Wendy’s, Dunkin’ Donuts, Taco Bell, Burger King, Dairy Queen, IHOP, Chick-fil-A, Sonic, CVS, and many more.

Walgreens stands as the largest drugstore chain in the nation, with operations spanning over 13,500 pharmacies across all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. More than 8 million customers engage with Walgreens daily in communities throughout America. As of 2023, roughly 78 percent of the U.S. population resides within a five-mile radius of a Walgreens or Duane Reade Pharmacy.

Investment Highlights

  • Long-Term NNN Lease With Approx. 9.5 Years Remaining on Base Term
  • Long-Term Tenant, in Place for More Than 16 Years Showing a Strong Commitment to the Site
  • Lease is Guaranteed by Corporate Walgreens with Ten, Five-Year Tenant Renewal Options
  • Walgreens is the Nation's Largest Drugstore Chain, Operating More Than 13,500 Pharmacies Across All 50 States, the District of Columbia, Puerto Rico and the U.S. Virgin Islands
  • Outparcel to Publix-Anchored Center, Serving as a Focal Point for Incoming Traffic
  • Average Household Income of $75,501 Within One Mile, and Expected to Reach $87,838 by 2027
  • Located at the Signalized Intersection of Canoe Creek Road and Pine Tree Drive, With More Than 36,000 Vehicles Daily
  • Surrounding National Retailers Include Publix Supermarket, Walmart Supercenter, Winn-Dixie, Walmart Neighborhood Market, The Home Depot, Anytime Fitness, Pet Supermarket, Verizon, Great Clips, Dollar Tree, Family Dollar, Truist Bank, Mavis Tires & Brakes, AutoZone Auto Parts, O'Reilly Auto Parts, NAPA Auto Parts, Tire Kingdom, 7-Eleven, Wawa, Mobil, McDonald's, KFC, Wendy's, Dunkin' Donuts, Taco Bell, Burger King, Dairy Queen, IHOP, Chick-fil-A, Sonic, CVS and Many More

Exclusively Listed By

Listing Price: $6,069,565

Cap Rate
5.75%
Tenant Name
Walgreens Pharmacy
Years Remaining On Lease
9.4
Guarantor
Corporate Guarantee
Rentable SF
14,761
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$23.64

Investment Highlights

  • Long-Term NNN Lease With Approx. 9.5 Years Remaining on Base Term
  • Long-Term Tenant, in Place for More Than 16 Years Showing a Strong Commitment to the Site
  • Lease is Guaranteed by Corporate Walgreens with Ten, Five-Year Tenant Renewal Options
  • Walgreens is the Nation's Largest Drugstore Chain, Operating More Than 13,500 Pharmacies Across All 50 States, the District of Columbia, Puerto Rico and the U.S. Virgin Islands
  • Outparcel to Publix-Anchored Center, Serving as a Focal Point for Incoming Traffic
  • Average Household Income of $75,501 Within One Mile, and Expected to Reach $87,838 by 2027
  • Located at the Signalized Intersection of Canoe Creek Road and Pine Tree Drive, With More Than 36,000 Vehicles Daily
  • Surrounding National Retailers Include Publix Supermarket, Walmart Supercenter, Winn-Dixie, Walmart Neighborhood Market, The Home Depot, Anytime Fitness, Pet Supermarket, Verizon, Great Clips, Dollar Tree, Family Dollar, Truist Bank, Mavis Tires & Brakes, AutoZone Auto Parts, O'Reilly Auto Parts, NAPA Auto Parts, Tire Kingdom, 7-Eleven, Wawa, Mobil, McDonald's, KFC, Wendy's, Dunkin' Donuts, Taco Bell, Burger King, Dairy Queen, IHOP, Chick-fil-A, Sonic, CVS and Many More

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a Walgreens located in St. Cloud, FL (Orlando MSA). This lease offers a long-term triple-net (NNN) lease with the tenant in place for approximately 16 years showing a strong commitment to the site. The tenant has approx. 9.5 years remaining on the base term with ten, five-year tenant renewal options. The property is positioned as an outparcel to a Publix-anchored center, situated as a focal point for incoming traffic. The average household income within a one-mile radius is $75,501, and it is anticipated to rise to $87,838 by 2027. The property is situated at the signalized intersection of Canoe Creek Road and Pine Tree Drive, experiencing a daily traffic count exceeding 36,000 vehicles. It is strategically placed with multiple retail centers within a five-mile radius. In the immediate area, several new free-standing retail projects have recently been established, featuring tenants like Wendy’s, Dunkin Donuts, Dollar Tree, AutoZone, and a multi-story climate-controlled self-storage facility. Located just off Florida's Turnpike, a significant thoroughfare and primary north-south corridor, the turnpike serves as a crucial link connecting major cities and regions within the state, such as Orlando, Miami, Tampa, and Jacksonville. It provides a direct route for travelers moving between these key areas. The surrounding area features national retailers including Publix Supermarket, Walmart Supercenter, Winn-Dixie, Walmart Neighborhood Market, The Home Depot, Anytime Fitness, Pet Supermarket, Verizon, Great Clips, Dollar Tree, Family Dollar, Truist Bank, Mavis Tires & Brakes, AutoZone Auto Parts, O’Reilly Auto Parts, NAPA Auto Parts, Tire Kingdom, 7-Eleven, Wawa, Mobil, McDonald's, KFC, Wendy’s, Dunkin’ Donuts, Taco Bell, Burger King, Dairy Queen, IHOP, Chick-fil-A, Sonic, CVS, and many more. Walgreens stands as the largest drugstore chain in the nation, with operations spanning over 13,500 pharmacies across all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. More than 8 million customers engage with Walgreens daily in communities throughout America. As of 2023, roughly 78 percent of the U.S. population resides within a five-mile radius of a Walgreens or Duane Reade Pharmacy.

Exclusively Listed By

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