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Drug Store

Walgreens St Pete, FL | New 10-Year Lease Extension | Very Low Rent

875 9th Ave N, St. Petersburg, FL 33701

Listing Price: $3,217,391

Cap Rate
5.75%
Tenant Name
Walgreens
Years Remaining On Lease
10.0
Gross SF
14,208
Guarantor
Corporate Guarantee
Rentable SF
14,208
Price/Gross SF
$226.45
Lease Type
Double Net
Rent Per Square Feet
$13.02

Investment Overview

Marcus & Millichap is pleased to present for sale this Walgreens Pharmacy and
Drug Store located at 875 9th Avenue in Saint Petersburg,
Florida. Saint Petersburg is a city in Pinellas County, Florida with a population
of 258,308 making it the fifth-most populous city in Florida and the second largest
city in the Tampa Bay Area after Tampa. Along with Clearwater, it is part
of the St. Petersburg-Clearwater Metropolitan Statistical Area. Major employers
in St. Petersburg include Raymond James, John Hopkins Children’s Hospital,
Home Shopping Network, St. Anthony’s Hospital, Publix Super Markets, Fidelity
National Information Services, The Continental Group and Spectrum.
Colleges in the area include The University of South Florida at St. Petersburg with
3,944 enrolled students, St. Petersburg College with 24,543 enrolled students
and Pinellas Technical College.
Numerous apartment complexes surround this Walgreens Property including
Crescent Lake Apartments, Camden Central Apartments, 930 Flats, Cottonwood-
Bayview Apartments, Vantage St. Pete, Hermitage, Fusion 1560, 1701 Central
and Avanti.
Numerous hospitals are located in close vicinity to this Walgreens including 393-
Bed St. Anthony’s Hospital, and John Hopkins Children’s Hospital with 259-Beds.
Walgreens (NYSE: WBA) is a publicly traded company and one of the largest
drugstore chains in the U.S. Walgreens is part of the U.S. Retail Pharmacy
and U.S. Healthcare segments of Walgreens Boots Alliance, Inc, an American
multinational holding company and integrated healthcare, pharmacy and retail
leader. Operating more than 8,700 retail locations across the U.S. and Puerto Rico,
Walgreens serves nearly 9 million customers and patients daily. The company’s
approximately 26,000 pharmacists are playing a more critical role in healthcare
than ever before, providing a wide range of pharmacy and healthcare services,
including those that drive equitable access to care for some of the nation’s
most underserved populations. Walgreens offers customers and patients a true
omnichannel experience, with fully integrated physical and digital platforms
designed to deliver high-quality products and healthcare services. Within the
U.S. Healthcare segment, Walgreens portfolio also includes businesses in
primary care, multi-specialty, post-acute care, urgent care, specialty pharmacy
services, population health and provider entablements.

Investment Highlights

  • Walgreens Corporate Guarantee (NYSE: WBA)
  • Recently Extended 10 Year NN Lease Showing Strong Commitment to the Site | Transferrable Roof Warranty
  • Very Low Rent of $12 Per Square Foot | Strong Intrinsic Value
  • Hard Corner Signalized Intersection | Exposure to more than 20,800 Vehicles Per day
  • Fee Simple Allowing for Depreciation
  • Drive-Thru Pharmacy
  • Florida Is a No Income Tax State

Exclusively Listed By

Financing By

Drug Store

Walgreens St Pete, FL | New 10-Year Lease Extension | Very Low Rent

Listing Price: $3,217,391

Cap Rate
5.75%
Tenant Name
Walgreens
Years Remaining On Lease
10.0
Gross SF
14,208
Guarantor
Corporate Guarantee
Rentable SF
14,208
Price/Gross SF
$226.45
Lease Type
Double Net
Rent Per Square Feet
$13.02

Investment Highlights

  • Walgreens Corporate Guarantee (NYSE: WBA)
  • Recently Extended 10 Year NN Lease Showing Strong Commitment to the Site | Transferrable Roof Warranty
  • Very Low Rent of $12 Per Square Foot | Strong Intrinsic Value
  • Hard Corner Signalized Intersection | Exposure to more than 20,800 Vehicles Per day
  • Fee Simple Allowing for Depreciation
  • Drive-Thru Pharmacy
  • Florida Is a No Income Tax State

Investment Overview

Marcus & Millichap is pleased to present for sale this Walgreens Pharmacy and Drug Store located at 875 9th Avenue in Saint Petersburg, Florida. Saint Petersburg is a city in Pinellas County, Florida with a population of 258,308 making it the fifth-most populous city in Florida and the second largest city in the Tampa Bay Area after Tampa. Along with Clearwater, it is part of the St. Petersburg-Clearwater Metropolitan Statistical Area. Major employers in St. Petersburg include Raymond James, John Hopkins Children’s Hospital, Home Shopping Network, St. Anthony’s Hospital, Publix Super Markets, Fidelity National Information Services, The Continental Group and Spectrum. Colleges in the area include The University of South Florida at St. Petersburg with 3,944 enrolled students, St. Petersburg College with 24,543 enrolled students and Pinellas Technical College. Numerous apartment complexes surround this Walgreens Property including Crescent Lake Apartments, Camden Central Apartments, 930 Flats, Cottonwood- Bayview Apartments, Vantage St. Pete, Hermitage, Fusion 1560, 1701 Central and Avanti. Numerous hospitals are located in close vicinity to this Walgreens including 393- Bed St. Anthony’s Hospital, and John Hopkins Children’s Hospital with 259-Beds. Walgreens (NYSE: WBA) is a publicly traded company and one of the largest drugstore chains in the U.S. Walgreens is part of the U.S. Retail Pharmacy and U.S. Healthcare segments of Walgreens Boots Alliance, Inc, an American multinational holding company and integrated healthcare, pharmacy and retail leader. Operating more than 8,700 retail locations across the U.S. and Puerto Rico, Walgreens serves nearly 9 million customers and patients daily. The company’s approximately 26,000 pharmacists are playing a more critical role in healthcare than ever before, providing a wide range of pharmacy and healthcare services, including those that drive equitable access to care for some of the nation’s most underserved populations. Walgreens offers customers and patients a true omnichannel experience, with fully integrated physical and digital platforms designed to deliver high-quality products and healthcare services. Within the U.S. Healthcare segment, Walgreens portfolio also includes businesses in primary care, multi-specialty, post-acute care, urgent care, specialty pharmacy services, population health and provider entablements.

Exclusively Listed By

Financing By

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