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Drug Store

Walgreens

1199 U.S. 49 Frontage Rd, Richland, MS 39218

Listing Price: $3,988,000

Cap Rate
8.50%
Tenant Name
Walgreens
Years Remaining On Lease
6.3
Gross SF
14,560
Guarantor
Corporate Guarantee
Rentable SF
14,560
Price/Gross SF
$273.90
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$23.28

Investment Overview

Marcus & Millichap is pleased to rpesent Walgreens in Richland, Mississippi. Walgreens is an American pharmaceutical company which operates the largest drug retailing chain in the United States of America. As of 2023, the company operates 8,700 stores in all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands.

Richland is a city in Rankin County, Mississippi, home to more than 7,000 residents comprising 2,645 households. A suburb of Jackson, Richland is part of the Jackson metropolitan area, southeast of the state capital.

Investment Highlights

  • Absolute Triple-Net (NNN) Lease with Corporate Walgreens Guaranty
  • Six Years Remaining on Lease Term with Multiple Renewal Options
  • 38,740 Residents within a Five Mile Radius - Growing Trade Area in the Jackson MSA
  • Signalized Hard Corner Location, Visible to Nearly 51,000 Cars per Day at the Intersection of Highway 49 South and Scarbrough Street
  • Dense Retail Corridor - Surrounding Tenants Include Walmart, Kroger, Burger King, McDonald's, and Tractor Supply Co
  • Directly Across from Richland High School (800 Students)
  • Located within a 20-Minute Drive of Downtown Jackson and Jackson-Medgar Wiley Evers International Airport
  • Walgreens Fiscal Year 2023 Sales Increased 4.8 Percent to $139.1 Billion; Quarter One 2024 Sales Increased 10 Percent Year-Over-Year to $36.7 Billion

Broker of Record

  • Mickey Davis

    Senior Associate

    (901) 620-3600

    License(s) MS: 15586

    Mississippi

Financing By

Listing Price: $3,988,000

Cap Rate
8.50%
Tenant Name
Walgreens
Years Remaining On Lease
6.3
Gross SF
14,560
Guarantor
Corporate Guarantee
Rentable SF
14,560
Price/Gross SF
$273.90
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$23.28

Investment Highlights

  • Absolute Triple-Net (NNN) Lease with Corporate Walgreens Guaranty
  • Six Years Remaining on Lease Term with Multiple Renewal Options
  • 38,740 Residents within a Five Mile Radius - Growing Trade Area in the Jackson MSA
  • Signalized Hard Corner Location, Visible to Nearly 51,000 Cars per Day at the Intersection of Highway 49 South and Scarbrough Street
  • Dense Retail Corridor - Surrounding Tenants Include Walmart, Kroger, Burger King, McDonald's, and Tractor Supply Co
  • Directly Across from Richland High School (800 Students)
  • Located within a 20-Minute Drive of Downtown Jackson and Jackson-Medgar Wiley Evers International Airport
  • Walgreens Fiscal Year 2023 Sales Increased 4.8 Percent to $139.1 Billion; Quarter One 2024 Sales Increased 10 Percent Year-Over-Year to $36.7 Billion

Investment Overview

Marcus & Millichap is pleased to rpesent Walgreens in Richland, Mississippi. Walgreens is an American pharmaceutical company which operates the largest drug retailing chain in the United States of America. As of 2023, the company operates 8,700 stores in all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. Richland is a city in Rankin County, Mississippi, home to more than 7,000 residents comprising 2,645 households. A suburb of Jackson, Richland is part of the Jackson metropolitan area, southeast of the state capital.

Broker of Record

  • Mickey Davis

    Senior Associate

    (901) 620-3600

    License(s): MS: 15586

    Mississippi

Financing By

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