Drug Store
Walgreens Leasehold | Long Term Absolute NNN Lease | 5% Increases
977 US-98, Destin, FL 32541
Listing Price: $1,310,417
Cap Rate
12.00%
Tenant Name
Walgreen Co.
Years Remaining On Lease
10.4
Guarantor
Corporate Guarantee
Rentable SF
14,490
Lease Type
NNN Ground Lease
Rent Per Square Feet
$10.85
Investment Overview
See full marketing materials for details.
Walgreens Leasehold | Long Term Absolute NNN Lease | 5% Increases
Investment Highlights
- Leasehold Interest Only - The land is not available for sale. Land lease terms are set forth in the following pages
- 5% Rent Increases every 5-years during the primary term of the leasehold interest and 12, 5-year option periods
- Exceptional Retail Location situated less than 1/2 mile from Destin Beach on the city's main retail corridor
- $134,820 Average Household Income within a 1-mile radius that increases to $139,301 within a 5-mile radius
- Outstanding Visibility with frontage along US Highway 98, with average daily traffic counts of 51,102 VPD
- Well-Established Retail Location with over 22 years of operational history
Drug Store
Walgreens Leasehold | Long Term Absolute NNN Lease | 5% Increases
Listing Price: $1,310,417
Cap Rate
12.00%
Tenant Name
Walgreen Co.
Years Remaining On Lease
10.4
Guarantor
Corporate Guarantee
Rentable SF
14,490
Lease Type
NNN Ground Lease
Rent Per Square Feet
$10.85
Investment Highlights
- Leasehold Interest Only - The land is not available for sale. Land lease terms are set forth in the following pages
- 5% Rent Increases every 5-years during the primary term of the leasehold interest and 12, 5-year option periods
- Exceptional Retail Location situated less than 1/2 mile from Destin Beach on the city's main retail corridor
- $134,820 Average Household Income within a 1-mile radius that increases to $139,301 within a 5-mile radius
- Outstanding Visibility with frontage along US Highway 98, with average daily traffic counts of 51,102 VPD
- Well-Established Retail Location with over 22 years of operational history
Investment Overview
See full marketing materials for details.
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