Investment Overview

Marcus & Millichap is pleased to offer for sale the fee simple interest in a Walgreens property in Brandon, VT. The property at 1 Union Street represents a premier net-lease investment opportunity situated at a high-visibility corner in the heart of Brandon’s primary commercial district. This strategic location benefits from a prominent position at the intersection of Carver Street and Union Street, ensuring a constant flow of local and regional consumer traffic. The site is further bolstered by its proximity to established neighboring retailers, creating a "daily needs" synergy that draws from the broader Rutland County submarket. As a long-standing community staple with a proven operating history dating back to 1993, this location serves an established demographic, providing a reliable and deep customer base. Operating under a recently extended lease through March 31, 2055, Walgreens Eastern Co., Inc. continues to leverage this site’s dominant market position to maintain its status as the area’s premier neighborhood health destination. The investment offers a secure, highly passive income stream with an exceptionally competitive annual base rent of $92,000 ($7,666.66/month), providing an investor with a protected, low-basis entry point. This value is further insulated by a powerful 1.5-mile restrictive covenant, effectively granting the tenant a retail monopoly by preventing the development of competing drugstores on nearby land. Backed by a national pharmacy leader, this property combines the stability of an essential-retail tenant with the long-term upside of a 3% Gross Sales percentage rent clause. With a contractually guaranteed 8.7% rent escalation scheduled for 2035, which increases the monthly rent to $8,333.33, the asset is perfectly positioned to provide both immediate stability and long-term inflationary growth.