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Drug Store

Walgreens

1570 E Fairview Ave, Meridian, ID 83642

Listing Price: $5,044,250

Cap Rate
5.65%
Tenant Name
Walgreens
Years Remaining On Lease
9.1
Guarantor
Corporate Guarantee
Rentable SF
15,120
Lease Type
Double Net
Rent Per Square Feet
$18.85

Investment Overview

Marcus & Millichap is pleased to offer for sale the 100 percent fee simple interest in 1570 East Fairview Avenue (The Property), a 15,120 square foot building that is currently leased by Walgreen Co. (Moody’s Rating: ‘Baa2’) with over nine years of term remaining following a recent lease extension. The Property offers multiple points of ingress and egress off the lighted intersection of East Fairview Avenue and North Locust Grove. The property also includes drive through pharmacy capabilities and is surrounded by a diverse group of national retailers. This offering presents the opportunity to acquire a corporately guaranteed Walgreens property with stable investment grade income and minimal landlord responsibilities within a dynamic Boise/Meridian market.

Investment Highlights

  • Investment Grade Tenancy with Limited Landlord Responsibilities
  • Numerous New Construction Developments in the Immediate Area
  • Influx of capital in the Boise MSA has brought population growth of over 22% over the past 10 years
  • 29,000+ VPD along E. Fairview Avenue, Which Connects Boise and Meridian

Broker of Record

  • Adam A. Lewis

    Vice President/Regional Manager

    (303) 328-2000

    License(s) ID: DB54599

    Idaho

Listing Price: $5,044,250

Cap Rate
5.65%
Tenant Name
Walgreens
Years Remaining On Lease
9.1
Guarantor
Corporate Guarantee
Rentable SF
15,120
Lease Type
Double Net
Rent Per Square Feet
$18.85

Investment Highlights

  • Investment Grade Tenancy with Limited Landlord Responsibilities
  • Numerous New Construction Developments in the Immediate Area
  • Influx of capital in the Boise MSA has brought population growth of over 22% over the past 10 years
  • 29,000+ VPD along E. Fairview Avenue, Which Connects Boise and Meridian

Investment Overview

Marcus & Millichap is pleased to offer for sale the 100 percent fee simple interest in 1570 East Fairview Avenue (The Property), a 15,120 square foot building that is currently leased by Walgreen Co. (Moody’s Rating: ‘Baa2’) with over nine years of term remaining following a recent lease extension. The Property offers multiple points of ingress and egress off the lighted intersection of East Fairview Avenue and North Locust Grove. The property also includes drive through pharmacy capabilities and is surrounded by a diverse group of national retailers. This offering presents the opportunity to acquire a corporately guaranteed Walgreens property with stable investment grade income and minimal landlord responsibilities within a dynamic Boise/Meridian market.

Broker of Record

  • Adam A. Lewis

    Vice President/Regional Manager

    (303) 328-2000

    License(s): ID: DB54599

    Idaho

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