Drug Store

Walgreens & Mattress Firm

166 Walnut St, Saugus, MA 01906

Listing Price: $13,444,000

Cap Rate
5.73%
Tenant Name
Walgreens
Years Remaining On Lease
11.9
Gross SF
21,320
Guarantor
Corporate Guarantee
Rentable SF
21,320
Price/Gross SF
$630.58
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$36.16

Investment Overview

The subject property is a Walgreens and Mattress Firm building located directly on Route 1 in Saugus, Massachusetts. The building consists of 21,320 square feet of gross leasable area and sits on 2.26 acres of land. Walgreens occupies 70% of the building and operates on a NNN lease with 12 years remaining on the base term. Walgreens also has ten five-year options and has 100% control over the billboard overlooking Route 1. This Walgreens location has extremely high sales and includes a drive-thru. Mattress Firm occupies the other 30% of the building and operates on a NNN lease with two years remaining. Mattress Firm has one five-year option to extend their lease. The property is centrally located on Route 1 in Saugus with exceptional traffic counts (119,000+ daily). Directly at the property are full service on and off ramps with an overpass. Walgreens and Mattress Firm are 12 miles from Boston Logan International Airport. Besides I-93, Route 1 is the major roadway commuters use to access Boston from the North Shore. This roadway is a major retail corridor and has extremely strong demographics with over 317,000 people within a five mile radius. The average household income within one mile of the property is over $134,000. Other major retailers in the area include Bob’s Discount Furniture, Kohl’s, Bed Bath & Beyond, Trader Joe’s, Staples, Target, CVS, Marshalls, Michaels, The Home Depot, Walmart Supercenter, Ocean State Job Lot, Dick’s Sporting Goods, Macy’s, TJ Maxx, Best Buy and more.

Investment Highlights

  • 100% Occupied by Walgreens & Mattress Firm
  • Walgreens has 12 Years Remaining with 10 Five-Year Options
  • Centrally Located on Route 1 - ADT: 119,934

Exclusively Listed By

  • Laurie Ann Drinkwater

    Senior Vice President Investments

    (617) 896-7230

    Email Laurie Ann

    License(s): CT: REB.0751880, MA: 147511, RI: B 16787

    Boston

  • Seth J. Richard

    Licensed Real Estate Salesperson

    (212) 430-5164

    Email Seth

    License(s): CT: RES- 0764595, NY: 10401275108, MA: 149700

    Manhattan

Drug Store

Walgreens & Mattress Firm

Listing Price: $13,444,000

Cap Rate
5.73%
Tenant Name
Walgreens
Years Remaining On Lease
11.9
Gross SF
21,320
Guarantor
Corporate Guarantee
Rentable SF
21,320
Price/Gross SF
$630.58
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$36.16

Investment Highlights

  • 100% Occupied by Walgreens & Mattress Firm
  • Walgreens has 12 Years Remaining with 10 Five-Year Options
  • Centrally Located on Route 1 - ADT: 119,934

Investment Overview

The subject property is a Walgreens and Mattress Firm building located directly on Route 1 in Saugus, Massachusetts. The building consists of 21,320 square feet of gross leasable area and sits on 2.26 acres of land. Walgreens occupies 70% of the building and operates on a NNN lease with 12 years remaining on the base term. Walgreens also has ten five-year options and has 100% control over the billboard overlooking Route 1. This Walgreens location has extremely high sales and includes a drive-thru. Mattress Firm occupies the other 30% of the building and operates on a NNN lease with two years remaining. Mattress Firm has one five-year option to extend their lease. The property is centrally located on Route 1 in Saugus with exceptional traffic counts (119,000+ daily). Directly at the property are full service on and off ramps with an overpass. Walgreens and Mattress Firm are 12 miles from Boston Logan International Airport. Besides I-93, Route 1 is the major roadway commuters use to access Boston from the North Shore. This roadway is a major retail corridor and has extremely strong demographics with over 317,000 people within a five mile radius. The average household income within one mile of the property is over $134,000. Other major retailers in the area include Bob’s Discount Furniture, Kohl’s, Bed Bath & Beyond, Trader Joe’s, Staples, Target, CVS, Marshalls, Michaels, The Home Depot, Walmart Supercenter, Ocean State Job Lot, Dick’s Sporting Goods, Macy’s, TJ Maxx, Best Buy and more.

Exclusively Listed By

  • Laurie Ann Drinkwater

    Senior Vice President Investments

    (617) 896-7230

    Email Laurie Ann

    License(s): CT: REB.0751880, MA: 147511, RI: B 16787

    Boston

  • Seth J. Richard

    Licensed Real Estate Salesperson

    (212) 430-5164

    Email Seth

    License(s): CT: RES- 0764595, NY: 10401275108, MA: 149700

    Manhattan

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