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Drug Store

Walgreens (Dollar Tree)

342 Power Rd, Pawtucket, RI 02860

Listing Price: $3,037,614

Cap Rate
7.00%
Tenant Name
Walgreens
Years Remaining On Lease
7.1
Gross SF
11,575
Guarantor
Corporate Guarantee
Rentable SF
11,575
Price/Gross SF
$262.43
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$18.37

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Dollar Tree located at 342 Power Road in Pawtucket, RI. This was a former Rite Aid site that was acquired by Walgreens as part of their acquisition of Rite Aid properties in specific markets. This site was remodeled in 2013 as a part of Rite Aids Wellness Program, and features a large 1.3+ acre lot, a drive through, and two modes of ingress/egress. The site was subsequently subleased to Dollar Tree as there is another existing Walgreens 0.4 miles down the road. The population density in this area of Rhode Island is outstanding as there are over 19,000 residents within one mile of the site, and 166,000 residents within three miles of the property. This location serves the surrounding community as a neighborhood location, as it is surrounded by hundreds of multifamily homes. Aside from the population density and low rent at this location, the location offers a wide range of retenanting options given the large lot, four way signalized intersection, low rent, and drive through already on the site.

Investment Highlights

  • Acquisition by Walgreens Corporate | Extremely Low Rent Location
  • Complete Remodel by the Tenant in 2013 to Wellness Concept | Only Enacted on Highs
  • Drive Through Location with a Large 1.3+ Acre Lot with Ingress/

Exclusively Listed By

Broker of Record

  • John Horowitz

    First Vice President / District Manager

    License(s): RI: REC.0018863

    Rhode Island

Drug Store

Walgreens (Dollar Tree)

Listing Price: $3,037,614

Cap Rate
7.00%
Tenant Name
Walgreens
Years Remaining On Lease
7.1
Gross SF
11,575
Guarantor
Corporate Guarantee
Rentable SF
11,575
Price/Gross SF
$262.43
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$18.37

Investment Highlights

  • Acquisition by Walgreens Corporate | Extremely Low Rent Location
  • Complete Remodel by the Tenant in 2013 to Wellness Concept | Only Enacted on Highs
  • Drive Through Location with a Large 1.3+ Acre Lot with Ingress/

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Dollar Tree located at 342 Power Road in Pawtucket, RI. This was a former Rite Aid site that was acquired by Walgreens as part of their acquisition of Rite Aid properties in specific markets. This site was remodeled in 2013 as a part of Rite Aids Wellness Program, and features a large 1.3+ acre lot, a drive through, and two modes of ingress/egress. The site was subsequently subleased to Dollar Tree as there is another existing Walgreens 0.4 miles down the road. The population density in this area of Rhode Island is outstanding as there are over 19,000 residents within one mile of the site, and 166,000 residents within three miles of the property. This location serves the surrounding community as a neighborhood location, as it is surrounded by hundreds of multifamily homes. Aside from the population density and low rent at this location, the location offers a wide range of retenanting options given the large lot, four way signalized intersection, low rent, and drive through already on the site.

Exclusively Listed By

Broker of Record

  • John Horowitz

    First Vice President / District Manager

    License(s): RI: REC.0018863

    Rhode Island

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