Drug Store

Walgreens

120 W Railroad St, Long Beach, MS 39560

Listing Price: $4,400,000

Cap Rate
6.21%
Tenant Name
Walgreens
Years Remaining On Lease
9.2
Guarantor
Corporate Guarantee
Rentable SF
14,820
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$18.45

Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in Walgreens located at 120 W Railroad Street, Long Beach, MS. The property is situated on 1.63 acres and contains 14,820 square feet of net leasable area. Walgreens is subject to an absolute triple net lease, with a primary lease term expiring in October 2030. Walgreens has 10 five-year extension options. Long Beach, Mississippi is located just a few miles from Gulfport and Biloxi, Mississippi. Long Beach is nicknamed "The Friendly City” because of how helpful and courteous the residents are. Founded in 1901, Walgreen Company or simply Walgreens is the first global pharmacy-led, health and wellbeing enterprise in the world. Walgreens operates over 9,000 retail locations throughout the United States and employs more than 230,000 people. The company specializes in filling prescriptions, health and wellness products, health information and photo services.

Investment Highlights

  • Investment Grade Tenant S&P Rated BBB
  • Long Term Lease - Just Under 10 Years Remaining
  • Absolute NNN Lease - Zero Landlord Responsibilities
  • University of Southern Mississippi - Located Just 1.1 Miles Away With Over 14,500 Students
  • Average Household Income of Over $72,000 Within One Mile
  • Frontage on W Railroad Street - 11,800 Vehicles Per Day
  • Low Rent and High Residual Value (1.63 Acre Parcel)
  • No Competition - Only Drug Store Servicing Long Beach

Exclusively Listed By

Broker of Record

  • Mickey Davis

    Associate

    License(s): MS: 15586

    Mississippi

Listing Price: $4,400,000

Cap Rate
6.21%
Tenant Name
Walgreens
Years Remaining On Lease
9.2
Guarantor
Corporate Guarantee
Rentable SF
14,820
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$18.45

Investment Highlights

  • Investment Grade Tenant S&P Rated BBB
  • Long Term Lease - Just Under 10 Years Remaining
  • Absolute NNN Lease - Zero Landlord Responsibilities
  • University of Southern Mississippi - Located Just 1.1 Miles Away With Over 14,500 Students
  • Average Household Income of Over $72,000 Within One Mile
  • Frontage on W Railroad Street - 11,800 Vehicles Per Day
  • Low Rent and High Residual Value (1.63 Acre Parcel)
  • No Competition - Only Drug Store Servicing Long Beach

Investment Overview

Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in Walgreens located at 120 W Railroad Street, Long Beach, MS. The property is situated on 1.63 acres and contains 14,820 square feet of net leasable area. Walgreens is subject to an absolute triple net lease, with a primary lease term expiring in October 2030. Walgreens has 10 five-year extension options. Long Beach, Mississippi is located just a few miles from Gulfport and Biloxi, Mississippi. Long Beach is nicknamed "The Friendly City” because of how helpful and courteous the residents are. Founded in 1901, Walgreen Company or simply Walgreens is the first global pharmacy-led, health and wellbeing enterprise in the world. Walgreens operates over 9,000 retail locations throughout the United States and employs more than 230,000 people. The company specializes in filling prescriptions, health and wellness products, health information and photo services.

Exclusively Listed By

Broker of Record

  • Mickey Davis

    Associate

    License(s): MS: 15586

    Mississippi

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