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Drug Store

Walgreens

1475 MAIN ST, Willimantic, CT 06226

Listing Price: $5,910,000

Cap Rate
6.00%
Tenant Name
Walgreens
Years Remaining On Lease
8.1
Guarantor
Corporate Guarantee
Rentable SF
13,650
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$25.98

Investment Overview

Marcus & Millichap is pleased to present for sale this Net Leased Walgreens located at 1475 Main Street, Willimantic, CT 06226. The subject property consists of a free-standing building comprised of 13,650 square feet of retail space and is situated on a 1.64-acre parcel of land. Strategically located on the Hard-Signalized Intersection of W Main Street and West Ave, the property is highly visible to more than 20,000 vehicles per day. It is also immediately off the exit of Interstate 6 which sees traffic counts in excess of 40,500 daily. This infill location benefits from good demographics including over 38,555 full time residents in the immediate area with an average household income exceeding $81,000 in a 5-mile radius. The immediate trade area is home to a number of National and Regional retailers including BJ’s, Bank of America, Planet Fitness, McDonald’s and many more. The property is also within close proximity of Eastern Connecticut State University. Walgreens executed a 25 Year Triple Net-Lease when originally built in 2004. There is currently 8.5 +/- years remaining in the base term. There are ten 5-year renewal options thereafter. The site also benefits from limited drugstore competition, with the nearest competing drugstore (aside from CVS directly across from subject) over 8 miles away. Walgreens (NYSE: WBA) is a publicly traded company with an S&P Credit Rating of BBB and is ranked #17 in the Fortune 500 (2019). Some financial highlights include 2018 Revenues of $131.537 billion and 2018 Net Profits of $5.024 billion. Walgreen Co. operates over 8,200 stores in all 50 states, the District of Columbia, Puerto Rico and Guam. The company also operates worksite health centers, home care facilities, and specialty and mail service pharmacies.

Investment Highlights

  • NNN Walgreens Located at 1475 Main Street, Willimantic, CT 06226
  • Subject Property Consists of a 13,650 square foot Free-Standing Building Situated on a 1.64-acre Parcel
  • Located on the Hard-Signalized Intersection of W Main Street and West Ave, the Property is Highly Visible to More Than 20,000 Vehicles Per Day.

Exclusively Listed By

  • Steven J. Siegel

    Licensed Associate Real Estate Broker

    (212) 430-5166

    Email Steven

    License(s): NY: 30SI0857139, NJ: 0015107, CT: REB.0754170

    Manhattan

  • Michael Kook

    Licensed Associate Real Estate Broker

    (212) 430-5169

    Email Michael

    License(s): NY: 10301216047, NY: 10491208242

    Manhattan

Broker of Record

  • John Krueger

    Vice President / Regional Manager

    (203) 672-3300

    License(s) CT: REB.0752012

    Connecticut

Listing Price: $5,910,000

Cap Rate
6.00%
Tenant Name
Walgreens
Years Remaining On Lease
8.1
Guarantor
Corporate Guarantee
Rentable SF
13,650
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$25.98

Investment Highlights

  • NNN Walgreens Located at 1475 Main Street, Willimantic, CT 06226
  • Subject Property Consists of a 13,650 square foot Free-Standing Building Situated on a 1.64-acre Parcel
  • Located on the Hard-Signalized Intersection of W Main Street and West Ave, the Property is Highly Visible to More Than 20,000 Vehicles Per Day.

Investment Overview

Marcus & Millichap is pleased to present for sale this Net Leased Walgreens located at 1475 Main Street, Willimantic, CT 06226. The subject property consists of a free-standing building comprised of 13,650 square feet of retail space and is situated on a 1.64-acre parcel of land. Strategically located on the Hard-Signalized Intersection of W Main Street and West Ave, the property is highly visible to more than 20,000 vehicles per day. It is also immediately off the exit of Interstate 6 which sees traffic counts in excess of 40,500 daily. This infill location benefits from good demographics including over 38,555 full time residents in the immediate area with an average household income exceeding $81,000 in a 5-mile radius. The immediate trade area is home to a number of National and Regional retailers including BJ’s, Bank of America, Planet Fitness, McDonald’s and many more. The property is also within close proximity of Eastern Connecticut State University. Walgreens executed a 25 Year Triple Net-Lease when originally built in 2004. There is currently 8.5 +/- years remaining in the base term. There are ten 5-year renewal options thereafter. The site also benefits from limited drugstore competition, with the nearest competing drugstore (aside from CVS directly across from subject) over 8 miles away. Walgreens (NYSE: WBA) is a publicly traded company with an S&P Credit Rating of BBB and is ranked #17 in the Fortune 500 (2019). Some financial highlights include 2018 Revenues of $131.537 billion and 2018 Net Profits of $5.024 billion. Walgreen Co. operates over 8,200 stores in all 50 states, the District of Columbia, Puerto Rico and Guam. The company also operates worksite health centers, home care facilities, and specialty and mail service pharmacies.

Exclusively Listed By

  • Steven J. Siegel

    Licensed Associate Real Estate Broker

    (212) 430-5166

    Email Steven

    License(s): NY: 30SI0857139, NJ: 0015107, CT: REB.0754170

    Manhattan

  • Michael Kook

    Licensed Associate Real Estate Broker

    (212) 430-5169

    Email Michael

    License(s): NY: 10301216047, NY: 10491208242

    Manhattan

Broker of Record

  • John Krueger

    Vice President / Regional Manager

    (203) 672-3300

    License(s): CT: REB.0752012

    Connecticut

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