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Drug Store

Walgreens (Dark)

5525 West 12th Street, Little Rock, AR 72204

Listing Price: $2,179,636

Cap Rate
17.24%
Tenant Name
Walgreens Co.
Years Remaining On Lease
4.0
Gross SF
27,000
Guarantor
Corporate Guarantee
Rentable SF
27,000
Price/Gross SF
$80.73
Lease Type
Double Net
Rent Per Square Feet
$13.92

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a 2 property Walgreens portfolio located in Little Rock, Arkansas. The properties consist of 27,000 square feet of building space and sit on 2.65 acres of land. Both of the buildings were built in 1995. The two sites must be sold as a portfolio.

This Walgreens properties have approximately 6 years remaining on original 20-year double (NN) leases. The leases expire in 2025. The current combined annual net operating income is $375,855. Walgreens extended the leases for a firm 10 years in 2015, for a ten percent rent reduction. Walgreens has eight, five-year tenant renewal options. Additionally, the Baseline Road property has additional easement income from a neighboring Rallys property.

Investment Highlights

  • Double-Net (NN) Leases with Approximately Six (6) Years Remaining
  • 10 Year Term Extension in 2015 at a 10% Rent Reduction
  • Eight (8), Five (5)-Year Tenant Renewal Options
  • Corporate Guarantee from Walgreens Co. (NYSE: WBA)
  • Investment Grade Credit - S&P Rating: BBB

Exclusively Listed By

Broker of Record

  • Anne Williams

    First Vice President Investments

    (901) 486-4376

    License(s) AR: PB00066390

    Arkansas

Listing Price: $2,179,636

Cap Rate
17.24%
Tenant Name
Walgreens Co.
Years Remaining On Lease
4.0
Gross SF
27,000
Guarantor
Corporate Guarantee
Rentable SF
27,000
Price/Gross SF
$80.73
Lease Type
Double Net
Rent Per Square Feet
$13.92

Investment Highlights

  • Double-Net (NN) Leases with Approximately Six (6) Years Remaining
  • 10 Year Term Extension in 2015 at a 10% Rent Reduction
  • Eight (8), Five (5)-Year Tenant Renewal Options
  • Corporate Guarantee from Walgreens Co. (NYSE: WBA)
  • Investment Grade Credit - S&P Rating: BBB

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a 2 property Walgreens portfolio located in Little Rock, Arkansas. The properties consist of 27,000 square feet of building space and sit on 2.65 acres of land. Both of the buildings were built in 1995. The two sites must be sold as a portfolio.

This Walgreens properties have approximately 6 years remaining on original 20-year double (NN) leases. The leases expire in 2025. The current combined annual net operating income is $375,855. Walgreens extended the leases for a firm 10 years in 2015, for a ten percent rent reduction. Walgreens has eight, five-year tenant renewal options. Additionally, the Baseline Road property has additional easement income from a neighboring Rallys property.

Exclusively Listed By

Broker of Record

  • Anne Williams

    First Vice President Investments

    (901) 486-4376

    License(s): AR: PB00066390

    Arkansas

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