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Drug Store

Walgreens | 6 Locations - Must Be Purchased as a Portfolio

160 E Central St, Franklin, MA 02038

Listing Price: $9,212,980

Cap Rate
5.59%
Tenant Name
Walgreens
Years Remaining On Lease
12.3
Guarantor
Corporate Guarantee
Rentable SF
14,550
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$230.31

Investment Overview

Marcus & Millichap is pleased to present for sale a portfolio of six Walgreens drugstores in various locations. The stores all perform well as to sales, and have good to outstanding demographics regarding population density, average household income, and traffic counts. The stores are located in Virginia (DC. Metro), Texas (tax free state), Georgia (Atlanta), North Carolina, Maryland, and Massachusetts (Boston MSA). The properties must be sold as a portfolio due to a single non- recourse “blanket” mortgage on all six of them with the properties being cross collateralized. The loan is a CMBS loan that can be assumed by the Buyer. The original loan amount was $40,000,000 which was placed on the properties in December 2018 with a 10 year term, 30 year amortization and an interest rate of 5.25% (see financing information page for loan details). A fee simple interest is being offered with ownership of land and improvements so that the investor has depreciation and interest deductions. The remaining lease terms range between 12 and 14 years. The leases are absolute NNN with no landlord responsibilities of any kind. The properties were built between 2007 and 2009. Walgreens (NYSE: WBA) is a publicly traded company that is rated BBB by Standard & Poor’s, which is investment grade. Revenue in 2020 was $139 Billion, with a Net Worth of $47 Billion. Walgreens operates over 9,560 stores.

Investment Highlights

  • 5.59 Percent Cap Rate
  • Must be Purchased as a Portfolio
  • Outstanding Locations and Demographics
  • Strong Performing Stores

Exclusively Listed By

Financing By

Drug Store

Walgreens | 6 Locations - Must Be Purchased as a Portfolio

Listing Price: $9,212,980

Cap Rate
5.59%
Tenant Name
Walgreens
Years Remaining On Lease
12.3
Guarantor
Corporate Guarantee
Rentable SF
14,550
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$230.31

Investment Highlights

  • 5.59 Percent Cap Rate
  • Must be Purchased as a Portfolio
  • Outstanding Locations and Demographics
  • Strong Performing Stores

Investment Overview

Marcus & Millichap is pleased to present for sale a portfolio of six Walgreens drugstores in various locations. The stores all perform well as to sales, and have good to outstanding demographics regarding population density, average household income, and traffic counts. The stores are located in Virginia (DC. Metro), Texas (tax free state), Georgia (Atlanta), North Carolina, Maryland, and Massachusetts (Boston MSA). The properties must be sold as a portfolio due to a single non- recourse “blanket” mortgage on all six of them with the properties being cross collateralized. The loan is a CMBS loan that can be assumed by the Buyer. The original loan amount was $40,000,000 which was placed on the properties in December 2018 with a 10 year term, 30 year amortization and an interest rate of 5.25% (see financing information page for loan details). A fee simple interest is being offered with ownership of land and improvements so that the investor has depreciation and interest deductions. The remaining lease terms range between 12 and 14 years. The leases are absolute NNN with no landlord responsibilities of any kind. The properties were built between 2007 and 2009. Walgreens (NYSE: WBA) is a publicly traded company that is rated BBB by Standard & Poor’s, which is investment grade. Revenue in 2020 was $139 Billion, with a Net Worth of $47 Billion. Walgreens operates over 9,560 stores.

Exclusively Listed By

Financing By

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