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Drug Store

Walgreens | 7 Years Remaining | Abs. NNN | 24 Hour Location | Very Strong Sales

10686 University Ave NW, Minneapolis, MN 55448

Listing Price: $2,500,000

Cap Rate
5.71%
Tenant Name
Walgreens
Years Remaining On Lease
7.5
Guarantor
Corporate Guarantee
Rentable SF
13,133
Lease Type
Absolute Net
Rent Per Square Feet
$10.88

Investment Overview

Marcus & Millichap is pleased to bring to market Walgreens located just 20 minutes north of downtown Minneapolis, Minnesota. Walgreens Boots Alliance, Inc., together with its subsidiaries, operates a network of drugstores in the United States. It provides consumer goods and services, pharmacy, and health and wellness services through drugstores, as well as through mail, telephone and online. The company provides specialty pharmacy services and sells prescription and non-prescription drugs; general merchandise, including convenience and fresh foods, household items, personal care, photofinishing and candy, and beauty care. In addition, the company manages in-store convenient care clinics (Healthcare Clinics). It operates over 9,500 locations in 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. The company also manages approximately 400 Healthcare Clinics and provider practice locations.

Investment Highlights

  • Absolute Net Lease with Just Over Seven Years Remaining | Zero Landlord Responsibilities
  • Excellent Store Sales with a Strong Commitment to Location with Over 35-Years of Occupancy | Six, Five-Year Renewal Options
  • Corporate Guarantee | (NYSE: WBA) with S&P "BBB/Stable" Investment-Grade Credit
  • Walgreens is #19 on Fortune 500 | $139 Billion in Revenue (Fiscal Year 2020)
  • Hard Corner Location at the Signalized Intersection of Egret Boulevard NW and University Avenue NW Which Sees Over 25,000 Vehicles per Day
  • 38 Percent Median Household Income Growth Since 2000 Within Five Miles with 15 Percent Projected Growth By 2026
  • Nearly 190,000 Residents and Over 162,000 Employees Within Five Miles
  • 20 Minutes North of Downtown Minneapolis and 25 Minutes NW of Downtown St. Paul | TopTwo Most Populous Cites in Minnesota

Exclusively Listed By

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s) MN: 40583288

    Minnesota

Financing By

Drug Store

Walgreens | 7 Years Remaining | Abs. NNN | 24 Hour Location | Very Strong Sales

Listing Price: $2,500,000

Cap Rate
5.71%
Tenant Name
Walgreens
Years Remaining On Lease
7.5
Guarantor
Corporate Guarantee
Rentable SF
13,133
Lease Type
Absolute Net
Rent Per Square Feet
$10.88

Investment Highlights

  • Absolute Net Lease with Just Over Seven Years Remaining | Zero Landlord Responsibilities
  • Excellent Store Sales with a Strong Commitment to Location with Over 35-Years of Occupancy | Six, Five-Year Renewal Options
  • Corporate Guarantee | (NYSE: WBA) with S&P "BBB/Stable" Investment-Grade Credit
  • Walgreens is #19 on Fortune 500 | $139 Billion in Revenue (Fiscal Year 2020)
  • Hard Corner Location at the Signalized Intersection of Egret Boulevard NW and University Avenue NW Which Sees Over 25,000 Vehicles per Day
  • 38 Percent Median Household Income Growth Since 2000 Within Five Miles with 15 Percent Projected Growth By 2026
  • Nearly 190,000 Residents and Over 162,000 Employees Within Five Miles
  • 20 Minutes North of Downtown Minneapolis and 25 Minutes NW of Downtown St. Paul | TopTwo Most Populous Cites in Minnesota

Investment Overview

Marcus & Millichap is pleased to bring to market Walgreens located just 20 minutes north of downtown Minneapolis, Minnesota. Walgreens Boots Alliance, Inc., together with its subsidiaries, operates a network of drugstores in the United States. It provides consumer goods and services, pharmacy, and health and wellness services through drugstores, as well as through mail, telephone and online. The company provides specialty pharmacy services and sells prescription and non-prescription drugs; general merchandise, including convenience and fresh foods, household items, personal care, photofinishing and candy, and beauty care. In addition, the company manages in-store convenient care clinics (Healthcare Clinics). It operates over 9,500 locations in 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. The company also manages approximately 400 Healthcare Clinics and provider practice locations.

Exclusively Listed By

Broker of Record

  • Jon Ruzicka

    First Vice President Investments

    (952) 852-9700

    License(s): MN: 40583288

    Minnesota

Financing By

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