Drug Store

Walgreens

5305 Indian River Rd, Virginia Beach, VA 23464

Listing Price: $6,560,001

Cap Rate
6.25%
Tenant Name
Walgreens
Years Remaining On Lease
10.10
Gross SF
14,820
Guarantor
Corporate Guarantee
Rentable SF
14,820
Price/Gross SF
$442.65
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$27.67

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Walgreens located at 5305 Indian River Road in Virginia Beach, Virginia. The site constructed in 2005, consists of roughly 14,820 rentable square feet of building space on estimated 2.01 acre parcel of land.
Walgreens is subject to a 25-year triple-net (NNN) lease, which commenced on June 1, 2005. The annual rent is $410,000. There are ten (10), five (5)-year tenant renewal options, extending the total possible lease term to 75 years.

Investment Highlights

  • Long-Term, 25-Year Absolute Triple Net (NNN) Lease
  • Ten (10), Five (5)-Year Tenant Renewal Options
  • Corporate Tenant | Corporate Guarantee

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

  • Dean Zang

    Executive Managing Director Investments

    (202) 536-3754

    Email Dean

    License(s): MD: 665335, VA: 0225239201

    Washington, D.C.

Listing Price: $6,560,001

Cap Rate
6.25%
Tenant Name
Walgreens
Years Remaining On Lease
10.10
Gross SF
14,820
Guarantor
Corporate Guarantee
Rentable SF
14,820
Price/Gross SF
$442.65
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$27.67

Investment Highlights

  • Long-Term, 25-Year Absolute Triple Net (NNN) Lease
  • Ten (10), Five (5)-Year Tenant Renewal Options
  • Corporate Tenant | Corporate Guarantee

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Walgreens located at 5305 Indian River Road in Virginia Beach, Virginia. The site constructed in 2005, consists of roughly 14,820 rentable square feet of building space on estimated 2.01 acre parcel of land.
Walgreens is subject to a 25-year triple-net (NNN) lease, which commenced on June 1, 2005. The annual rent is $410,000. There are ten (10), five (5)-year tenant renewal options, extending the total possible lease term to 75 years.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

  • Dean Zang

    Executive Managing Director Investments

    (202) 536-3754

    Email Dean

    License(s): MD: 665335, VA: 0225239201

    Washington, D.C.

MM Texture Background
MM Textured Background Lower