Drug Store

Walgreens | Palm Bay, FL | Absolute Net Lease | 16+ Yr Historical Occupancy | Across from Winn-Dixie

Listing Price: $5,083,333

Cap Rate
6.00%
Tenant Name
Walgreens
Years Remaining On Lease
8.90
Gross SF
14,560
Guarantor
Corporate Guarantee
Rentable SF
14,560
Price/Gross SF
$349.13
Lease Type
Absolute Net
Rent Per Square Feet
$20.95

Investment Overview

Palm Bay is a city in Brevard County, Florida. The city’s population was 103,190 at the 2010 United States Census, making it the most populous city in the county. It lies on Turkey Creek at the mouth of Indian River, which flows into the Atlantic Ocean and is a principal city of the Palm Bay-Melbourne-Titusville Metropolitan Statistical Area. The city of Palm Bay offers a high potential for growth, innovation and opportunities for businesses, both domestic and international. Palm Bay has enacted an aggressive Economic Development Program to assist existing businesses expand, to attract new businesses, and to make Palm Bay competitive with other cities in the State of Florida, and the Country. These incentives include job creation bonuses, loan guarantee programs, sales tax credits, and economic development zones. Brevard County is located in the east central portion of the U.S. state of Florida along the east Florida coast and bordered by the Atlantic Ocean. With an economy strongly influenced by the John F. Kennedy Space Center, Brevard County is also known as the Space Coast. As such, it was designated with the telephone area code 321, as in 3-2-1 liftoff.

Investment Highlights

  • Positioned Along Area's Major Retail & Traffic Corridor. Features Easy Access & Excellent Visibility with Daily Combined Traffic Counts Exceeding 36k Vehicles.
  • Walgreens is Ranked #17 on Fortune 500 List, #40 On Fortune 500 Global List and has a S&P Investment Grade Credit Rating of "BBB".
  • Palm Bay is One of the Fastest Growing and Most Culturally Diverse Community in Brevard County. Densely Populated Area: Featuring more than 128k People Residing within a 5-Mile Radius.
  • In Close Proximity to Eastern Florida State College Palm Bay Campus - Part of EFSC's College Program Offering 100+ Degrees & Certificates.
  • Located Across from a Winn-Dixie Anchored Power Center. Near Numerous other National Retailers including Walmart Supercenter, The Home Depot, Lowe's and many more.
  • Absolute Net Lease. 16 Year Historical Occupancy Demonstrating a Strong Commitment to the Location. This Location Serves Beer & Wine, and Features a Drive-Thru Pharmacy.

Exclusively Listed By

Drug Store

Walgreens | Palm Bay, FL | Absolute Net Lease | 16+ Yr Historical Occupancy | Across from Winn-Dixie

Listing Price: $5,083,333

Cap Rate
6.00%
Tenant Name
Walgreens
Years Remaining On Lease
8.90
Gross SF
14,560
Guarantor
Corporate Guarantee
Rentable SF
14,560
Price/Gross SF
$349.13
Lease Type
Absolute Net
Rent Per Square Feet
$20.95

Investment Highlights

  • Positioned Along Area's Major Retail & Traffic Corridor. Features Easy Access & Excellent Visibility with Daily Combined Traffic Counts Exceeding 36k Vehicles.
  • Walgreens is Ranked #17 on Fortune 500 List, #40 On Fortune 500 Global List and has a S&P Investment Grade Credit Rating of "BBB".
  • Palm Bay is One of the Fastest Growing and Most Culturally Diverse Community in Brevard County. Densely Populated Area: Featuring more than 128k People Residing within a 5-Mile Radius.
  • In Close Proximity to Eastern Florida State College Palm Bay Campus - Part of EFSC's College Program Offering 100+ Degrees & Certificates.
  • Located Across from a Winn-Dixie Anchored Power Center. Near Numerous other National Retailers including Walmart Supercenter, The Home Depot, Lowe's and many more.
  • Absolute Net Lease. 16 Year Historical Occupancy Demonstrating a Strong Commitment to the Location. This Location Serves Beer & Wine, and Features a Drive-Thru Pharmacy.

Investment Overview

Palm Bay is a city in Brevard County, Florida. The city’s population was 103,190 at the 2010 United States Census, making it the most populous city in the county. It lies on Turkey Creek at the mouth of Indian River, which flows into the Atlantic Ocean and is a principal city of the Palm Bay-Melbourne-Titusville Metropolitan Statistical Area. The city of Palm Bay offers a high potential for growth, innovation and opportunities for businesses, both domestic and international. Palm Bay has enacted an aggressive Economic Development Program to assist existing businesses expand, to attract new businesses, and to make Palm Bay competitive with other cities in the State of Florida, and the Country. These incentives include job creation bonuses, loan guarantee programs, sales tax credits, and economic development zones. Brevard County is located in the east central portion of the U.S. state of Florida along the east Florida coast and bordered by the Atlantic Ocean. With an economy strongly influenced by the John F. Kennedy Space Center, Brevard County is also known as the Space Coast. As such, it was designated with the telephone area code 321, as in 3-2-1 liftoff.

Exclusively Listed By

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