Walgreens
Tavares, FL
Key Details
| Price: | $5,187,000 |
|---|---|
| Cap Rate: | 6.00% |
| Annual Rent: | $311,220 |
| Address: | 680 East Burleigh Boulevard, Tavares, Florida 32778 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 15 Years |
|---|---|
| Lease Commencement: | 8/28/2024 |
| Lease Expiration: | 8/31/2039 |
| Lease Term Remaining: | 14.6 Years |
| Rental Increases: | 5.00% Every 5 Years |
| Lot Size: | 1.90 Acres |
| Building Size: | 14,723 SF |
| Year Built: | 2009 |
NNN Pro is pleased to present the exclusive listing for a Walgreens located at 680 East Burleigh Boulevard, Tavares, Florida 32778. The site consists of roughly 14723 rentable square feet of building space on an estimated 1.9-acre parcel of land. This Walgreens is subject to a 15-year Triple Net (NNN) lease, which commenced 8/28/2024. The current annual rent is $311,220 and has scheduled increases of 5.00% Every 5 Years.
About the Investment
- Absolute Triple Net Lease Lease is absolute triple net, and there are no landlord responsibilities.
- Long-Term, 15-Year Lease with Rare Rental Increases of 5% Every Five Years Rental increases in CVS and Walgreens are rare, and this site has a best in class lease structure with 5% increases every 5 years. The lease commenced August 28, 2024 and continues until August 31, 2039.
- Lease Guaranteed by Walgreens Corporate Entity Walgreens is one of the nation's largest leading drugstore chains, operating 8,600+ drugstores with a presence in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. Walgreens is publicly traded on the NYSE under the ticket symbol "WBA" and amassed $142.4 billion in sales in 2023.
Key Details
| Price: | $5,187,000 |
|---|---|
| Cap Rate: | 6.00% |
| Annual Rent: | $311,220 |
| Address: | 680 East Burleigh Boulevard, Tavares, Florida 32778 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 15 Years |
|---|---|
| Lease Commencement: | 8/28/2024 |
| Lease Expiration: | 8/31/2039 |
| Lease Term Remaining: | 14.6 Years |
| Rental Increases: | 5.00% Every 5 Years |
| Lot Size: | 1.90 Acres |
| Building Size: | 14,723 SF |
| Year Built: | 2009 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Anthony D'Ambrosia
adambrosia@nnnpro.com
License: NY: 10401294012
Josh Kanter
jkanter@nnnpro.com
License: NY: 10401294056
Broker of Record
Brian Brockman
Bang Realty-Naples, Inc
License: BK3327646
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This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.