Walgreens - Margate, FL_Property for Sale
Walgreens - Margate, FL_Property for Sale
7150 W Atlantic Blvd, Margate, FL, 33063, US

Walgreens - Margate, FL

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale a single tenant Walgreens (the “Property” or “Asset”) offering in Margate, FL. Located at the corner of W Atlantic Blvd and Rock Island Rd, the Asset has prime exposure to over 72,000 VPD. The Property sits on an oversized 2.25-acre parcel adjacent to a Publix anchored shopping center. The surrounding 3-mile area is comprised of 193,000 residents, marking a 12.1% population increase since 2010. The Asset’s positioning on a highly trafficked intersection within a strong growth corridor is reflected in its performance. This Walgreens generates robust annual sales of $5.1 million (RX excluded) and ranks in the 84th percentile of most visited Walgreens locations, per Placer ai.

Due to its success at this location, Walgreens will execute a 15-year Absolute NNN lease with contractual increases and (12) 5-year renewal options upon closing of escrow. This Asset provides an opportunity to acquire a long-term cash flow guaranteed by Walgreens Corporate with zero landlord responsibilities.

In the unlikely event Walgreens elects to vacate the premise following its 15-year term, this Property would present a desirable redevelopment opportunity on an oversized lot with high traffic exposure in a growth market.

...

Attributes

Asking Price
A$10,603,000
Building area Gross
1,417 m²
Occupancy
100.00%
Year built
1999
Cap Rate
5.40%
NOI
A$573,000

Media

Investment Highlights

  • This location generates over $5 million in annual revenues (RX excluded) and ranks in the 84th percentile of most frequented Walgreens
  • Positioned on a 2.25-acre parcel on the corner of W Atlantic Blvd and Rock Island Rd with exposure to over 72,000 VPD
  • The surrounding 3-mile area has experienced a 12.1% population growth since 2010 
  • Brand-new 15-year Absolute NNN lease with periodic rent increases and Twelve (12) renewal options


Walgreens - Margate, FL 4_Property for Sale
Walgreens - Margate, FL 4_Property for Sale

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Walgreens - Margate, FL (0 Properties)

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Last updated
12 Apr 2023