Retail

Walgreens - 5995 Mobile HWY - Pensacola, FL

Mobile Hwy, Pensacola, FL, 32526, US

Walgreens - 5995 Mobile HWY - Pensacola, FL_Property for Sale

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Walgreens - 5995 Mobile HWY - Pensacola, FL 2_Property for Sale

Asset description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale the opportunity to acquire the fee-simple interest in a Walgreens located at 5995 Mobile Highway in Pensacola, Florida (the “Property” or “Asset”). Due to its warm climate and pro-business environment, Pensacola has experienced a fast economic recovery from the pandemic relative to other tourist focused markets.


The Asset is strategically located at the lighted intersection of Mobile Highway and Saufley Field Road, an intersection that sees over 62,500 vehicles per day. The Asset gains additional traffic due to its ideal positioning directly next to Planet Fitness and across the street from a Publix anchored shopping center with additional retailers including Verizon Wireless and Firehouse Subs. The Property is also proximate to Belleview Elementary School and Belleview Middle School, which has a combined 1,600+ students enrolled, as well as the Pensacola Fair.


Due to its success, Walgreens will execute a brand-new 15-year absolute NNN lease on a low $212K annual rent at closing of escrow. Following the 15-year in-place lease term, there are twelve (12) 5-year extension options. 

Attributes

Asking Price
€3,787,000
Building area gross
1,346 sm
Occupancy
100.00%
Year built
2007

Investment highlights

  • Investment-grade tenant (S&P: BBB) on an absolute NNN lease with 15 years of term and an annual NOI of $212,279
  • Strong Reported Annual Sales of $2,400,000 (RX Excluded)
  • Proximate to two schools with a combined 1,600+ students enrolled
  • Located at the lighted intersection of Saufley Field Rd and Mobile Hwy (62,500 VPD)
  • Population of over 128,000 residents within a 5-mile radius of the Property
Walgreens - 5995 Mobile HWY - Pensacola, FL 4_Property for Sale
Walgreens - 5995 Mobile HWY - Pensacola, FL 4_Property for Sale

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Last updated
Mar 16, 2023