WAGS - Lake Worth, FL_Property for Sale
WAGS - Lake Worth, FL_Property for Sale
1001 N Dixie Hwy, Lake Worth, FL, 33460, US

WAGS - Lake Worth, FL

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 1001 North Dixie Highway, Lake Worth, FL (the “Property” or “Asset”). The Asset generates strong reported sales of $5.6 million annually (RX excluded). Due to its success, Walgreens will execute a brand-new absolute NNN 15-year lease at closing of escrow. The lease will feature 5.0% rent bumps every 5-years in the base term and options. Following the 15-year in-place lease term, there are twelve (12) 5-year extension options.

The Property benefits from the 12% population growth that has occurred in the past decade within a five-mile radius. The Asset is located in eastern Lake Worth near the Intercoastal Waterway, which provides access to the Atlantic Ocean. The Property is within a residential and retail trade area along North Dixie Highway and North 10th Avenue with direct exposure to over 57,500 vehicles per day. The property is down the street from Palm Coast Plaza, one a highly trafficked shopping center in the region with 22+ retailers and over 1.5 million visitors annually. It is less than five-miles from the Palm Beach County Park/Lantana Airport; Palm Beach State College, a 114-acre academic campus with over 30,000 students enrolled annually; and JFK Medical Center, an HCA Florida Health System, with 527 beds and 900+ affiliated physicians. 



Asking Price
Building area Gross
1,336 m²
Year built


Investment Highlights

  • Investment-grade tenant (S&P: BBB) on an absolute NNN lease with 15 years of term and an annual NOI of $359,450
  • Strong Reported Annual Sales of $5,600,000 (RX Excluded)
  • Proximate to Palm Beach State College, a 114-acre academic campus with over 30,0000 students enrolled annually
  • Less than 5 miles from Palm Beach County Park/Lantana Airport, Palm Beach International Airport, and JFK Medical Center
  • Located at the lighted intersection of N Dixie Hwy and N 10th Ave (57,500 VPD)
  • 12% population growth within a 5-mile radius of the Property
WAGS - Lake Worth, FL 4_Property for Sale
WAGS - Lake Worth, FL 4_Property for Sale

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WAGS - Lake Worth, FL (0 Properties)

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Last updated
11 Apr 2023