Retail
Under Contract

Walgreens - Rhinelander, WI

421 S Eisenhower Pkwy, Rhinelander, WI, 54501-8361, US

Walgreens - Rhinelander, WI_Property for Sale

Gallery

Walgreens - Rhinelander, WI 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 421 S Eisenhower Pkwy, in Rhinelander, WI (the “Property” or “Asset”). The Asset is in the heart of the Rhinelander retail trade area situated at the hard corner of Eisenhower Pkwy and Lincoln St (combined ±12,200 vehicles per day).


The Property is in a dense retail corridor surrounded by major national retailers: Walmart Supercenter, Hobby Lobby, Kwik Trip, Home Depot and Dollar General. It is also proximate to Aspirus Rhinelander Hospital, a 99-bed, state-of-the-art medical facility with 50 specialists serving 4 local counties.


The Asset generates strong reported sales and is ranked in the 82nd percentile of Walgreens stores in the US by annual visits, per Placer.ai. Due to its success, recently executed on a brand-new absolute NNN 15-year lease with 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. 

Attributes

Asking Price
$5,905,000
Building area Net
10,706 sf
Occupancy
100.00%
Year built
2004

Investment highlights

PRIME REAL ESTATE – DENSE RETAIL CORRIDOR

  • Situated on the hard corner and centrally located within a desired retail trade area of Rhinelander, WI.
  • The prime location and surrounding retailers drive nearly 52,300 vehicles past the site daily.
  • Strong retail trade area surrounded by national retailers including Walmart Supercenter, Hobby Lobby, Kwik Trip, Home Depot, and Dollar General.
  • Proximate to Aspirus Rhinelander Hospital with 99 beds and 50 specialists serving residents in 4 local counties.

BRAND-NEW 15-YEAR LEASE

  • Strong reported sales at the property (available upon request).
  • The Property is ranked in the 82nd percentile of Walgreens stores in the US by annual visits, per Placer.ai.
  • Due to the strength of the location and performance, Walgreens executed a brand-new 15-year lease, representing their long-term commitment to the site.

ABSOLUTE NNN LEASE STRUCTURE

  • Optimal absolute net structure results in a truly passive investment with zero landlord responsibilities and a growing cash flow stream throughout the lease term.
Walgreens - Rhinelander, WI 4_Property for Sale

Contact brokers

Similar properties

View moreChevron Right
Do you have any questions? Visit our FAQ page
View FAQ PageArrow Right
JLL can help you finance and manage your portfolio. E-Mail us today to see how we can help achieve your ambitions.
Last updated
Nov 30, 2022