Marinette, WI - Walgreens

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, top-ranking, drive-thru pharmacy equipped, Walgreens investment property located in Marinette, WI. The tenant, Walgreen Co., has 10+ years of firm term remaining with an additional 10 (5-year) option periods left to extend. The lease features a one-time 14% rental increase at the beginning of the first option period, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor.

The Walgreens site is located between U.S. Highway 41, Hall Avenue, and Hattie Street averaging a combined 25,600+ vehicles passing by daily. U.S Highway 41 is a major commuter route that provides direct access into Green Bay (56 miles) and connects the surrounding cities. Walgreens is ideally situated in a strong retail trade area with major surrounding tenants including Culver’s, O’Reilly Auto Parts, AutoZone, Menards, ALDI, Tractor Supply Co., Walmart Supercenter, and many others. The strong tenant presence drives a steady stream of loyal, local consumers to the area, promoting crossover exposure and supporting the local economy. As a result, the subject is the number one most visited pharmacy within a 30-mile radius, with 285K+ annual visits (per Placer.ai). Furthermore, the property is near numerous single-family communities and multi-family complexes including Dunlap Square (63 units), Parkview Terrace (127 units), The Meadows (63 units), and others, providing a direct residential consumer base. The 5-mile trade area is supported by over 23,300 residents and 18,400 daytime employees with a healthy average household income of $72,927.

---

Report Listing This listing was syndicated through:

Listing ID: a28TP000002XW07YAG