St. Louis, MO - Walgreens

Description:

SRS Capital Markets is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, corporate guaranteed, drive-thru equipped, Walgreens investment property located in St. Louis, Missouri. The tenant, Walgreen Co., has 8 years remaining in their initial term with 11 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease is corporate guaranteed and is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor.

The subject property is strategically located at the signalized, hard corner intersection of Southwest Avenue and S Kingshighway Boulevard, averaging a combined 52,200 vehicles passing by daily. The building is equipped with a drive-thru pharmacy, providing ease and convenience for customers. The site benefits from nearby direct on/off ramp access to Interstate 44 (91,400 VPD), one of the primary east/west thoroughfares traveling throughout the St. Louis MSA. In addition, the site is within close proximity of several national/credit tenants such as The Home Depot, Burlington, Office Depot, Big Lots, Dollar General, Family Dollar, and more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. The 5-mile trade area is supported by nearly 390,000 residents and 326,000 daytime employees. Residents within 1 mile of the subject property feature an average household income of $84,000.

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Listing ID: a28TP000002w6GnYAI