Apple Valley, MN - Walgreens

Description:

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, freestanding, Walgreens investment property located in Apple Valley, Minnesota (Minneapolis MSA). The tenant, Walgreens, Co. has 7 years remaining on their initial lease term with 10 (5-year) options to extend, demonstrating their commitment to the site. The lease is guaranteed by the corporate entity and is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. Operating nearly 9,000 retail locations across America, Puerto Rico and the U.S. Virgin Islands, Walgreens is proud to be a neighborhood health destination serving nearly 10 million customers each day.

The Walgreens is located at the signalized, hard corner intersection of Pilot Knob Rd. and 140th St W with a combined (42,800 VPD). The asset is ideally located in a dense retail corridor, with numerous nearby national/credit tenants including Kohl’s, Home Depot, Sam’s Club, Ulta, Anytime Fitness, Michaels, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. Furthermore, the site benefits from being directly across the street from Highland Elementary School (713 students) and Scott Highlands Middle School (1,188 students), further increasing consumer traffic to the site. The 5-mile trade area is supported by over 196,000 residents and 46,000 employees, providing a direct consumer base from which to draw. Residents within a 5-mile radius of the subject property boast an affluent average household income of $135,894.