Miami, FL - Walgreens (SW 88th St)

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Walgreens investment property located in Miami, Florida. The tenant, Walgreens, Inc recently signed a brand new 15 year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 5% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily 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. Walgreens operates nearly 9,000 retail locations across the U.S. and Puerto Rico, Walgreens is proud to serve nearly 9 million customers and patients daily.

• The asset is located at the signalized, hard corner intersection of SW 112th Ave. and SW 88th St. with a combined 91,800 VPD
• The site benefits from nearby direct on/off ramp access to the Florida Turnpike, a major thoroughfare averaging over 126,000 vehicles passing by daily
• The asset has excellent visibility via significant street frontage and a large pylon sign
• Multiple points of ingress/egress