Walgreens - Fall River, MA

328 Rhode Island Ave
Fall River , MA 02721-2330

Walgreens - Fall River, MA - Retail for sale

Overview


Jones Lang LaSalle (JLL) is pleased to offer for sale the fee simple interest in a freestanding Walgreens (the Property, or Asset) located in Fall River, MA (Providence, RI MSA). Situated along Rhode Island Avenue (21,000+ VPD) and in close proximity to the Fall River Expressway (36,000+ VPD), the Asset is perfectly located to serve the Fall River market adjacent to many national retailers including Stop & Shop, Burlington Coat Factory, Harbor Freight Tools and many more. Walgreens Co. (the Tenant), is under an absolute NNN lease structure with no landlord responsibilities and over 14.1 years left of lease term. Walgreen Boots Alliance is the largest drug store company in the United States ranked by sales, and holds a BBB/Stable credit rating by Standard & Poors. The company is listed on the NASDAQ under ticker symbol WBA.

Investment Highlights


Leased on an absolute NNN basis to Walgreens with zero landlord obligations

The tenant has over 14.1 years of lease term remaining

Located in a highly dense market with 86,000+ residents in a 3 mile radius with an average household income of $54,000+

Located along Rhode Island Avenue (21,000+ VPD) and in close proximity to the Fall River Expressway (36,000+ VPD)

Adjacent to Fall River Shopping Center with national retailers Harbor Freight Tools, Burlington Coat Factory and Stop & Shop

South Coast Marketplace is also located in the vicinity with retailers Market Basket, Pet Smart, Staples, TJ Maxx, Old Navy, and Five Below

Walgreens holds an investment-grade rating of ‘BBB’ by Standard & Poor’s

Located 21 miles from downtown Providence, Rhode Island

Greater Providence is the third largest city in the New England area and is home to over 1.6 million residents
General
Property Type Retail
Tenure Type Sale / Purchase
Property Address 328 Rhode Island Ave, Fall River, MA 02721-2330
Building Size 14,820  ft2
Financial
Price $8,050,000
Cap Rate 6.15%
Current NOI $495,000.00
Lease

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