Walgreens - Westbrook, CT

1211 Boston Post Rd
Westbrook , CT 06498-1949

Walgreens - Westbrook, CT - Retail for sale

Overview


JLL is pleased to offer for sale the fee-simple interest in a freestanding, single-tenant Walgreens (the Property or Asset) located in Westbrook, Connecticut. The Property is subject to an absolute triple-net lease with 15 years of primary lease term remaining and rare primary term rental increases every five years, allowing future ownership to collect increasing returns on a passive investment for a long guaranteed period. Furthermore, the Property is strategically located in Westbrook Center, the downtown area of Westbrook, along Boston Post Road (U.S. Route 1) benefitting from strong traffic counts and an affluent population base surrounding the Property. This Offering presents the unique opportunity to acquire a rare increasing-rent pharmacy lease with outstanding returns over the course of a long-term lease paired with strong residual real estate value in southern Connecticut proximate to the Long Island Sound.

Investment Highlights


• 15 years remaining on an absolute NNN lease and 5% rent increases every five years

• Outstanding market share with the subject property drawing from affluent demographic base

• Nearest pharmacy location to the north is over 4 miles away

• Historically reported strong store sales

• Investment grade guaranty on the lease

• Westbrook, CT location just minutes away from the Long Island Sound

• Convenient Interstate accessibility
General
Property Type Retail
Property Subtype Shopping Center
Tenure Type Sale / Purchase
Property Address 1211 Boston Post Rd, Westbrook, CT 06498-1949
Land In Acres 1.57
Building Size 14,820  ft2
Financial
Price $8,532,000
Cap Rate 5.35%
Current NOI $456,456.00
Lease
Tenant's Name Walgreens Company
Guarantor Walgreen Company
Lease Type NNN
Lease Expiration Date 03/31/2033
Remaining Term 14Yrs
Download Offering Memorandum

Presented By

Other properties you may be interested in

  • Identity Group - Net Lease Industrial Portfolio, JLL PowerSearch
    Identity Group - Net Lease Industrial Portfolio
    Various - See Om For Details, TN
    Type(s):     Industrial
    Tenure(s):     Sale / Purchase
    Price ($USD):     8,000,000
    Space Available:     200,749 ft2
  • Bob's Discount Furniture - Stoughton, MA, Stoughton, JLL PowerSearch
    Bob's Discount Furniture - Stoughton, MA
    601 Technology Center DrStoughton, MA 02072-4719
    Type(s):     Retail
    Tenure(s):     Sale / Purchase
    Price ($USD):     9,390,000
    Space Available:     34,136 ft2
  • Walgreens - East Providence, East Providence, JLL PowerSearch
    Walgreens - East Providence
    600 Warren AveEast Providence, RI 02914-2808
    Type(s):     Retail
    Tenure(s):     Sale / Purchase
    Price ($USD):     3,790,850
    Space Available:     16,657 ft2
  • Bob's Discount Furniture, Orange, JLL PowerSearch
    Bob's Discount Furniture
    515 Boston Post RdOrange, CT 06477-3509
    Type(s):     Retail
    Tenure(s):     Sale / Purchase
    Price ($USD):     6,588,000
    Space Available:     28,024 ft2
  • Ashley HomeStore - Leasehold, Norwalk, JLL PowerSearch
    Ashley HomeStore - Leasehold
    51 Richards AveNorwalk, CT 06854-2309
    Type(s):     Retail
    Tenure(s):     Sale / Purchase
    Price ($USD):     Contact Us
    Space Available:     24,041 ft2
  • Walgreens, Roselle, JLL PowerSearch
    Walgreens
    120 E 1st AveRoselle, NJ 07203-1210
    Type(s):     Retail
    Tenure(s):     Sale / Purchase
    Price ($USD):     7,167,000
    Space Available:     12,975 ft2