Walgreens - East Providence
600 Warren Ave East Providence , RI 02914

Walgreens - East Providence - retail for sale

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Overview



Leasehold interest in a freestanding Walgreens store for sale along Warren Avenue in East Providence. Situated adjacent to I-95 and only 3 miles from downtown Providence which has 95,000 residents with an $80,000 average household income. Providence is the third largest city in the New England area and is home to over 1.6 million.

Investment highlights


  • Property features an absolute NNN lease structure with an over 14.6-year term remaining
  • Zero landlord responsibilities
  • Highly desirable location
General
Property type Retail
Property subtype Single tenant/Standalone
Tenure type Sale/Purchase
Property address 600 Warren Ave, East Providence, RI 02914-2808
Market Providence
Building size 16,657  ft2
Year built 2008
Financial
Price $3,790,850
Cap rate 7.65%
Current NOI $290,000.00
Lease
Tenant's name Walgreens Boots Alliance, Inc
Credit rating (S&P) BBB
Lease type NNN
Annual rent $290,000.00
Lease expiration date 04/30/2033
Remaining term 13.4Yrs

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