Walgreens - East Providence

600 Warren Ave East Providence , RI 02914

Walgreens - East Providence - Retail for sale

Download Offering Memorandum

Overview



Leasehold interest in a free-standing 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
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 13.7Yrs

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