WALGREENS. Price: $6,956,522 l NOI: $400,000 CAP: 5.75%

Transcription

1 WALGREENS 3900 North Federal Highway (US Rt.#1 at Spanish River Blvd), Boca Raton, FL Phone: Fax: Price: $6,956,522 l NOI: $400,000 CAP: 5.75% Public company (NYSE: WAG) with an S&P rating of A Key location on bridge to Highland Beach Area retailers include Publix, Bank of America, Wachovia, BP Gas, Chevron, Gold s Gym, Quizno s, Red Lobster, and Carvel Property will be delivered on a free and clear basis 10/31/2020 first termation option Corner of US-1 and Spanish River Blvd w/ 44,290 VPD Rare Hamptons commercial real estate with abundant parking

2 Property Investment Line Overview Map PROPERTY OVERVIEW: This ground leased fee interest consists of acres on which the tenant constructed a 14,451 sf building in This property is located at the busy intersection of Federal Highway (US#1) and Spanish River Blvd (NE 40 th st) in the high-wealth city of Boca Raton, located in Palm Beach county on the east coast of Florida between Palm Beach and Ft. Lauderdale. Within 5 miles of the property there are over 153,000 residents with an average household income of over $100,000. Boca Raton is home to many businesses as well as many restaurants, beaches, hotels and tourist activities. Traffic Counts on Federal Highway and Spanish River Blvd are 32,448 vpd and 18,419 vpd, respectively. Other area retailers include Bank of America, BP Gas, Chevron, Publix, Gold s Gym, Bookwise, Quizno s, Wachovia, Golf Center, Red Lobster and Carvel. This is the first retail property accessible over the bridge from Highland Beach (Walgreens store #5433). INVESTMENT SUMMARY Price: $6,956,522 CAP Rate: 5.75% NNN Rent: $400,000 Tenant: Walgreens (NYSE: WAG / S&P:A): Walgreen Co. is the largest drugstore chain in the United States of America. The company operates over 8,169 drugstores across all 50 states, the District of Columbia and Puerto Rico. Founded in Chicago, Illinois in 1901, and has since expanded throughout the United States, Walgreens is currently headquartered in the nearby suburb of Deerfield, Illinois. Lease Summary: Term: 60 years (may terminate after year 20, then every 5 years after that) Rent: $400,000 ($27.68 psf) flat in base terms and options Rent Commence: 11/1/1999 Lease Expiration: 10/31/2058 (first termination option in 10/31/2020) Percentage Rent: Percentage rent will be paid when 2% of gross sales + ½ % of gross sales of food & prescription items (except for sales of prescriptions pursuant to third party prescription plans) exceeds $466,156/year. Walgreens will pay as additional rent any amount over this number, with the total of fixed plus percentage rent not to exceed $816,516/year. Lease Type: This is an absolute triple net ground lease. Landlord has absolutely no maintenance, repair or replacement responsibility for the building or land, such responsibility being solely that of the tenant. Tenant insures the property and pays taxes and utilities directly. Bld. Sq Ft: Land Size: Lease Type: 14,451 sf ac Triple Net Lease INVESTMENT OVERVIEW

3 Area Property History Line Photographs Map PROPERTY PHOTOGRAPHS

4 NE 40 th St (16,247 VPD) Area Property History Line Photographs Map N Federal Hwy (28,046 VPD) PROPERTY PHOTOGRAPHS

5 Investment Property Floor PlanLine Overview Map FLOOR PLAN

6 Area Property Labeled History Aerial Line Map LABELED AERIAL

7 Property Location Line Map Map LOCATION MAP

8 Property Demographic Line Data Map Radius 3 Mile 5 Mile 10 Mile Population: 2015 Projection 45, , , Estimate 45, , , Census 45, , ,886 Growth % -1.60% -0.80% Growth % 2.00% 4.60% 2010 Population By Hispanic Origin: 7,458 19,302 74, Population by Race: White 37, , ,270 Black or African American 3,497 15,255 68,077 American Indian and Alaska Native ,399 Asian 1,399 3,442 11,966 Native Hawaiian and Pacific Islanders Other Race 1,393 3,305 15,344 Two or More Races 1,596 4,592 17, Households: 2015 Projection 20,695 61, , Estimate 21,017 63, , Census 20,768 62, ,863 Growth % -1.70% -1.10% Growth % 1.10% 3.00% Owner Occupied 14,770 43, ,106 Renter Occupied 6,247 19,556 58, Avg Household Income $94,301 $98,209 $81, Med Household Income $61,074 $65,049 $58, Per Capita Income $43,586 $44,811 $36, Households by Household Inc: Income Less than $15,000 1,938 5,603 23,605 Income $15,000 - $24,999 1,746 4,873 21,914 Income $25,000 - $34,999 2,082 5,718 24,032 Income $35,000 - $49,999 3,123 7,973 32,031 Income $50,000 - $74,999 3,788 11,768 47,270 Income $75,000 - $99,999 2,888 9,099 36,306 Income $100,000 - $149,999 2,456 8,296 26,565 Income $150,000 - $249,999 1,743 5,866 15,320 Income $250,000 - $499, ,700 6,199 Income $500,000 or more 368 1,109 2,427 Contact Us EXP Realty Advisors 118 East 28 th Street Suite #808 New York, NY Phone: (212) Fax: (212) Our Team Robert P. James President Phone: (212) rob@exp1031.com Daniel de Sa Director of Sales Phone: (212) dan@exp1031.com DEMOGRAPHIC DATA