Walgreens 1402 Ohio Ave

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Walgreens property located in Lynn Haven, Florida. Walgreens has a long operating history at this location since 1999. Walgreens recently signed a new 15-year lease through September 2038 which demonstrates immense commitment. The lease features rental escalations every five years throughout the term of the lease. It also contains twelve 5-year renewal options and is triple net with no landlord responsibilities. Walgreens is the second largest pharmacy store chain in the United States with a Fortune 500 ranking of 27 for total revenue. Reported sales are superior and well over the average sales for a typical Walgreens.
The 13,761-square-foot building is strategically located at the signalized intersection of State Highway 77 and West 14th Street, where traffic flows exceed 52,500 vehicles daily. This prime position places the property near several major retailers, including Walmart, Publix, ALDI, Winn-Dixie, AutoZone, McDonald’s, Zaxby’s, and many others. There are over 62,000 people living within a five-mile radius. The population within the same radius is projected to grow by more than 7% over the next five years according to CoStar. The population within a three-mile radius earns a six-figure average household income of $111,393.
Walgreens is included in the Retail Pharmacy USA Division of Walgreens Boots Alliance, Inc., a global leader in retail pharmacy. As America’s most loved pharmacy, health and beauty company, Walgreens purpose is to champion the health and wellbeing of every community in America. Operating more than 8,600 retail locations across America, Puerto Rico and the U.S. Virgin Islands, Walgreens is proud to be a neighborhood health destination serving approximately 8 million customers each day. Walgreens pharmacists play a critical role in the U.S. healthcare system by providing a wide range of pharmacy and healthcare services.