Walgreens 218 E Main St 13,650 SF Retail Building Clinton, CT 06413 $6,363,226 CAD ($466.17 CAD/SF) 7.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Walgreens Co. – S&P: BBB Investment Grade Credit – Absolute Triple-Net (NNN) Lease – Zero Landlord Responsibilities
- 2 Miles from Clinton Commons Premium Outlets – 2.8 Million Visitors Per Year (Source: Placer.ai)
- Nearly 20 Year Successful Operating History at this Location
- Rent Increases in the Option Periods
- Shadow Anchored by Clinton Plaza (100,360 SF) – Grocery Anchored Shopping Center
EXECUTIVE SUMMARY
Built in 2004, the Property consists of a 13,650-square-foot retail building with a drive-thru lane that sits on an approximately 2.14-acre parcel. This Walgreens has an Absolute-NNN Lease in place, leaving zero landlord responsibilities. It is situated between two grocery anchored Stop & Shop and ShopRite centers. The building is leased to Walgreens Co. on a corporate lease, providing the security of an investment grade credit rating of “BBB” from Standard of Poor’s. Parent company Walgreens Boots Alliance (NASDAQ: WBA), is publicly traded with an impressive $50B market CAP. WBA is also the largest retail pharmacy operator in the US and Europe, with over 13,000 stores in over 9 countries.
PROPERTY FACTS
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
13,650 SF
Building Class
B
Year Built
2004
Price
$6,363,226 CAD
Price Per SF
$466.17 CAD
Cap Rate
7.50%
NOI
$477,242 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.15
Lot Size
2.14 AC
Zoning
B-4
AMENITIES
- Signalized Intersection
- Drive Thru
- Monument Signage
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Retailer
- -
- $34.98 CAD
- Net
- Jul 2029
Walgreens is a trusted and convenient local health destination that millions of Americans rely on every day. Their founder, Charles R. Walgreen Sr., was known for finding new ways to connect with customers on a personal level and treating each person like a guest in his own home. For over a century, they have expanded that personal connection through their network of neighborhood pharmacies and their innovative health services and products. The foundation for all of this is their trusted pharmacy expertise, and their team members who provide essential care that helps people achieve better health outcomes at an affordable cost.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Retailer | - | $34.98 CAD | Net | Jul 2029 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | CLIN-000078-000070-000159 | Improvements Assessment | $3,834,455 CAD |
| Land Assessment | $816,221 CAD | Total Assessment | $4,650,677 CAD |
