NNN Pro Group is pleased to present the exclusive listing for a Walgreens located at 295 Academy Avenue, Providence, Rhode Island. The site consists of roughly 13,480 rentable square feet of building space on estimated 3.22-acre parcel of land. This Walgreens is subject to a 15-year absolute triple-net (NNN) lease, which commenced February 23rd, 2023. The current annual rent is $270,000 and is scheduled to increase by 5% every 5 years throughout the base term and in each of the 12, 5-year renewal options.
✓ Long-Term, 15-Year Absolute Triple Net (NNN) Lease
✓ Approximately 14.9 Years Remaining
✓ Five (5%) Rental Increases Occurring Every Five (5) Years
✓ Twelve (12), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 75 Years
