Address: 5525 West 12th Street-5917 West Baseline Road, Little Rock, Arkansas, United States
Type: Drug Store
Cap Rate: 8.25%
Lease Type: Double-Net (NN)
Annual Rent: $375,855
Net Operating Income: $375,855
Marcus & Millichap is pleased to present the exclusive listing for a 2 property Walgreens portfolio located in Little Rock, Arkansas. The properties consist of 27,000 square feet of building space and sit on 2.65 acres of land. Both of the buildings were built in 1995. The two sites must be sold as a portfolio.
This Walgreens properties have approximately 6 years remaining on original 20-year double (NN) leases. The leases expire in 2025. The current combined annual net operating income is $375,855. Walgreens extended the leases for a firm 10 years in 2015, for a ten percent rent reduction. Walgreens has eight, five-year tenant renewal options. Additionally, the Baseline Road property has additional easement income from a neighboring Rally’s property.
Walgreens Boots Alliance is the largest retail pharmacy, health and daily living destination across the USA and Europe. Walgreens Boots Alliance and the companies in which it has equity method investments together have a presence in more than 25 countries and employ more than 400,000 people. The company is a global leader in pharmacy-led, health and wellbeing retail and, together with the companies in which it has equity method investments, has over 13,200 stores in 11 countries as well as one of the largest global pharmaceutical wholesale and distribution networks, with over 390 distribution centers delivering to more than 230,000 pharmacies, doctors, health centers and hospitals each year in more than 20 countries.
Broker of Record: Anne Williams License #PB00066390