Marcus & Millichap is pleased to present the exclusive listing for a Walgreens located at 205 West Madison Street in Starke, Florida. The site constructed in 2007, consists of roughly 14,259 rentable square feet of building space and sits on an approximately 1.60-acre parcel of land.
Walgreens is subject to a 25-year triple-net (NNN) lease, which commenced on March 1st, 2007. The current annual rent is $350,000.
About the Investment:
✓ Long-Term, 75-Year Absolute Triple Net (NNN) Lease With 11 Years Remaining of Base Term | Termination Options Begin Year 26
✓ Corporate Location, Corporate Guarantee | Built in 2007
✓ Florida – Tax Free State
About the Location:
✓ Dense Retail Corridor| Winn-Dixie, AutoZone, Taco Bell, Ace Hardware, CVS Pharmacy, Anytime Fitness, Tractor Supply, TD Bank, Dollar General, and Many More
✓ Strong Academic Presence | Bradford High School: 900 Students | Santa Fe College’s Andrew Center: 450 Students
✓ Strong Traffic Counts | S. Temple Ave: 33,500 Vehicles | W. Madison Street: 11,750 Vehicles | W. Call Street: 3,250 Vehicles
✓ Military Presence | Camp Blanding Eight-Miles Away | 73,000 Acre Base | 3,00 Military Members
About the Tenant/Brand:
✓ BBB Credit Guaranty
✓ Walgreens is One of the Nation’s Largest Leading Drugstore Chains
✓ Walgreens Operates 9,000+ Drugstores with a Presence in all 50 States, the District of Columbia, Puerto Rico and the U.S. Virgin Islands.
✓ Walgreens Also Manages More Than 400 Healthcare Clinics and Provider Practice Locations Around the Country.
✓ Publicly Traded on the NYSE Under the Ticker Symbol ‘WBA’