Skip to Content

Walgreens

Starke, Florida

Map View

Street View

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’

Key Details

Price:
$5,384,615
Cap Rate:
6.50%
Annual Rent:
$350,000
Address:
205 West Madison Street, Starke, Florida 32091
Property Type:
Net Leased Drug Store
Lease Type:
Absolute Triple-Net (NNN)

Original Lease Term:
25 Years
Lease Commencement:
3/01/2007
Lease Expiration:
3/29/2032
Lease Term Remaining:
11 Years
Lot Size:
+/- 1.60 Acres
Building Size:
14,259 SF
Year Built:
2007
Tenant:
Walgreens

Broker of record

Ryan Nee

License: BK3154667


Similar Properties

Miller's Ale House

745 Chastain Road NW, Starke, Florida, 30144

Mavis Discount Tire

3877 Centerville Rosebud Rd, Starke, Florida, 30039

Bob Evans

3151 Phoenix Center Drive, Starke, Florida, 63090

Sagemont Upper School

2585 Glades Circle, Starke, Florida, 33327