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Trophy Walgreens with 14-Years & 5% Bumps

1211 Boston Post Rd, Westbrook, CT 06498, USA
$8,694,400

Price:
$8,694,400
Cap Rate
5.25 %
NOI
$ 456,456
Lot Area
14,820 sqft
Occupancy
100 %
Class
A
Year Built
2007
Price Per SF
586$
Zoning
C
Tenancy
Single
LEAD LISTING AGENT
Jesse Limon

Jesse Limon

ASSOCIATE


License No. NY 10401271892, IN RB14048415

Broker of Record

J.D. Parker License: CT REB0752012

PROPERTY CONTENT

Marcus & Millichap, on behalf of Ownership as its exclusive advisor, is pleased to offer for sale the 100% fee simple interest in the single-tenant Walgreens retail property located at 1211 Boston Post Road, Westbrook, Connecticut 06498 (the “Property”). Build-to-suit for Walgreens in 2007, the Property comprises a +/- 14,820 SF building on an active +/- 1.57-acre parcel, that is strategically positioned along Boston Post Road/Route 1 with nearly 12,000 vehicles per day.

Subject located in Westbrook, CT is situated only blocks from the Shore Line East Commuter Rail Service Station, only 50 miles from the State Capitol, Hartford, 75 miles from Providence, RI, 100 miles from NYC, and 120 miles from Boston, MA . The Property benefits from its location, smack dab in the center of Westbrook, an area with above average household income of over $113,000 within 5 miles of the subject and about 12,000 households in the same area.

Walgreens Boots Alliance is an investment grade tenant, rated “B1” by Creditntell.com, and traded on the NASDAQ under the ticker “WBA”. Walgreens is the first global pharmacy-led, health and wellbeing enterprise of it’s kind. The Company’s heritage of trusted health care services through community pharmacy care and pharmaceutical wholesaling dates back more than 100 years. It is the largest retail pharmacy chain in the U.S. and one of the world’s largest purchasers of prescription drugs, along with numerous health, beauty, and wellbeing products. Nearly 8 million customers interact with Walgreens in stores and online each day.


PROPERTY HIGHLIGHTS


1211 Boston Post Rd, Westbrook, CT 06498, USA

LEAD LISTING AGENT
Jesse Limon

Jesse Limon

ASSOCIATE


License No. NY 10401271892, IN RB14048415