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Zero Cash Flow Leasehold
Absolute NNN Leases with Over 21 Years Until Termination Option
Fully Depreciable Basis Due to Leasehold Structure
Significant Cash Flow Potential – Rent Increases to FMV in 2049
Pay Down Re-Advance Feature on Debt
Marcus & Millichap is pleased to exclusively present for sale a Walgreens zero cashflow leasehold portfolio. All locations feature absolute NNN leases with a firm term of 21 years remaining. There are eight locations remaining, all in very diverse markets. The leasehold interests can be purchased as a portfolio, individually, or in smaller pools. There are no rent holidays and the debt is fully self-amortizing. The existing zero cash flow loans must be assumed and include the attractive pay down re-advance feature. The portfolio is priced at 15.5% equity over the debt.
This is a unique opportunity for an investor to acquire competitively priced zero cash flow deals backed by a strong investment grade tenant.