Walgreens Leasehold – Tyler, TX

Tenant

Walgreens

Location

Tyler, TX

Price

$3,886,283

CAP Rate

6.12%

NOI

$237,699

Lease Term

70 Years

Occupancy

100%

Building Size

15,211 SF

Property Type

Single Tenant

Year Built

2009

Lot Size

2.11 Acres

Status

Available

Property Contacts:

Karly Iacono

Associate Director

201-742-6119 | Email

Zero Cash Flow Leasehold

Absolute NNN Leases with Over 21 Years Until Termination Option

Investment-Grade Tenant/Guarantor

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.