Walgreens Zero Cashflow

Tenant

Walgreens

Location

Coatesville , Pennsylvania

Price

$3,827,607

CAP Rate

Unstated

NOI

$248,454

Lease Term

20.3 Years Remaining

Occupancy

100%

Building Size

14,636 SF

Property Type

Single Tenant

Year Built

2011

Lot Size

1.30 Acres

Status

Available

Property Contacts:

Karly Iacono

Vice President

(201) 742-6119 | Email

  • Zero Cashflow Structure with Assumable Self Amortizing Debt
  • Absolute NNN Corporately Guaranteed Lease
  • Investment Grade Tenant | BBB (S&P)
  • Located on a Hard Signalized Intersection
  • Great Demographics | Over 71k People in 5 Miles
  • Affluent Area | Average Household Income Exceeds $101k
  • Fully Depreciable Basis due to Leasehold Structure
  • Pay Down Re-Advance Feature on Debt

Marcus and Millichap is pleased to exclusively present a Walgreens leasehold interest in Coatesville, PA. The property is subject to an Absolute NNN lease with a firm term of 20.3 years remaining. There are no rent holidays and the debt is fully self-amortizing. The existing zero cashflow loan must be assumed and includes the attractive pay down re-advance feature. It is priced at 16.50% equity over the debt balance.

Walgreens is the second largest pharmacy chain in the US. It specializes in filling prescriptions, health and wellness products, health information, and photo services. The company operates more than 9,450 locations across all 50 states and US territories. Walgreens was founded in Chicago, IL in 1901 and went public in 1927. It is headquartered in the Chicago suburb of Deerfield, IL.

The subject property is located in the Philadelphia MSA, only 40 miles from Philadelphia. There are many national retailers in the area such as Aaron’s, McDonald’s, Dairy Queen, Popeyes and more. There are numerous churches near by. In addition, there are five schools (elementary to high school) with over 3,900 students within 5-miles.