Year Build: 2004
Building Size: 14,726 SqFt.
No of Stories: 1
Total Lot Area: 2.50 Acre
No of Parking: 0
No of Total Units: 1
Property Current Status: Normal Sale
Building Status: Existing
Heating and Cooling: Heating and Cooling
Building Class: Not Specified
Property on Ground Lease?: No
Net Lease Investment?: No
Business Price Included?: No
Roofing: Metal
Occupancy: 100%
Full Description
The Property is fully leased by Walgreen Co., operating under a seventy-five (75) year base lease term with the option to terminate with 12 months’ notice after the 25th year and every five years thereafter. Current
annual rent is $294,348 or $19.86 PSF. Walgreens’ lease is absolute NNN with no landlord responsibilities for maintenance, repair or replacement throughout the term. Following the initial 25 year base term, Walgreens
has ten Effective Option Periods of five years each. The subject property is located at the corner of North Broadway Street and East 20th Street. North
Broadway Street is Pittsburg’s main thoroughfare and surrounding retail tenants include: Sonic, Ace Hardware, Walmart, Wendy’s, Big Lots, Starbucks, Dollar General, The Home Depot, McDonald’s, Aldi,
and more. The property is located approximately 0.6 miles north of the Community Health Center - Southeast and 1.4 miles southwest of the Community Health Center - Main Campus. Walgreen Co. is a Fortune 500 Company, and had FY2014 (ended August 31, 2014) revenue of $76.39
billion and net income of $1.93 billion. As of August 31, 2014, the company had a net worth of $20.45 billion.
Currently, Walgreen Co