Walgreens Investment Opportunity in Pittsburg, Kansas 66762

 
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Andrew D. Ragsdale

Stan Johnson Company

Office Phone: 918-494-2690

 

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Published on: Wednesday, March 11, 2015 3:40:51 AM
Updated on: Thursday, March 12, 2015 10:09:07 AM
Purchase with B2B
Purchase with B2B
 Purchase with Business to Business
Quick Glance

Listing ID: CL-Kansas-41009

Status: Accepting Offers

Financing: No Financing Available

Occupancy: 100%

Year Build: 2004

 

Building Size: 14,726 SqFt

Lot Size: 3 Acre

No of Stories: 1

No of Parking: 0

Business Available for Sale: No

Is Net Lease Investment: No

Property On Ground Lease: No

Building Status: Existing

 Details

Offer to Millionaire Club: No

Listing Summary: Stan Johnson Company is pleased to exclusively offer for sale to qualified investors, the opportunity to purchase a 100% fee-simple interest in the Walgreens property located at 1911 North Broadway Street in Pittsburg, Kansas (the “Property”). The Property was constructed in 2004 as a built-to-suit Walgreens.

Acquisition Option Selected: Traditional Purchase

Cap Rate (%): 5.85

Commission Split (%): 0

Complete Details


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

Additional Properties


Features
  • 14 Years Remaining of Base Lease Term
  • Absolute NNN Lease with No Landlord Responsibility
  • Best-in-Class Pharmaceutical Operator
  • Hard Corner Location
  • Proven Location
  • Strong Retail Location

Attached Documents


 Download | WallGreens_Doc.LoudLister ( 3,219.08KB)

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