Walgreens

2550 East 88th Avenue, Anchorage, AK
Deal Type:
Net Lease
Price:
$9,600,000
Cap Rate:
6.50%
Current Rent:
$625,000
Lease Type:
Triple Net
Landlord Responsibilities:
None
Lease Expiration Date:
Approx. 10.35 years
Renewal Options:
11 x 5 Year
Building Sq. Ft.:
14,590 SF
Site Size:
1.80 Acres
  • walgreens stream capital partners
  • walgreens stream capital partners
  • walgreens stream capital partners
  • walgreens stream capital partners
  • walgreens stream capital partners

Investment Highlights

  • Commitment: Long term, absolute NNN lease with over 10 years remaining on the term
  • ZERO Landlord Responsibilities: Allows for a true, passive investment with no management required
  • Signalized Corner Location: Located at the intersection of 88th Avenue and Lake Otis Parkway, with traffic counts in excess of 27,600 vehicles per day
  • Limited Area Competition: Walgreens has gained market share in Anchorage, AK, as it benefits from higher store presence with 7 stores compared to its main competitor which has only two stores
  • Dense Area Population: There are over 166,000 people within a 5-mile radius of the property
  • Affluent Demographics: Average household incomes of $126,000+ within a 3-mile radius
  • Credit: Opportunity to acquire an investment grade (S&P:BBB) asset guaranteed by Walgreens Boots Alliance Inc (NASDAQ: WBA)

Listing Agents

John Woodcock Stream Capital Partners

John Woodcock

Vice President
503 853 6108
[email protected]

Dorothy Lee

Vice President
626 236 3823
[email protected]

Brian Brockman, Alaska License #164417

Bang Realty-Pacific Inc | Brokerage License #164416121
40 W 4th Ave Suite 104 Anchorage, AK 99501

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