Walgreens

5564 Broadway, Bronx, NY
Deal Type:
Net Lease
Price:
$9,530,240
Cap Rate:
5.00%
Current Rent:
$476,512
Lease Type:
Triple Net
Landlord Responsibilities:
None
Lease Expiration Date:
Approx. 15 years
Renewal Options:
12, 5-year options
Building Sq. Ft.:
14,482 SF
Rent Increases:
5% every 5-years, including options
Site Size:
0.47 Acres
  • walgreens stream capital partners
  • walgreens stream capital partners
  • walgreens stream capital partners
  • walgreens stream capital partners

Investment Highlights

  • Long term absolute NNN lease guaranteed by Walgreens, with scheduled rental escalations in the base term. Top performer for Walgreens nationally, very low rent to sales ratio
  • Irreplaceable real estate on route 9 (Broadway), with easy access to bus, rail, subway and the Major Deegan Expressway (I87) with traffic counts of 189,000 VPD
  • Located beneath the 1 subway platform, which has a 1.1 million weekday ridership and next to MTA bus station on Broadway that has a 1.8 million weekday ridership
  • Situated in the Bronx, NY, a very densely populated borough home to $1.5 million people, which is 20% of New York City’s total population and has been the fastest growing county in all of NY State in the past 10 years at 26%
  • Adjacent to Broadway Plaza, a 114,000 sq. ft. shopping mall, with gated parking and a very replaceable rent ($32 psf)
  • This location grosses $9.0 Million in revenue

Listing Agents

phil digennaro stream capital partners

Phil DiGennaro

Managing Director
203 610 1541
[email protected]

Taylor Trepinski

Vice President
786 684 1975
[email protected]

Jordan Shtulman

Managing Principal
847 226 4133
[email protected]

Broker of Record: Mike Antonoplos, NY Lic. #34AN1074933

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