STREAM Capital Partners > Properties > All Properties > Walgreens

Walgreens

Net Lease

2094 West US Highway 90 , Lake City, Florida
Ownership Type:
Fee Simple
Price:
$4,752,000
Cap Rate:
7.00%
Current Rent:
$332,640
Tenancy:
Single Tenant
Lease Type:
Triple Net
Landlord Responsibilities:
None
Lease Expiration Date:
Approx. 9.5 years
Renewal Options:
12, 5 Year Options
Building Sq. Ft.:
15,120 SF
Rent Increases:
5% Every 5 Years
Site Size:
2.04 Acres

Investment Highlights

  • Long Term Commitment: Absolute NNN lease structure with 9+ years remaining and 12, 5 year options to extend
  • Zero Landlord Responsibilities: Tenant operates under an absolute NNN lease structure, ensuring true passive ownership for investors. All expenses—including taxes, insurance, maintenance, and repairs—are fully covered by the tenant, providing stable income throughout the lease term.
  • Strong Corporate Guarantor: Guaranteed by Walgreens, a leading national pharmacy retailer with over 8,500 locations, providing investors with a reliable and stable corporate-backed lease.
  • Well Situated: Strategically positioned along West US Highway 90, a primary east–west commercial corridor in Lake City, the property benefits from strong visibility and direct access, with exposure to 42,000+ vehicles per day and convenient connectivity to I-75—supporting consistent customer traffic and long-term tenant demand.
  • Strong Surrounding Retail: Strategically positioned as an outparcel in the center of a robust trade area anchored by Home Depot, Aldi, and Dollar Tree, with additional nearby retailers including Publix, Dick’s Sporting Goods, Hobby Lobby, Ashley HomeStore, PetSmart, Advance Auto Parts, and Lake City Mall—driving consistent traffic, visibility, and tenant demand.
Ownership Type:
Fee Simple
Price:
$4,752,000
Cap Rate:
7.00%
Current Rent:
$332,640
Lease Type:
Triple Net
Landlord Responsibilities:
None
Lease Expiration Date:
Approx. 9.5 years
Renewal Options:
12, 5 Year Options
Building Sq. Ft.:
15,120 SF
Rent Increases:
5% Every 5 Years
Site Size:
2.04 Acres

Listing Agents

Jordan Koeppel

Senior Vice President
561 789 5504[email protected]

Taylor Trepinski

Vice President
516 212 7007[email protected]

Broker of Record:
Sasha Dominguez, BK3339010

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