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Walgreens 218 E Main St

13,650 SF Retail Building Clinton, CT 06413 £3,629,400 (£266/SF) 7.50% Net Initial Yield

Investment Highlights

  • Walgreens Co. – S&P: BBB Investment Grade Credit – Absolute Triple-Net (NNN) Lease – Zero Landlord Responsibilities
  • 2 Miles from Clinton Commons Premium Outlets – 2.8 Million Visitors Per Year (Source: Placer.ai)
  • Nearly 20 Year Successful Operating History at this Location
  • Rent Increases in the Option Periods
  • Shadow Anchored by Clinton Plaza (100,360 SF) – Grocery Anchored Shopping Center

Executive Summary

Built in 2004, the Property consists of a 13,650-square-foot retail building with a drive-thru lane that sits on an approximately 2.14-acre parcel. This Walgreens has an Absolute-NNN Lease in place, leaving zero landlord responsibilities. It is situated between two grocery anchored Stop & Shop and ShopRite centers. The building is leased to Walgreens Co. on a corporate lease, providing the security of an investment grade credit rating of “BBB” from Standard of Poor’s. Parent company Walgreens Boots Alliance (NASDAQ: WBA), is publicly traded with an impressive $50B market CAP. WBA is also the largest retail pharmacy operator in the US and Europe, with over 13,000 stores in over 9 countries.

Attachments

OM_Walgreens-ClintonCT.pdf

Property Facts

Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Drug Store
Building Size
13,650 SF
Building Class
B
Year Built
2004
Price
£3,629,400
Price Per SF
£266
Net Initial Yield
7.50%
NOI
£272,205
Tenancy
Single
Number of Floors
1
Building FAR
0.15
Land Acres
2.14 AC
Zoning
B-4

Amenities

  • Monument Signage

MAJOR TENANTS

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease Type
  • Lease End
  • Retailer
  • -
  • £19.96
  • Triple Net
  • Jul 2029

Walgreens is a trusted and convenient local health destination that millions of Americans rely on every day. Their founder, Charles R. Walgreen Sr., was known for finding new ways to connect with customers on a personal level and treating each person like a guest in his own home. For over a century, they have expanded that personal connection through their network of neighborhood pharmacies and their innovative health services and products. The foundation for all of this is their trusted pharmacy expertise, and their team members who provide essential care that helps people achieve better health outcomes at an affordable cost.

Tenant Industry SF OCCUPIED RENT/SF Lease Type Lease End
Retailer - £19.96 Triple Net Jul 2029
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PROPERTY TAXES

Parcel Number CLIN-000078-000070-000159 Improvements Assessment £2,185,767
Land Assessment £465,273 Total Assessment £2,651,040

PROPERTY TAXES

Parcel Number
CLIN-000078-000070-000159
Land Assessment
£465,273
Improvements Assessment
£2,185,767
Total Assessment
£2,651,040
(760) 448-2449

  • Listing ID: 29490365

  • Date on Market: 11/09/2023

  • Last Updated:

  • Address: 218 E Main St, Clinton, CT 06413

The Retail Property at 218 E Main St, Clinton, CT 06413 is currently available For Sale. Contact Lee & Associates for more information.

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Walgreens | 218 E Main St
(760) 448-2449 x

Walgreens | 218 E Main St

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Ryan Bennett

(760) 448-2449

(760) 448-2449

Drew Olson

(760) 448-1372

(760) 448-1372

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