Walgreens New 15 Year Absolute NNN Lease | 3809 E Belknap St
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Walgreens New 15 Year Absolute NNN Lease 3809 E Belknap St
13,823 SF 100% Leased Retail Building Fort Worth, TX 76111 £3,296,697 (£238/SF) 6% Net Initial Yield
Investment Highlights
- New 15 Year Absolute NNN Lease with Rental Increases Every 5 Years
- Corporate Guarantee - NASDAQ:WBA
- Income Tax Free State
- Zero Landlord Obligations
- S&P Rated BBB Investment Grade Credit
- Hard Corner Location with Exposure to 31,000+ VPD
Executive Summary
The subject property is a 13,823 square foot building, leased to Walgreens
(WBA) on an absolute NNN lease. The tenant has a newly extended 15 year
lease term starting June 2023. The lease comes with twelve, 5 year option
periods with 5% increases every 5 years. The site benefits from traffic counts
in excess of 31,000 vpd on a hard corner with excellent ingress and egress
points. The asset is located on a major commercial thoroughfare with
neighboring tenants that include Domino's Pizza, Sammies Bar-B-Q, El
Rancho Supermercado and a Walmart Shadowed Supercenter down the road
(WBA) on an absolute NNN lease. The tenant has a newly extended 15 year
lease term starting June 2023. The lease comes with twelve, 5 year option
periods with 5% increases every 5 years. The site benefits from traffic counts
in excess of 31,000 vpd on a hard corner with excellent ingress and egress
points. The asset is located on a major commercial thoroughfare with
neighboring tenants that include Domino's Pizza, Sammies Bar-B-Q, El
Rancho Supermercado and a Walmart Shadowed Supercenter down the road
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
13,823 SF
Building Class
B
Year Built
1997
Price
£3,296,697
Price Per SF
£238
Net Initial Yield
6%
NOI
£197,802
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.21
Land Acres
1.52 AC
Zoning
R, Fort Worth
Parking
48 Spaces (3.47 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Dedicated Turn Lane
- Pylon Sign
- Signalised Intersection
Walk Score ®
Very Walkable (84)
PROPERTY TAXES
| Parcel Number | 07038437 | Improvements Assessment | £981,790 |
| Land Assessment | £523,571 | Total Assessment | £1,505,361 |
PROPERTY TAXES
Parcel Number
07038437
Land Assessment
£523,571
Improvements Assessment
£981,790
Total Assessment
£1,505,361
-
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The Kase Group
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Walgreens New 15 Year Absolute NNN Lease | 3809 E Belknap St
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