10870 Overseas Hwy - Drug Store FOR SALE


Marathon, FL 33050
$7,670,000 USD
480-221-4221
10870 Overseas Hwy, Marathon, FL for Sale
$7,670,000 USD
Drug Store - FOR SALE
1/9
null | 5.5% Cap Rate

10870 Overseas Hwy
Marathon, FL 33050


HIGHLIGHTS

  • Brand New 15-Year Lease | Scheduled Rental Increases | Established Brand
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Dense Retail Corridor | Strong National/Credit Tenant Presence | Florida Keys Marathon International Airport
  • Signalized, Hard Corner Intersection | Excellent Visibility & Access
  • Strong Demographics in 5-Mile Trade Area | Six-Figure Incomes

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Walgreens investment property located in Marathon, Florida. The tenant, Walgreens, Inc recently signed a brand new 15 year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 5% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. Walgreens operates nearly 9,000 retail locations across the U.S. and Puerto Rico, Walgreens is proud to serve nearly 9 million customers and patients daily.

FOR SALE DETAILS

PRICE

$7,670,000 USD

PRICE/SF

$454 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens | New 15yr Corp Abs NNN w/ Incrs

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1996

SPRINKLERS

-

PARKING SPACES

50

LAND DETAILS

LAND ACRES

1.49 AC

LAND SF

64,904 SF

ZONING

MU

APN/PARCEL ID

00333890-000000

ASK ABOUT THIS PROPERTY

Patrick LutherSRS National Net LeaseMore Info
480-221-4221

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Patrick LutherSRS National Net LeaseMore Info
480-221-4221

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.