140 Capital Cir NW - Drug Store FOR SALE


Tallahassee, FL 32304- Southwest Tallahassee
$5,248,000 USD
786-522-7013
140 Capital Cir NW, Tallahassee, FL for Sale
$5,248,000 USD
Drug Store - FOR SALE
1/13
null | 6.5% Cap Rate

140 Capital Cir NW
Tallahassee, FL 32304
Southwest Tallahassee


HIGHLIGHTS

  • Walgreens Corporate Guarantee (NYSE: WBA)
  • Long Term Absolute NNN Lease | Approximately 10 Years Remaining
  • Recently Executed Lease Demonstrating Strong Site Commitment
  • Rare Rental Increases in Initial Term & Option Periods | 5% Every Five-Years
  • Hard Signalized Corner with Great Visibility | Visible to over 55,500 Vehicles/Day
  • Strategically Located On Hard Signalized Intersection

OVERVIEW

Marcus & Millichap is pleased to present for sale this Absolute Net Leased Walgreens located at 140 Capital Cricle SW in Tallahassee, Florida, just seven miles West of Downtown Tallahassee. The subject property consists of a 14,751 SF free-standing building with a drive-thru and is situated on a large 1.72-acre parcel of land. Strategically located on the hard signalized intersection of Capital Circle and W Tennessee Street, the property benefits from great visibility and high traffic counts, which exceed 55,500 vehicles per day. The property is also conveniently located within the area’s dense retail corridor which is home to Walmart Supercenter, McDonald’s, Ross Dress for Less, KFC, Taco Bell, Tractor Supply Co., Zaxby’s, Sonic, AutoZone, Dunkin, Home Depot, Lowe’s, and numerous other National and Regional Tenants. Tallahassee is the capital city of the state of Florida with an MSA population exceeding 380,000. In addition to the Florida State Capitol, Florida Senate Office Building, Florida Supreme Court, and numerous state departments, Tallahassee is also home to Florida State University, Florida A & M University and Tallahassee Community College with a total student population of more than 70,000. Walgreens recently executed a brand new 13 Year Absolute Net-Lease with increases in both the initial term and option periods. The initial term runs through August 31st, 2035 and has twelve five-year options to extend. Walgreens (NYSE: WBA) is a publicly traded company and one of the largest drugstore chains in the U.S. Walgreens is part of the U.S. Retail Pharmacy and U.S. Healthcare segments of Walgreens Boots Alliance, Inc, an American multinational holding company and integrated healthcare, pharmacy and retail leader. Operating more than 8,700 retail locations across the U.S. and Puerto Rico, Walgreens serves nearly 9 million customers and patients daily. The company’s approximately 26,000 pharmacists are playing a more critical role in healthcare than ever before, providing a wide range of pharmacy and healthcare services, including those that drive equitable access to care for some of the nation’s most underserved populations. Walgreens offers customers and patients a true omnichannel experience, with fully integrated physical and digital platforms designed to deliver high-quality products and healthcare services. Within the U.S. Healthcare segment, Walgreens portfolio also includes businesses in primary care, multi-specialty, post-acute care, urgent care, specialty pharmacy services, population health and provider enablement.

FOR SALE DETAILS

PRICE

$5,248,000 USD

PRICE/SF

$356 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens - Tallahassee, FL

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2007

SPRINKLERS

-

PARKING SPACES

45

LAND DETAILS

LAND ACRES

1.72 AC

LAND SF

74,923 SF

ZONING

CP

APN/PARCEL ID

21-30-20-002-001.0

ASK ABOUT THIS PROPERTY

Ronnie IssenbergMarcus & MillichapMore Info
786-522-7013

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Ronnie IssenbergMarcus & MillichapMore Info
786-522-7013

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