218 E Main St - Drug Store FOR SALE


Clinton, CT 06413
$4,600,000 USD
760-448-2449
218 E Main St, Clinton, CT for Sale
$4,600,000 USD
Drug Store - FOR SALE
1/5
null | 7.5% Cap Rate

218 E Main St
Clinton, CT 06413


HIGHLIGHTS

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

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$4,600,000 USD

PRICE/SF

$337 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2004

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.14 AC

LAND SF

93,218 SF

ZONING

B-4

APN/PARCEL ID

CLIN-000078-000070-000159

ASK ABOUT THIS PROPERTY

Ryan BennettLee & AssociatesMore Info
760-448-2449

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Ryan BennettLee & AssociatesMore Info
760-448-2449

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