5896 Cortez Rd W - Drug Store FOR SALE


Bradenton, FL 34210
$4,830,000 USD
847-562-8500
5896 Cortez Rd W, Bradenton, FL for Sale
$4,830,000 USD
Drug Store - FOR SALE
1/4
null | 6% Cap Rate

5896 Cortez Rd W
Bradenton, FL 34210


HIGHLIGHTS

  • 17%+ population growth expected over the next ?ve years (3-mile radius)
  • New 15-Year lease extension with a significant operating history since 2003
  • 5% rental escalations every five years
  • Florida is an income tax free state
  • Located at a signalized intersection – Combined traffic count of 68,000 vehicles per day
  • Over 159,000 people live within a five-mile radius

OVERVIEW

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Walgreens property positioned within the Tampa MSA in Bradenton, Florida. Walgreens has successfully operated at this location since 2003 and recently signed a new 15-year lease through February 2039 demonstrating immense commitment. The lease features 5% rental escalations every five years throughout the term of the lease. It also contains twelve 5-year renewal options and is triple net with no landlord responsibilities. Walgreens is the second largest pharmacy store chain in the United States with a Fortune 500 ranking of 27 for total revenue. As an added benefit to potential buyers, Florida is an income tax free state. The 14,388-square-foot building is strategically located at the signalized intersection of Cortez Road and 59th Street, where traffic flows exceed 68,000 vehicles daily. This prime signalized intersection places the property near several major retailers, including Walmart Supercenter, ALDI, Publix, Hobby Lobby, Regal, Bealls, Chase Bank, Chipotle, and many others. There are over 159,000 people living within a five-mile radius. Additionally, the population, within a 3-mile radius, is projected to grow by more than 17% over the next five years according to CoStar. The average household income within five miles is $84,438. Walgreens is included in the Retail Pharmacy USA Division of Walgreens Boots Alliance, Inc., a global leader in retail pharmacy. As America’s most loved pharmacy, health and beauty company, Walgreens purpose is to champion the health and wellbeing of every community in America. Operating more than 8,600 retail locations across America, Puerto Rico and the U.S. Virgin Islands, Walgreens is proud to be a neighborhood health destination serving approximately 8 million customers each day. Walgreens pharmacists play a critical role in the U.S. healthcare system by providing a wide range of pharmacy and healthcare services.

FOR SALE DETAILS

PRICE

$4,830,000 USD

PRICE/SF

$394 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2003

SPRINKLERS

-

PARKING SPACES

23

LAND DETAILS

LAND ACRES

1.41 AC

LAND SF

61,594 SF

ZONING

BR_SCC

APN/PARCEL ID

51111-2005-0

ASK ABOUT THIS PROPERTY

Jimmy GoodmanThe Boulder GroupMore Info
847-562-8500

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Jimmy GoodmanThe Boulder GroupMore Info
847-562-8500

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