| Price Range: |
$4,000,000 – $7,500,000, determined by annual net rent |
| Equity Required: |
At least 20–25 % of appraised value |
| Lease Term: |
25 years with ten (10) five year options
20 years with eight (8) five year options
(prior 2001 stores) |
| Building Size: |
13,905 – 15,100 sq. ft., determined by actual site layout, city codes, and Walgreens prototype selection |
| Land Size: |
50,000 – 90,000 sq. ft. |
| Amenities: |
Most have drive–through windows with 24 hour access per city codes |
| Locations: |
Typically with both “high–growth” and established suburban areas.
Walgreens chooses the sites based on population, density, traffic volume, prime intersection and established retail corridors – thus assuring good residual value of real estate.
Call for particular sites. |
| Expenses: |
Walgreens is self insured and pays all expenses and taxes directly.
NN Lease only: Landlord responsible for exterior, structural and roof maintenance which is guaranteed by the manufacturer for 10–15 years. Walgreens will repair, resurface, restripe and clean the parking lot. |
| CAP Rate: |
6.0 – 7.5 % |
| Financing: |
Numerous national insurance companies are providing self–amortizing debt financing due to the tenants credit and “underlying” real estate. Other financing terms also available. |
