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Walgreens

2237 West 9 Mile Road, Pensacola, FL, USA
$7,800,000 4.75% Cap 14,820 sq ft Built 2006 Actual Site Photo Print This Page

Location

2237 West 9 Mile Road, Pensacola, FL, USA

Price: $7,800,000
Cap Rate: 4.75%
Net Operating Income: $370,500
Square Footage: 14,820
Lot Size: 2.19 AC
Year Built: 2006

100% Fee Simple InterestCorporate GuaranteeExcellent Investment OpportunityIncome Tax Free StateLong Term NNN LeaseRated CreditS&P Rated BBBScheduled IncreasesZero Landlord Obligations

The subject property is a net leased Walgreens in Pensacola, Florida. The new 15 year absolute NNN lease calls for zero landlord obligations. The tenant has twelve, 5 year options to renew with rare 5% increases every 5 years and at each option period. The property is well-situated on a major retail corridor surrounded by national retailers including Walmart Neighborhood Market, Publix, Starbucks, Wendy’s, Jersey Mike’s, and many others. This location is heavily trafficked and there are 20,667 VPD along West Nine Mile Road.

Pensacola is the westernmost city in the Florida Panhandle, and the county seat of Escambia County, Florida. As of 2019, the population was estimated to be 52,975. Pensacola is the principal city of the Pensacola Metropolitan Area, which had an estimated 494,883 residents as of 2018. Pensacola is one of the largest metropolitan areas in the Gulf Coast region, the largest between New Orleans and Tampa.

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Kase Abusharkh Founding Principal View profile
Jacob Abusharkh Managing Principal View profile

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