Cap Rate: 5.30%
Net Operating Income: $627,464
The subject offering is a fee simple interest in an absolute NNN leased Walgreens. The property is located in the coastal town of Hatillo and is part of the San Juan MSA. The long term lease calls for zero landlord obligations. Walgreens has fifty, one year options to renew.
Hatillo is a town and municipality located in Puerto Rico’s north coast, bordered by the Atlantic Ocean to the north, Lares and Utuado to the south, Camuy to the west, and Arecibo to the east. According to the 2000 US Census Hatillo is spread over nine barrios and Hatillo Pueblo (the downtown area and the administrative center of the city). It is part of the San Juan-Caguas-Guaynabo Metropolitan Statistical Area.