1 Pocasset Ave
Providence, RI 02909
Walgreens · Retail Property For Sale

This Walgreens, in the heart of Providence, Rhode Island, has more than 16 years remaining on the initial 25-year term of an absolute triple net (NNN) lease with an additional 50 years worth of options beyond the initial term. The lease carries a corporate guarantee, with zero landlord responsibilities. This particular location is open from 7:00 AM to midnight, 7 days a week. It was built in 2008, and features a drive-thru, more than 50 parking spaces and a loading dock inside its fenced-in, 1.28 acre lot. The property is located at the signalized intersection of Plainfield Street and Pocasset Avenue, in the densely populated Silver Lake neighborhood of Providence, with more than 370,000 residents within a 5-mile radius. A CVS located less than two blocks away is a testament to the strength of the location, which boasts exposure to combined daily traffic counts in excess of 50,000 vehicles. The property sits a block away from the entrance to Route 6, a six-lane highway (58,000+ vehicles per day) that connects to the main interstate highway on the East Coast, I-95 (182,000+ vehicles per day), less than two miles east of the site.