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Walgreens 11079 S Military Trl 15,724 SF Retail Building Boynton Beach, FL 33436 $3,625,000 ($230.54/SF) 5.88% Cap Rate
Investment Highlights
- Current rent is below the national average for Walgreens
- Located in an affluent community within prestigious Palm Beach County
- Corporate Lease Guaranty
- Strong traffic counts (+58k vehicles per day) at hard corner signalized intersection of Military Trail & Woolbright Rd
Executive Summary
CIRE Partners, in cooperation with Continental Real Estate Group, is pleased to present for sale the single tenant net lease Walgreens in Boynton Beach, Florida. The Tenant has nearly 30 years of operational history at this site and has approximately ±1.5 years remaining on its lease term with eight, 5-year renewal options. The investment offers qualified buyers a well-located asset in a premier Atlantic coast community with a below market rent, oversized lot and upside potential for future redevelopment. This is an ideal opportunity to acquire a NNN investment backed by corporate lease from a nationally recognized drug-store brand.
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Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
15,724 SF
Building Class
C
Year Built
1997
Price
$3,625,000
Price Per SF
$230.54
Cap Rate
5.88%
NOI
$213,080
Tenancy
Single
Building Height
1 Story
Building FAR
0.31
Lot Size
1.17 AC
Zoning
CC
Parking
67 Spaces (4.26 Spaces per 1,000 SF Leased)
Amenities
- Pylon Sign
- Drive Thru
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 00-42-45-35-00-000-1020 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $3,540,839 |
Property Taxes
Parcel Number
00-42-45-35-00-000-1020
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$3,540,839
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Walgreens | 11079 S Military Trl
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