227 S Main St
Manchester, NH 03102
Walgreens · Retail Property For Sale

Marcus & Millichap is pleased to present for sale the Walgreens at 227 South Main Street in Manchester, New Hampshire. The property is located at the signalized intersection of Varney Street and South Main Street in a high traffic, thickly settled area on the west side of the Merrimack River. There are over nine years remaining in the triple net lease providing an investor with the opportunity to get into a strong corporately guaranteed single tenant net-leased investment with minimal responsibility. The property is leased to Walgreens with a parent corporation guaranty from Walgreens Corp. The lease is triple net with the tenant responsible for taxes, insurance and maintenance and the landlord responsible for repairing and/or replacing structural portions of the roof and structure. The base term of the lease was 20 years and the tenant extended an additional 10 years bringing the current term out to 2027 and providing an investor with over nine years of term before the option periods begin. Manchester, the most populous city in the State of New Hampshire, is strategically located approximately 18 miles south of the state's capital, Concord, and 18 miles north of the second largest city in the state, Nashua. It is split east and west by the Merrimack River and conveniently accessed by two North-South interstate highways 293 and 93. The subject is located on the west side of the city and services the community on that side of the river including dense residential communities, multiple large multi-family apartment complexes, the West High School and Saint Anselm's College. The subject is surrounded by national, regional and local retailers and businesses including TD Bank, Applebees, Burger King, McDonalds and in addition there are approximately 19,000 cars per day on the road and population just shy of 100,000 in the three mile radius of the property.