2349 N Monroe St
Tallahassee, FL 32303
Walgreens | FL | $4.47M | Above Avg Sales · Retail Property For Sale

Pharma Property Group has been retained as exclusive agent and is pleased to offer investors the opportunity to acquire a Walgreens in Tallahassee, Florida. Walgreens extended the lease in April 24, 2014 by 10 years showing commitment to this location. There are eight years of guaranteed income before the eight (5 year) options begin on May 31st of 2025. Roof was replaced in 2009 with a 15 year transferable warranty. Property to be delivered free and clear of debt. The subject property has a history of strong sales benefiting from extended hours (7 AM - Midnight), a drive-thru pharmacy open until 11 PM and sales of beer and wine. There are only three other competing national pharmacies in a three mile radius. This drive-thru pharmacy is adjacent to the 747,000 square foot Tallahassee Regional Mall with national anchors and many retail tenants at the signalized north east corner of Monroe Street and John Knox Road with traffic counts exceeding 61,000 vehicles per day (44,000 VPD Monroe & 17,000 VPD John Knox). The subject property is two miles from Florida State Capital employing 23,000 administrative workers, two miles from Florida State University with approximately 41,000 students enrolled, 12,500 staff and faculty, and four miles from Florida A & M University with approximately 10,000 students enrolled. Listed in association with Stephen Nostrand One Commercial, LLC Broker of Record FL DRE Lic. CQ1049770