24170 US Highway 27
Lake Wales, FL 33859
Walgreen's · Retail Property For Sale

Marcus and Millichap is pleased to exclusively present a Walgreens leasehold interest in Lake Wales, FL. The property is subject to a NNN lease with over 20 years remaining until the first termination option. There are no rent holidays and the debt is fully self-amortizing. The existing zero cashflow loan must be assumed and includes the attractive pay down re-advance feature. The investment is priced at 16.5% equity over the debt balance. Walgreens is the second largest pharmacy chain in the US. It specializes in filling prescriptions, health and wellness products, health information, and photo services. The company operates more than 9,450 locations across all 50 states and US territories. Walgreens was founded in Chicago, IL in 1901 and went public in 1927. It is headquartered in the Chicago suburb of Deerfield, IL. Lake Wales is part of the Lakeland-Winter Haven MSA which has over 666k people. The subject property is located on a dense retail corridor with the average vehicles per day being 35,000. There are many national retailers near by such as Home Depot, Publix, Lowes, McDonald’s, and more. There are two country clubs with golf courses less than 5-miles away. Legoland Florida Resort is only 7 miles away and features Legoland Hotel, Legoland theme park, restaurants, and shopping.