2620 S Nova Rd
Daytona Beach, FL 32119
Walgreens | Healthy Rent to Sales Ratio · Retail Property For Sale

Marcus & Millichap, on behalf of ownership, is pleased to exclusively offer the fee simple interest in this Walgreens (NYSE:WBA) located in Daytona Beach, Florida. Walgreens just exercised it' s first, five-year option term demonstrating its commitment to this location. There are now five years remaining on the double net lease with seven, five-year options remaining. The lease is guaranteed by Walgreen Corporation, now a subsidiary of Walgreens Boots Alliance Inc. after the company' s merger in 2014. Walgreens Boots Alliance, Inc. is investment grade, rated BBB by Standard & Poor' s. This offering provides a high yield opportunity with the comfort of a strong, credit tenant. Additionally, the rent PSF of $16.27 provides a healthy rent-to-sales ratio with the whisper number of store sales at approximately $5M. The Tenant is exceptionally well-located in this dense, infill submarket. Situated at the signaled intersection of South Nova Road and Reed Canal Road, the Tenant occupies a 13,905 square-foot store with prominent visibility to nearly 45,500 vehicles per day and significant pedestrian traffic. The Property has two means of ingress/egress, one from each road, and is within walking distance to Lakeview Estates, a 55+ mobile home community on the opposing corner. This is an established location that services the highly dense, immediate one-mile trade area comprised of more than 10,000 people. Located in Volusia County, Daytona Beach is the principal city of both the Fun Coast Region and the Deltona-Daytona-Beach-Ormond Beach MSA. Daytona Beach is historically known for its hard-packed sand beaches which made it a Motorsports mecca. The city is home to the Daytona International Speedway which operates 250 days each year, and hosts one of the nation' s most popular sporting events, the Daytona 500. Currently, more than 60 percent of attendees to the Daytona 500 travel from outside the state of Florida, and more than 50 percent stay five or more nights in Florida during their visit.