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Walgreens Absolute NNN Lease 280 San Antonio Ave 13,436 SF Retail Building Many, LA 71449 $3,120,000 ($232.21/SF) 7% Cap Rate
Investment Highlights
- Absolute NNN Lease with Zero Landlord Responsibilities
- Corporate Guarantee - Backed by Walgreens Boots Alliance
- Surrounded by National Retailers - McDonald’s, Burger King, Taco Bell, Tractor Supply Co., AutoZone, and O’Reilly Auto Parts
- 5% Rental Increases Every 5 Years -Throughout the Primary Term and Option Periods
- Freestanding Drive-Thru Location - ±13,436 SF Building on ±1.23 Acres
- $61,955 Average Household Income and ±3,649 Employees Within a 5-Mile Radius
Executive Summary
The Kase Group is pleased to present the opportunity to acquire a corporately guaranteed Walgreens located in Many, Louisiana. The asset is secured by a 12+ Year NNN lease with zero landlord obligations, corporately guaranteed by Walgreens Boots Alliance. The lease commenced in 2024 and runs through 2039, with 5% rental increases every five years throughout the initial term and each of the twelve (12) five-year renewal options.
The ±13,436 square foot freestanding building sits on a ±1.23-acre parcel and is offered as fee simple ownership. The asset is located at a signalized hard-corner intersection with ±20,700 vehicles per day along San Antonio Avenue and Hill Street. The surrounding trade area includes a strong mix of national tenants such as McDonald’s, Burger King, Taco Bell, Tractor Supply Co., AutoZone, and O’Reilly Auto Parts.
The ±13,436 square foot freestanding building sits on a ±1.23-acre parcel and is offered as fee simple ownership. The asset is located at a signalized hard-corner intersection with ±20,700 vehicles per day along San Antonio Avenue and Hill Street. The surrounding trade area includes a strong mix of national tenants such as McDonald’s, Burger King, Taco Bell, Tractor Supply Co., AutoZone, and O’Reilly Auto Parts.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
13,436 SF
Building Class
B
Year Built
2009
Price
$3,120,000
Price Per SF
$232.21
Cap Rate
7%
NOI
$218,400
Tenancy
Single
Building Height
1 Story
Building FAR
0.25
Lot Size
1.23 AC
Zoning
B-3 - Commercial
Parking
46 Spaces (3.42 Spaces per 1,000 SF Leased)
Amenities
- Corner Lot
- Dedicated Turn Lane
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
Nearby Major Retailers
Property Taxes
| Parcel Number | 0043087100 | Improvements Assessment | $181,224 |
| Land Assessment | $43,780 | Total Assessment | $225,004 |
Property Taxes
Parcel Number
0043087100
Land Assessment
$43,780
Improvements Assessment
$181,224
Total Assessment
$225,004
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Walgreens Absolute NNN Lease | 280 San Antonio Ave
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