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333 Atwells Ave - Walgreens 14,116 SF Retail Condo Unit Offered at $4,375,000 in Providence, RI 02903
INVESTMENT HIGHLIGHTS
- Long Term Lease
- Proximity to Area Colleges
- Strategic Retail Location
- Corporate Lease
- Zero Management Responsibilities
- High Traffic Counts
EXECUTIVE SUMMARY
The Property is also convenient to US Routes 6 and 1 and Interstates 95 and 195. Walgreens offers the opportunity to acquire a well-located asset in one of the strongest real estate markets in a region that is poised for future growth.
PROPERTY FACTS
| Total Building Size | 20,000 SF | Floors | 1 |
| Property Type | Retail (Condo) | Typical Floor Size | 14,116 SF |
| Property Subtype | Storefront Retail/Residential | Year Built | 2008 |
| Building Class | C | Lot Size | 1.02 AC |
| Total Building Size | 20,000 SF |
| Property Type | Retail (Condo) |
| Property Subtype | Storefront Retail/Residential |
| Building Class | C |
| Floors | 1 |
| Typical Floor Size | 14,116 SF |
| Year Built | 2008 |
| Lot Size | 1.02 AC |
AMENITIES
- Bus Line
1 UNIT AVAILABLE
Unit Walgreens
| Unit Size | 14,116 SF | Sale Type | Investment |
| Price | $4,375,000 | Cap Rate | 8.00% |
| Price Per SF | $309.93 | NOI | $350,000 |
| Condo Use | Retail |
| Unit Size | 14,116 SF |
| Price | $4,375,000 |
| Price Per SF | $309.93 |
| Condo Use | Retail |
| Sale Type | Investment |
| Cap Rate | 8.00% |
| NOI | $350,000 |
DESCRIPTION
Walgreens has occupied this Property since it was constructed in 2007 and they have 7+ years remaining on an absolute triple-net lease with fifty (50), 1-year renewal options.
SALE NOTES
Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the fee-simple condominium interest in a single-tenant, absolute triple-net leased Walgreens located at 333 Atwells Avenue in Providence, Rhode Island (the “Property”). Walgreens has occupied this Property since it was constructed in 2007 and they have 7+ years remaining on an absolute triple-net lease with fifty (50), 1-year renewal options. Located in the Federal Hill neighborhood of Providence, Walgreens is positioned along Atwells Avenue, one of the area’s primary commercial corridors and is a short walk from Broadway and Providence’s Central Business District. The Property offers convenient access to abundant dining, retail, and nightlife options, and several colleges and universities, all of which drive traffic to the area. Adding to the area’s appeal is the proximity to a robust employment market and densely populated residential neighborhoods that provide a built-in customer base. The Property is also convenient to US Routes 6 and 1 and Interstates 95 and 195. Walgreens offers the opportunity to acquire a well-located asset in one of the strongest real estate markets in a region that is poised for future growth.
NEARBY MAJOR RETAILERS
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333 Atwells Ave - Walgreens
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