3336 Post Rd
Warwick, RI 02886
Walgreens | Increases | Exercised Option · Retail Property For Sale

Pharma Property Group has been exclusively retained by ownership to present for sale the opportunity to acquire the Walgreens property located in Warwick, RI. Walgreens recently exercised its first option showing commitment to this location. The lease has approximately five (5) years remaining before the eight (5-year) options to follow and operates on a double net lease basis with landlord responsible for roof and structure. The lease allows for increases in each of the remaining eight (5-year) options. Rent increases to $195,568 on January 1, 2024. Income guaranteed by Walgreens parent corporate (S&P BBB) investment grade Fortune 500 Company with over 9,500 locations. The subject property is located approximately eleven miles southeast of downtown Providence, the capital city of Rhode Island. The average household income in a one-mile radius is $87,542, in a three-mile radius it is $84,304, and it is $83,123 in a five-mile radius. Total 5-mile population count is 151,795 residents. The subject property is located at the signalized intersection of Plainfield Street and Atwood Avenue with a total traffic count of approximately 25,500 vehicles per day. Warwick, the second largest city in Rhode Island, is located in Kent County and is part of the Providence metropolitan area with a population of over 1.6 million residents. Warwick’s central location provides access to over 300,000 residents within a 10-mile radius. Two thirds of New England’s total population of 8.7 million live within a 75-mile radius. That includes 65 percent of the region’s manufacturers of plastics, chemicals, communications equipment and electrical machinery.