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418 Quincy Ave 13,656 SF Retail Building Quincy, MA 02169 $6,004,000 ($439.66/SF) 6% Cap Rate
Executive Summary
Atlantic Capital Partners has been exclusively engaged to solicit offers for the sale of the Walgreens located at 418 Quincy Avenue in Quincy, Massachusetts. The offering features a rare and newly restructured lease with Walgreens with rent increases throughout the primary term and lease option periods. Walgreens has maintained a long
operating history at the site since 1997, with a new 15-year absolute NNN that commenced in 2023 and runs through February of 2038.
The property is situated on an oversized 1.78-acre parcel and enjoys excellent visibility and accessibility along Quincy Avenue, with nearly 35,000 vehicles per day passing the site. The offering benefits from its positioning within a dense, affluent, and high-barrier to- entry market located just 9 miles south of Boston, with 126,000 residents in a 3-mile radius with average household incomes of approximately $135,000.
operating history at the site since 1997, with a new 15-year absolute NNN that commenced in 2023 and runs through February of 2038.
The property is situated on an oversized 1.78-acre parcel and enjoys excellent visibility and accessibility along Quincy Avenue, with nearly 35,000 vehicles per day passing the site. The offering benefits from its positioning within a dense, affluent, and high-barrier to- entry market located just 9 miles south of Boston, with 126,000 residents in a 3-mile radius with average household incomes of approximately $135,000.
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Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
13,656 SF
Building Class
C
Year Built
1997
Price
$6,004,000
Price Per SF
$439.66
Cap Rate
6%
NOI
$360,240
Tenancy
Single
Building Height
1 Story
Building FAR
0.17
Lot Size
1.87 AC
Opportunity Zone
Yes
Zoning
BUSB
Parking
50 Spaces (3.66 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Pylon Sign
- Signalized Intersection
- Drive Thru
- Car Charging Station
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- -
Walgreens is a U.S.-based retail pharmacy operator providing prescription drugs, health services, and consumer goods through neighborhood drugstores and digital platforms. The company was founded in 1901 by Charles Rudolph Walgreen in Chicago, Illinois. Over time, Walgreens expanded nationwide and became one of the largest pharmacy chains in the United States. In 2014, Walgreens became part of the newly formed holding company Walgreens Boots Alliance following the acquisition of Alliance Boots.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | - |
Walk Score®
Very Walkable (74)
Nearby Major Retailers
Property Taxes
| Parcel Number | QUIN-002084C-000059-000001 | Improvements Assessment | $2,643,700 |
| Land Assessment | $863,900 | Total Assessment | $3,507,600 |
Property Taxes
Parcel Number
QUIN-002084C-000059-000001
Land Assessment
$863,900
Improvements Assessment
$2,643,700
Total Assessment
$3,507,600
Contacts
-
Eric Suffoletto -
Danny Griffin -
Kendra Doherty -
David Hoppe -
Ben Olmstead -
Atlantic Capital Partners
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418 Quincy Ave
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