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418 Quincy Ave 13,656 SF Retail Building Quincy, MA 02169 $6,004,000 ($439.66/SF) 6% Cap Rate

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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.

PROPERTY FACTS

Sale Type

Investment

Property Type

Retail

Property Subtype

Drug Store

Building Size

13,656 SF

Building Class

Year Built

1997

Price

$6,004,000

Price Per SF

$439.66

Cap Rate

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

293’ on Quincy Ave

Bus Line
Pylon Sign

Signalized Intersection

Drive Thru

Car Charging Station

MAJOR TENANTS

Retailer
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Walgreens is a trusted and convenient local health destination that millions of Americans rely on every day. Their founder, Charles R. Walgreen Sr., was known for finding new ways to connect with customers on a personal level and treating each person like a guest in his own home. For over a century, they have expanded that personal connection through their network of neighborhood pharmacies and their innovative health services and products. The foundation for all of this is their trusted pharmacy expertise, and their team members who provide essential care that helps people achieve better health outcomes at an affordable cost.