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Walgreens 680 E Burleigh Blvd 14,723 SF Retail Building Tavares, FL 32778 $4,788,000 ($325.21/SF) 6.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute Triple Net Lease | Lease is absolute triple net, and there are no landlord responsibilities.
- Lease Guaranteed by Walgreens Corporate Entity | Walgreens is one of the nation's largest leading drugstore chains, operating 8,600+ drugstores
- Long-Term, 15-Year Lease with Rare Rental Increases of 5% Every Five Years
EXECUTIVE SUMMARY
Surmount is pleased to present the exclusive listing for a Walgreens located at 680 E Burleigh Blvd, Tavares, FL 32778. The site consists of roughly 14,723 rentable square feet of building space on an estimated 1.9-acre parcel of land. This Walgreens is subject to a 15-year Triple Net (NNN) lease, which commenced 8/28/2024. The current annual rent is $311,220 and has scheduled increases of 5.00% every 5 years.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,723 SF
Building Class
C
Year Built
2009
Price
$4,788,000
Price Per SF
$325.21
Cap Rate
6.50%
NOI
$311,220
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
1.90 AC
Zoning
C2
Parking
71 Spaces (0 Spaces per 1,000 SF Leased)
Frontage
314’ on E Burleigh Blvd
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 21-19-26-0010-000-00300 | Improvements Assessment | $1,266,904 |
| Land Assessment | $1,331,428 | Total Assessment | $2,598,332 |
PROPERTY TAXES
Parcel Number
21-19-26-0010-000-00300
Land Assessment
$1,331,428
Improvements Assessment
$1,266,904
Total Assessment
$2,598,332
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Walgreens | 680 E Burleigh Blvd
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