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Walgreens 7305 Spring Hill Dr 14,490 SF Retail Building Spring Hill, FL 34606 $4,213,000 ($290.75/SF) 6.50% Cap Rate
INVESTMENT HIGHLIGHTS
- 8+ Years Remaining | Scheduled Rental Increases | Leading Pharmacy Store Chain
- Signalized, Hard Corner Intersection | Excellent Visibility | Adjacent Shopping Center | Strong National/Credit Tenants
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Nearby Apartments | Demographics in 5-Mile Trade Area
EXECUTIVE SUMMARY
SRS Real Estate Partners-SOFLO LLC National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, drive-thru pharmacy equipped, freestanding, Walgreens investment property located in Spring Hill, Florida (Tampa MSA). The tenant has 8+ years remaining on the initial term of the lease with 6 (5-year) options to extend, demonstrating their commitment to the site. The lease features 5% rental increases every 5 years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. Headquartered in Deerfield, IL, Walgreens operates over 9,200 stores across all 50 states and was recently included in FORTUNE’s 2020 list of the World’s Most Admired Companies for the 27th consecutive year.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
14,490 SF
Building Class
B
Year Built
2007
Price
$4,213,000
Price Per SF
$290.75
Cap Rate
6.50%
NOI
$273,861
Tenancy
Single
Building Height
1 Story
Building FAR
0.29
Lot Size
1.14 AC
Opportunity Zone
Yes
Zoning
Commercial
Parking
49 Spaces (3.38 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Corner Lot
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | R32-323-17-5030-0149-0010 | Improvements Assessment | $1,987,497 |
| Land Assessment | $419,730 | Total Assessment | $2,407,227 |
PROPERTY TAXES
Parcel Number
R32-323-17-5030-0149-0010
Land Assessment
$419,730
Improvements Assessment
$1,987,497
Total Assessment
$2,407,227
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Walgreens | 7305 Spring Hill Dr
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