Walgreens
| Status | Sold |
|---|---|
| Price | $1,705,000 |
| Cap Rate | 8.00% |
| NOI | $136,400 |
| Lease Type | Absolute NNN |
| Lease Term | 13 Years |
| Lease Start | 9/1/2022 |
| Lease Expiration | 8/31/2035 |
| Building Size | 14,704 SF |
| Lot Size | 2.43 AC |
Overview
Leasehold Interest NOT Fee Simple
Walgreens is situated with excellent visibility at the signalized hard corner of East 20th Street (11,045 VPD) and South Rangeline Road (28,520 VPD), which provides direct access to Interstate 44.
Walgreens is conveniently located in its own corridor surrounded by several major retailers in the immediate area including Home Depot, Lowe’s, Walmart Supercenter, Hobby Lobby, and ALDI. Less than a mile up Rangeline Road is the NorthPark Mall, anchored by Target, JCPenney, Ross Dress for Less, Bed Bath & Beyond, and JOANN Fabrics.
The city of Joplin is its own MSA (Population: 184,491) and is located in the southwestern portion of Missouri, just 10 miles east of the Kansas-Oklahoma-Missouri state borders. The city is positioned on historic route 66 – one of the original highways in the U.S. Highway System that runs over 2,000 miles from the California coast to Chicago, IL.