Walgreens
5955 Airline Highway,
Baton Rouge, LA 70805
 
5.75%
CAP RATE
14,738
Building SF
$356,450
Current Rent
2.28 Acres
Parcel Size
Absolute NNN
Lease Type
2006
Year Built
Previous
Next
5.75%
CAP RATE
14,738
Building SF
$356,450
Current Rent
2.28 Acres
Parcel Size
Absolute NNN
Lease Type
2006
Year Built
ABSOLUTE NNN
Global Realty Capital Inc. is pleased to exclusively offer for sale the 14,738-square-foot Walgreens situated on 2.28 acres in Baton Rouge, LA (MSA Population: 854,884). Walgreens' absolute NNN lease has± 9.5 years of primary term remaining with ten 5-year renewal options.
Walgreen Co. (S&P: BBB), a subsidiary of Walgreens Boots Alliance Inc. (NASDAQ: WBA), operates 9,175 stores across 50 states, the District of Columbia and Puerto Rico. Walgreens Boots Alliance Inc. reported TTM revenue of $139.5 billion and total assets of $87.2 billion as of August 31. 2020. Walgreens has performed exceptionally well despite the headwinds created by the COVID-19 pandemic.
In total, the property benefits from dynamic demographics with a population of 66,233 and an average household income of $47,413 within a 3-mile radius.
STRATEGIC LOCATION
The property is located with excellent access and visibility on the signalized hard corner of Airline Highway (Traffic Count: 40,411 VPD) and Greenwell Street (Traffic Count: 18,403 VPD), just two miles from 1-110 (Traffic Count: 66,837 VPD) which provides direct access to downtown Baton Rouge (5 miles to the southwest).
Walgreens is located immediately across Greenwell Street from a CVS and is across Airline Highway from Chase Bank and Popeye's outparcels to the 104,433 square-foot Colonial Plaza shopping center (Anchors: Shoppers Value Foods, Dollar Tree).
Walgreens is within walking distance from the LSU Heath Baton Rouge North Clinic Urgent Care and benefits from close proximity to some of the area's main points of interest, including Claiborne Elementary School (1.5 miles to the northwest), Camelot College (2.6 miles to the southeast) and Baton Rouge Metropolitan Airport (3 miles to the northwest). Walgreens is located in the heart of a bustling retail and commercial corridor with 2.9 MSF of retail, 4.1 MSF of industrial, 1.2 MSF of office, and 5,533 multifamily units within a 3-mile radius. Other tenants with a presence in the immediate vicinity include The Home Depot, AutoZone, O'Reilly Auto Parts, Sherwin-Williams, Family Dollar, Dollar General, Regions Bank, T-Mobile, IHOP, Hancock Whitney Bank, Jack in the Box, McDonald's, KFC, RaceTrac, Texaco and Chevron, among many others.
BATON ROUGE, LA MSA
Baton Rouge-French for "red stick"-is the capital of Louisiana and serves as the state's political and transportation hub. With a current MSA population of 854,884, the Greater Baton Rouge MSA is a major industrial, medical, research, and technology center in the South.
The Port of Baton Rouge is the 8th largest in the United States in terms of tonnage shipped, and is the farthest port upstream the Mississippi River capable of handling Panamax ships. Baton Rouge enjoys a strong economy that has helped the city become ranked among the 'top 10 places for young adults· by Portfolio Magazine and one of the top 20 North American cities in terms of ·economic strength' by Brookings.
One of the most fascinating cities in the U.S. Baton Rouge features vibrant restaurants, charming neighborhoods, multitudes of music festivals, jazz clubs, historic monuments, and culture influenced by Europe, the Caribbean, Africa, and beyond.
FOR MORE DETAILS CONTACT
Mohammad Ashrif
Broker
(951) 660-7657
mmashrif@gmail.com
01102756
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