Walgreens | 1199 Highway 49 S
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Walgreens 1199 Highway 49 S
14,560 SF 100% Leased Retail Building Richland, MS 39218 $3,988,000 ($274/SF) 8.50% Cap Rate
Investment Highlights
- Absolute Triple-Net (NNN) Lease with Corporate Walgreens Guaranty
- 38,740 Residents within a 5-Mile Radius - Growing Trade Area in the Jackson MSA
- Dense Retail Corridor - Surrounding Tenants Include Walmart, Kroger, Burger King, McDonald's, and Tractor Supply Co
- 6 Years Remaining on Lease Term with Multiple Renewal Options
- Signalized Hard Corner Location, Visible to Nearly 51,000 Cars per Day at the Intersection of Highway 49 South and Scarbrough Street
- Directly Across from Richland High School (800 Students)
Executive Summary
Walgreens is an American pharmaceutical company which operates the largest drug retailing chain in the United States of America. It specializes in serving prescriptions, health & wellness products, health information and photo services. As of 2023, the company operates 8,700 stores in all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands.
Richland is a city in Rankin County, Mississippi, home to more than 7,000 residents comprising 2,645 households. A suburb of Jackson, Richland is part of the Jackson metropolitan area, southeast of the state capital.
Richland is a city in Rankin County, Mississippi, home to more than 7,000 residents comprising 2,645 households. A suburb of Jackson, Richland is part of the Jackson metropolitan area, southeast of the state capital.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,560 SF
Building Class
C
Year Built
2005
Price
$3,988,000
Price Per SF
$274
Cap Rate
8.50%
NOI
$339,000
Percent Leased
100%
Building Height
1 Story
Building FAR
0.26
Lot Size
1.31 AC
Opportunity Zone
Yes
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | D06K-000023-00000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $240,532 |
PROPERTY TAXES
Parcel Number
D06K-000023-00000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$240,532
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Walgreens | 1199 Highway 49 S
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