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Walgreens | New York City MSA 520 Cedar Ln

14,737 SF Retail Building Teaneck, NJ 07666 $8,700,000 ($590/SF) 6.43% Cap Rate

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Investment Highlights

Absolute Triple Net (NNN) Property w/zero Landlord Responsibilities.
Trophy Corner Location in Prominent Bergen County New Jersey (over 950k population)
Walgreens Boots Alliance has a Presence in More than 25 Countries, Employs more than 440,000 People and has more than 18,750 Stores

Built in 2016
Long Term Lease with just over 12 Years Remaining on the Original 75 Year Lease
Located on a Hard Corner Intersection on a Main Corridor in Teaneck with over 22,000 VPD Exposure

Executive Summary

KW Commercial has been retained on an exclusive basis to offer for sale this 14,000 SF+ Walgreens in Teaneck, NJ. With just over 12 years remaining on a Triple Net (NNN) Lease in a prime New York Metro market, this opportunity provides a Best-in-Class conservative and
dependable investment vehicle.

Walgreens-

Property Facts

Sale Type

Investment

Property Type

Retail

Property Subtype

Drug Store

Building Size

14,737 SF

Building Class

Year Built

2016

Price

$8,700,000

Price Per SF

$590

Cap Rate

6.43%

NOI

$559,588

Tenancy

Single

Building Height

1 Story

Building FAR

0.53

Lot Size

0.64 AC

Zoning

Frontage

93 FT on Elm Avenue

Amenities

Corner Lot

Signalized Intersection

MAJOR TENANTS

Retailer
14,737 SF
$37.97
Triple Net
Dec 2036

Walgreens is a trusted and convenient local health destination that millions of Americans rely on every day. Their founder, Charles R. Walgreen Sr., was known for finding new ways to connect with customers on a personal level and treating each person like a guest in his own home. For over a century, they have expanded that personal connection through their network of neighborhood pharmacies and their innovative health services and products. The foundation for all of this is their trusted pharmacy expertise, and their team members who provide essential care that helps people achieve better health outcomes at an affordable cost.