Located at 4860 Donald Ross Road, in Palm Beach Gardens, Florida, this Trophy Location Walgreens Ground Lease includes a rare a 10% hike in rent in every 10 years till 2028. This is an opportunity to acquire a Trophy Absolute NNN Leased Walgreens Ground Lease in one of the most affluent neighborhoods of Florida. The subject property includes a 14,500 sq.ft. building that sits on a massive 1.57-acre-parcel of land. It is strategically positioned at the intersection of Donald Ross Road and Central Boulevard that sees a combined traffic count of more than 46,700 vehicles per day. The population in the three-mile area has an average annual household income of more than $124,680. Known as Florida’s Golf Capital, Palm Beach Gardens is a paragon of luxury and tranquility. It is situated just inland from the coast, and you can find more than a dozen courses and some of the best in the business. Served as the headquarter of the Professional Golfers Association of America, the city is a scenic beauty of perfectly landscaped gardens, privacy, and abundant wealth.
The subject property falls adjacent to the Alton Town Center, which is a 350,000 sq.ft. mixed-use development with power/big box, entertainment/lifestyle, and retail components. Several national retailers are also present in the immediate area, including Publix, Bank of America, BB&T, PNC Bank, Wells Fargo, McDonald’s, and Dunkin Donuts.
This investment property is suitable for a 1031 exchange.
Property Details –
Property Type – Retail Property