Walgreens Ground Lease with 10% Increases Every 10 Years

  • $6,000,000
Donald Ross Road, Palm Beach Gardens, Palm Beach County, Florida, 33418, United States of America

Walgreens Ground Lease with 10% Increases Every 10 Years

Donald Ross Road, Palm Beach Gardens, Palm Beach County, Florida, 33418, United States of America
  • $6,000,000

Overview

Property ID: 18618
  • Property Type
  • Retail Properties
  • 14500
  • sqft

Description

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

  • Property Status – Closed
  • Location – Donald Ross Road, Palm Beach Gardens, Palm Beach County, Florida, 33418, USA
  • Year of Construction – N/A
  • Lease Type – Ground Net Lease
  • Lease Expiration – N/A
  • Property Size – 14500 sq.ft.

Details

Updated on April 22, 2020 at 12:02 pm
  • Price: $6,000,000
  • Property Size: 14500 sqft
  • Property Type: Retail Properties
  • Property Status: Closed
  • Cap Rate: 5.00%
  • Lease Expiration: N/A
  • NOI: $300,000
  • Tenant: Single Tenant Net Lease
  • Address Donald Ross Road, Palm Beach Gardens, Palm Beach County, Florida, 33418, United States of America
  • City Palm Beach Gardens
  • State/county Palm Beach County
  • Zip/Postal Code 33418

Contact Information

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Ronnie Issenberg
  • Ronnie Issenberg

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