Walgreens St. Petersburg, Florida

$2,965,000
Cap Rate: 6.75%
Property type: Single-Tenant Net Lease

3700 34th Street North
St. Petersburg, FL 33713

Investment Highlights

  • Long Term, Double Net Lease with 6, 5-Year Renewal Options
  • Corporate Tenant | Corporate Guarantee
  • Located off 34th Street, With a Daily Traffic Count of Approx. 40,000 Vehicles
  • Located Directly Adjacent to a Busy Wawa Convenience Store and Gas Station
  • Four Miles from Tropicana Field, Home of the Major League Baseball’s Tampa Bay Rays
  • Five Miles from the University of South Florida at St. Petersburg, and St. Petersburg College
  • Seven Miles from St. Pete Beach and Eckerd College
  • Eight Miles from St Petersburg-Clearwater Int Airport
  • Part of the Tampa MSA With a Population of 2.8 Million

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a Walgreens located in St. Petersburg, Florida. Walgreens offers a longer, double net (NN) lease with approximately five years remaining and six, five-year renewal options. The subject property consists of a 15,525-square foot free-standing building, situated on a 2.00-acre parcel.  Walgreen offers a corporate tenant with a corporate guarantee. Walgreens (NYSE: WBA) is the largest drugstore chain in the United States with over 8,000 locations and sales volume of approximately 117.35 billion.

 

This Walgreens is located off 34th Street, with a daily traffic count of approximately 40,000 vehicles. The subject property is directly adjacent to a busy Wawa convenience store and gas station. Walgreens is 20 miles from Tampa, Florida, and five miles from the University of South Florida at St. Petersburg, and St. Petersburg College.

 

Part of the Tampa MSA, which has a population of 2.8 million, St. Petersburg is the fifth most populous city in the state and the largest city in Florida that is not a county seat. St. Petersburg and St. Pete Beach are both popular vacation destinations for both American and foreign tourists.

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