Walgreens | Top Performing Store | Over 10 Years Remaining
1000 Club Village Dr Columbia, MO 65203
Price: $5,208,000
Status: Sold
Cap Rate: 5.00%
Year Built: 2000
NOI: $260,397
Lot Size: 2.24 acres
Price Per Foot: $469
Lease Type: Double-Net (NN)
Remaining Term: 10+ Years
GLA: 11100 sqft
Property Intro
Lee & Associates, in conjunction with Missouri real estate broker Bang Realty-Missouri, Inc. (Broker Lic# 2017032770), is pleased to exclusively offer for sale, the fee simple interest (land & building) in a Walgreens property located in Columbia, MO (the “Property”). Built in 2000, the Property consists of a 11,100-square-foot retail building with two drive-thru lanes that sits on an approximately 2.24-acre parcel.
investment highlights
- WALGREENS (NYSE: WBA) • INVESTMENT GRADE CREDIT (S&P: BBB) • LARGEST RETAIL PHARMACY IN THE U.S. & EUROPE
- The building is leased to Walgreens Co. (NYSE: WBA) on a corporate lease providing an investor with an investment grade credit rating from Standard of Poor’s of “BBB”. Walgreen’s parent company Walgreens Boots Alliance, Inc. is currently the largest retail pharmacy in the US and Europe, with 13,200 stores in over 11 countries and an impressive $50B market CAP.
- SUPERIOR LOCATION • TOP PERFORMING WALGREENS STORE • SURROUNDING MEDICAL FACILITIES • JUST 2 MILES FROM THE UNIVERSITY OF MISSOURI (30,000 STUDENTS) • BUILT-IN REVENUE DRIVERS
- This is a high performing store for Walgreens (see broker for sales reporting) due to its superior location surrounded by medical facilities in every direction. Across the street is the Boone Medical Group Urgent Care, and the Woodrail Centre, an office park with medical tenants such as Missouri Ear Nose & Throat Center, the Center for Rheumatic Diseases, and Dermatology and Skin Surgery Center. Additionally, the Walgreens is just two miles from the University of Missouri, which is the largest employer in Columbia and has an enrollment of just under 30,000 students.
- HARD CORNER SIGNALIZED LOCATION • EXCELLENT VISIBILITY/ACCESS • JUST 3 MILES FROM HWY 63 (29,200 CPD)
- The subject property is ideally located at the signalized intersection of Forum Blvd & W. Nifong Blvd, a major travel corridor for commuters traveling to/from Hwy 63 just 3 miles to the east. This location offers excellent visibility and access to over 29,000 cars per day combined, with multiple entrances off of Club Village Drive providing easy in/out access to the property.
- 10+ YEARS REMAINING ON TERM • EARLY LEASE EXTENSION REFLECTS COMMITMENT TO THE SITE • AFFLUENT DEMOGRAPHICS
- There are roughly 10.8 years of firm lease term remaining on a double-net (NN) lease with eight 5-year renewal options running through the year 2072. In 2015, with over 7 years remaining on the term, Walgreens extended the lease early for an additional 10 years, reflecting their commitment to the site. The tenant benefits from strong surrounding demographics, with over 21,500 households with an average household income of $94,000 within a 3-mile radius.
- LOCATED IN COLUMBIA • FASTEST GROWING CITY IN MISSOURI • CENTRALLY LOCATED BETWEEN ST. LOUIS & KANSAS CITY
- The subject property is located within Columbia, the county seat of Boone County, in central Missouri. It is Missouri’s fourth most-populous and fastest growing city, with an estimated 123,300 residents in 2020. Located on Interstate 70 and U.S. Highway 63, Columbia is right in the middle of the state and the nation, just a couple of hours drive from St. Louis and Kansas City. Columbia offers small-town friendliness with big city features and a high quality of life for people of all ages and interests. Columbia is Boone County’s largest population center and has received numerous national awards and recognition from U.S. News & World Report, Money magazine, Fortune magazine and others as one of the best places to live in the country.
listing agents
