NNN Leased Big 5
2152 Dell Range Blvd | Cheyenne, WY
Sq. Feet 42,782
The subject property is a 4,210-square foot Walgreens in Linn, Missouri. Walgreens has signed a corporate backed 60-year absolute net lease which commenced in 2012. There are more than seven years remaining before the next termination option. Walgreens recently waived their first termination option subject to a rent reduction. Walgreen, Co., which is publicly traded on the New York Stock Exchange under the ticker symbol “WAG”, has a current “BBB“ credit rating by Standard & Poors.
Located on Main Street, which is also US Route 50, the property features excellent visibility and through traffic on one of the main Highways between St. Louis and Jefferson City. The store is located 2.5 miles West of State Technical College of Missouri - Missouri's only public two-year college with a current enrollment of over 1,200 Students. The campus is almost 250 acres and features ten academic buildings with technical laboratories, on-campus housing, and a public airport which includes an AVGAS fueling station.
Cap Rate: 8.25% NOI: $60,000 Livable Sq. Ft: 4,210
Built in 1984 units Lot Sq. Ft: 14,810