Walgreens NNN Investment
10870 Overseas Hwy, Marathon, FL 33050
Absolute NNN leased Walgreens in Marathon, Florida with zero landlord responsibilities.
Type:Retail
Property size:
16,904 SFPrice / SF:
$453/SF- Added:
- Nov 20, 2024
- Days on Market:
- 539
- Last Refresh:
- Mar 17 at 1:13 pm
Property Features for 10870 Overseas Hwy
General Information
- Standard status
- Active
- Size
- 16,904 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1996
Listing agent Patrick Nutt License #BK3120739
Listing office SRS Real Estate Partners Tampa
Listing date Nov 20, 2024
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of SRS Real Estate Partners Tampa
HighLights
- Absolute NNN lease with zero landlord responsibilities, providing a management‑free investment.
- Brand new 15‑year lease with Walgreens, Inc., with 4 (5‑year) options to extend, indicating long‑term commitment.
- Located at a signalized, hard corner intersection with high traffic volume (31,000 VPD).
- 5% rental increases every 5 years throughout the initial term and option periods, hedging against inflation.
- Affluent 1‑mile radius with an average household income of $133,248.
- Located in a dense retail corridor with strong tenant synergy and proximity to Florida Keys Marathon Airport.
Overview
This is an opportunity to acquire a fee simple interest in an absolute NNN leased Walgreens investment property in Marathon, Florida. Walgreens recently signed a new 15-year lease with four 5-year options to extend, demonstrating commitment to the location. The lease includes 5% rental increases every 5 years throughout the initial term and at the beginning of each option period. The lease is absolute NNN with zero landlord responsibilities. Walgreens operates nearly 9,000 retail locations across the U.S. and Puerto Rico, serving nearly 9 million customers and patients daily. The property is located at the signalized corner of Overseas Hwy and 109th St Gulf, with a combined traffic count of 31,000 vehicles per day. It is situated in a dense retail corridor near national tenants, including Bealls, Sherwin-Williams, Dunkin’, Circle K, Tire Kingdom, Hampton Inn, and Advance Auto Parts. The asset benefits from proximity to Florida Keys Marathon Airport, increasing consumer traffic. The property features visibility via street frontage and a pylon sign. The 5-mile trade area is supported by over 10,000 residents and 6,000 employees. Residents within a 1-mile radius have an average household income of $133,248. The property size is 16,904 square feet.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Walgreens Photo
(Bike/Boat/Book/etc) Store
Walgreens Pharmacy
Pharmacy
Walgreens
Pharmacy
Coinhub Bitcoin ATM ...
Atm
FedEx OnSite
Postal Service
Similar Places Nearby
- Walgreens Pharmacy — 10870 Overseas Hwy, Marathon, FL 33050
- Walgreens — 10980 3rd Avenue Gulf, Marathon, FL 33050
- Jerry W. Kuntz, RPh — 10870 Overseas Hwy, Marathon, FL 33050
- Laura I. Diaz-Jane, PharmD — 10870 Overseas Hwy, Marathon, FL 33050
- Kendahl Burnett — 10870 Overseas Hwy, Marathon, FL 33050
Location Insight
- Map
- Local Demand
- City
- Marathon
- County
- Monroe
- State
- Florida
- Longitude
- -81.0381424
- Latitude
- 24.7291523
Nearby Similar for Sale
FAQs
What type of property is this?
Drug store - Absolute NNN leased Walgreens in Marathon, Florida with zero landlord responsibilities.
Where is this drug store located?
The property is located at 10870 Overseas Hwy Marathon, FL.
What is the asking price?
The asking price for this property is $7,670,000.
What are key features of this property?
This property features: Absolute NNN lease with zero landlord responsibilities, providing a management‑free investment.; Brand new 15‑year lease with Walgreens, Inc., with 4 (5‑year) options to extend, indicating long‑term commitment.; Located at a **signalized, hard corner intersection with high traffic volume (31,000 VPD).**
