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    2094 Us Highway 90 Lake City, FL 32055

    Sponsored
    For Sale
    $4,930,000

    High-yield Walgreens NNN lease, Florida

    Property size:
    15,120 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 15,120-square-foot Walgreens located in Lake City, Florida. The property, built in 2000, sits on a 2.04-acre lot with 71 parking spaces and enjoys a prime location at the signalized intersection of W US Hwy 90 and State Rd 247, boasting 42,000 vehicles per day. It's an outparcel to a retail center anchored by Home Depot, Aldi, and Dollar Tree, and benefits from proximity to I-75. The property features a strong 13-year NNN lease with Walgreens (NASDAQ: WBA), providing a corporate guarantee and a substantial remaining lease term of 10.8 years. Rent increases of 5% every 5 years are built into the lease, extending through twelve 5-year option periods. The property's NOI is $332,640, resulting in a 6.75% cap rate, and is offered at an asking price of $4,930,000 ($358.47/sq ft). The surrounding area includes numerous national retailers, further enhancing the property's value and potential for long-term growth. This fee-simple offering presents a compelling investment opportunity with minimal landlord responsibilities and significant upside potential. The Gainesville-Lake City CSA boasts a population of 354,299 and includes several major employers.

    Property Features for 2094 Us Highway 90

    General Information

    Property type
    Lifestyle centers
    Square Feet
    15,120 SF
    Lot Size
    88,862 SF

    Building Details

    Year Built
    2000

    HighLights

    • Triple Net (NNN) lease; no landlord responsibilities.
    • Fee simple ownership.
    • Walgreens (NASDAQ: WBA) guaranteed lease.
    • 13‑year lease with 5% rent increases every 5 years, including option periods.
    • High‑traffic location: signalized corner, 42,000 VPD, <1.5 miles from I‑75 S on‑ramp, 2 miles southwest of downtown Lake City.
    • Strong retail location: outparcel in a center with Home Depot, Aldi, Dollar Tree, and other major retailers.
    Property Profile Location Intelligence

    Current Use by Public Records

    Walgreens Photo Passport Photo Processor Blue Rhino Propane ... Propane Supplier Walgreens Drug Store COVID-19 Drive-Thru Testing ... Pharmacy Coinhub Bitcoin ATM ... Atm

    Suggested Use

    Realty agency Restaurant Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lake City
    County
    Columbia
    State
    Florida
    Longitude
    -82.6664876
    Latitude
    30.1779898

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    FAQs

    What type of property is this?
    Lifestyle center - High-yield Walgreens NNN lease, Florida
    Where is this lifestyle center located?
    The property is located at 2094 Us Highway 90 Lake City, FL.
    What is the asking price?
    The asking price for this property is $4,930,000.
    What are key features of this property?
    This property features: Triple Net (NNN) lease; no landlord responsibilities.; Fee simple ownership.; Walgreens (NASDAQ: WBA) guaranteed lease.
    Request Owner's contact information
    2094 Us Highway 90 Lake City, FL 32055
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    Lake City, FL 32055
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2094 Us Highway 90 Lake City, FL 32055
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