Drug Store Ground Lease with
977 US-98 Destin, FL 32541
977 US-98, Destin, FL, 32541
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For Sale
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Pending
Absolute NNN leasehold with drive-through lane and 12 years remaining, featuring 5% rent increases every five years.
Days on Market102
Property Features for 977 US-98
General Information
- Standard status
- Pending
- Property subtype
- Retail
Listing agency
Marcus & Millichap - Nashville
Listed by
Jason Hernandez · License #CA 01392646
Source
Crexi
Added: Apr 11 Updated: Jul 21 at 3:00AM Checked: Jul 21 at 3:00AM
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 Marcus & Millichap - Nashville
Investment Insights
Based on property information with market context.
The property is a drug store investment offered as a leasehold interest under an absolute NNN structure. Public remarks indicate there is no landlord management or maintenance responsibility whatsoever, and the offering is subject to a ground lease. The lease term is shown as having 12 years remaining, with 5% rent increases scheduled every five years during the original term and at each renewal option period if exercised.
The tenant is described as Walgreen Co., a subsidiary of Walgreens Boots Alliance, Inc., with Walgreens Boots Alliance, Inc. listed in the remarks regarding financial data; the remarks also state that Walgreens Boots Alliance does not guarantee the lease. The property is further described as having a critical drive-through lane designed to accommodate vehicles.
Buyer is responsible for verifying all estimates and details during due diligence, as items such as rentable area, lot size, guarantor, lease terms, building specifications, year built, and ratings are stated as estimates in the remarks.
The tenant is described as Walgreen Co., a subsidiary of Walgreens Boots Alliance, Inc., with Walgreens Boots Alliance, Inc. listed in the remarks regarding financial data; the remarks also state that Walgreens Boots Alliance does not guarantee the lease. The property is further described as having a critical drive-through lane designed to accommodate vehicles.
Buyer is responsible for verifying all estimates and details during due diligence, as items such as rentable area, lot size, guarantor, lease terms, building specifications, year built, and ratings are stated as estimates in the remarks.
Key Highlights
- Absolute NNN leasehold: 12 years remaining and the tenant operates under an absolute NNN structure.
- Lease features 5% rent increases every 5 years during the original term and renewal options (if exercised).
- Includes a critical drive‑through lane to support customer service in vehicles.
Property Analytics
Location Intelligence
Current Use by Public Records
Drug stores
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FAQs
What type of property is this?
Drug store - Absolute NNN leasehold with drive-through lane and 12 years remaining, featuring 5% rent increases every five years.
Where is this drug store located?
The property is located at 977 US-98 Destin, FL.
What are key features of this property?
This property features: Absolute NNN leasehold: 12 years remaining and the tenant operates under an absolute NNN structure.; Lease features 5% rent increases every 5 years during the original term and renewal options (if exercised).; Includes a critical drive‑through lane to support customer service in vehicles.
