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Walgreens 4529 W Hillsboro Blvd 14,478 SF Retail Building Coconut Creek, FL 33073 $7,669,609 CAD ($529.74 CAD/SF) 6% Cap Rate
EXECUTIVE SUMMARY
Current Real Estate Advisors is pleased to present the opportunity to acquire this Walgreens in Coconut Creek (FTL MSA), FL (the “Property”), a freestanding ±14,478 SF retail building sited on 2.14 acres, located at a signalized corner (84.5K+ VPD) and shadow anchored by The Marketplace at Hillsboro—a 110K+ SF grocery anchored shopping center.
This Walgreens offering benefits from ±12.5 years remaining on their recently renewed Absolute NNN lease (zero landlord responsibilities). Further, it includes attractive 5% increases every 5 years, as well as 12, 5-year options - demonstrating this proven operator’s commitment to the location.
The Property is available as part of a portfolio of Walgreens assets (available together or separately), presenting a unique opportunity for an astute investor to acquire strategically distributed real estate in Florida (or to hand pick their desired location for an individual acquisition), that includes properties with long-term stability, stable cash flow and excellent underlying real estate fundamentals.
Strong Operating History - Walgreens has operated at this location for 20+ years and recently reaffirmed its long-term commitment by executing a new 15-year lease extension, underscoring the strength and performance of this store
Secure + Steady Income Stream - Backed by a long-term Absolute NNN lease with zero landlord responsibilities, the Property features 5% rental increases every five years, delivering truly passive income and built-in inflation protection
Robust RE Fundamentals - Strategically positioned at the signalized intersection of W Hillsboro Blvd & Lyons Road (84,500+ VPD), this 2+ Acre site benefits from strong visibility within an established retail corridor
Adjacent Market Drivers - Shadow-anchored by the The Marketplace at Hillsboro, a 110K+ SF Key Food–anchored shopping center and located caddy-corner to West Creek Commons, a 100K+ SF Publix–anchored center
This Walgreens offering benefits from ±12.5 years remaining on their recently renewed Absolute NNN lease (zero landlord responsibilities). Further, it includes attractive 5% increases every 5 years, as well as 12, 5-year options - demonstrating this proven operator’s commitment to the location.
The Property is available as part of a portfolio of Walgreens assets (available together or separately), presenting a unique opportunity for an astute investor to acquire strategically distributed real estate in Florida (or to hand pick their desired location for an individual acquisition), that includes properties with long-term stability, stable cash flow and excellent underlying real estate fundamentals.
Strong Operating History - Walgreens has operated at this location for 20+ years and recently reaffirmed its long-term commitment by executing a new 15-year lease extension, underscoring the strength and performance of this store
Secure + Steady Income Stream - Backed by a long-term Absolute NNN lease with zero landlord responsibilities, the Property features 5% rental increases every five years, delivering truly passive income and built-in inflation protection
Robust RE Fundamentals - Strategically positioned at the signalized intersection of W Hillsboro Blvd & Lyons Road (84,500+ VPD), this 2+ Acre site benefits from strong visibility within an established retail corridor
Adjacent Market Drivers - Shadow-anchored by the The Marketplace at Hillsboro, a 110K+ SF Key Food–anchored shopping center and located caddy-corner to West Creek Commons, a 100K+ SF Publix–anchored center
PROPERTY FACTS Under Contract
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,478 SF
Building Class
B
Year Built
2003
Price
$7,669,609 CAD
Price Per SF
$529.74 CAD
Cap Rate
6%
NOI
$460,177 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
2.14 AC
Zoning
PCD
Parking
85 Spaces (7.47 Spaces per 1,000 SF Leased)
AMENITIES
- Dedicated Turn Lane
- Drive Thru
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 48-42-05-13-0021 | Improvements Assessment | $3,172,794 CAD |
| Land Assessment | $3,146,111 CAD | Total Assessment | $6,318,905 CAD |
PROPERTY TAXES
Parcel Number
48-42-05-13-0021
Land Assessment
$3,146,111 CAD
Improvements Assessment
$3,172,794 CAD
Total Assessment
$6,318,905 CAD
CONTACTS
-
Michael Williams -
Alejandro Snyder -
Cristina Calonia -
Current Real Estate Advisors
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Walgreens | 4529 W Hillsboro Blvd
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