Walgreens Cleveland, OH

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Property

Overview

This 14,490 square foot NNN Walgreen’s is strategically located at the signalized intersection Lee Road and Harvard Ave which experiences traffic counts in excess of 43,000 vehicles per day. There are over 126,000 people living within a three mile radius of the property earning an average household income of over $60,000 per year.

The Walgreens features a drive-thru and has excellent visibility and signage. Walgreens has successfully operated at this location since 2002 and has 10 years remaining on their primary lease term with seven 5-year renewal option periods. Walgreens is committed to this location as evidenced by their recent lease extension. National retailers located in the area include Giant Eagle, Aldi’s, Marshalls, Rose’s, buybuy BABY, and Dollar Tree.

Walgreens is the largest drug retailing chain in the United States and has over 8,175 locations in the United States. Walgreens is publicly traded on the Nasdaq Stock Market (symbol: WBA) with a market capitalization in excess of $88 billion. Both Walgreen Co. and Walgreens Boots Alliance, Inc. are investment grade rated each with a Standard & Poor’s rating of BBB.

Key Facts

  • Property

  • • Over 126,000 within a 3-mile radius
  • • Signalized intersection with over 43,000 VPD
  • • 14,490 square feet
  • • Drive-thru
  • • Long-term history at property (since 2002) with recent lease extension
  • • 10 years remaining on lease-term
  • Walgreen's

  • • Investment grade tenant (S&P BBB)
  • • Publicly traded on the Nasdaq (symbol: WBA)
  • • Market cap in excess of $88 Billion
  • • Growing retailer with pending deal to acquire 2,168 stores from Rite-Aid (RAD)

Address

4071 Lee Road
Cleveland, OH 44128

Location

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Retailer Map

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Demographics

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Demos

1 Mile 3 Mile 5 Mile
Population 17,414 126,683 291,379
Households 7,392 54,021 123,561
Average Household Income $47,623 $60,524 $63,311

Team

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George Kidman

Investment Sales Broker
727.560.9917 gkidman@theimperiumcompanies.com

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