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Midwestern Absolute NNN Walgreens With 12 Years Remaining On Base Term

345 East 20th Street, Dubuque, Iowa 52001, USA Map
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Listing Price $5,499,000

Status Closed
Lease Type Absolute Net
Property Type Retail
CAP Rate 5.96%
GLA (Sq. Ft.) 14,568
Lease Term Remaining 12 Years
State (BOR) IA
Broker of Record Jon Ruzicka
License # (BOR) B63379000

Investment Highlights

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  • Subject is a Prime 14,568 Square-Foot Walgreens Located on a Signalized Hardcorner, Highly Visible 1.2 Acre Lot with Exceptional Ingress/Egress, Drive-Thru and Ample Parking
  • Extremely Strong Location Fundamentals for Prime Infill, Features Absolute NNN Lease with Zero Landlord Responsibilities
  • Robust Traffic Counts on 20th Street (6,200 VPD) and Four Blocks off of Central Ave (8,400 VPD), the Main Thoroughfare in Downtown Dubuque (Source: IowaDOT, 2018)
  • Investment-Grade Credit Tenant Walgreens Boots Alliance (NASDAQ: WBA) has a Long-Term Stable Credit Rating of Baa2 (Stable) from Moody’s and Investment Grade Rating of BBB (Stable) from S&P
  • Well Established Retail Corridor in Downtown Dubuque Near the River | The Area Includes a Mix of National Brands and Local Flair Such as BP Gas Station, Hardee’s, T-Mobile, Eagle Country Market, KFC, and More
  • Affluent Community with 70,551 Residents Living in 27,834 Households with an Average Income of Over $77,000 Within Five Miles of the Subject Asset, as of 2020
  • Subject is 8 Miles from Dubuque Regional Airport, Awarded Every Year as One of the Safest in the Nation (flydbq.com)
  • Parks and Outdoor Recreational Facilities Nearby Include: Swiss Valley Nature Preserve, Dubuque Arboretum & Botanical Gardens, Crystal Lake Cave, McAleece Park, and the Mighty Mississippi

Investment Overview

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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2020 Marcus & Millichap and Limon Net Lease Group

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