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1544 Manhattan Boulevard - Walgreens, Harvey, LA

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1544 Manhattan Boulevard - Walgreens

Harvey, LA 70058 - Westbank Submarket

Property Type:Retail Sub Type:Drug Store Status:Existing Year Built:2001
Building Size:14,450 SF Land Area:1.49 AC (64,952 SF)
For Sale Price:$4,960,000 Price/SF:$343.25
Cap Rate:7.50 %
Parking:Free Surface spaces are available; Ratio of 2.52/1,000 SF
Features:Bus Line, Dedicated Turn Lane, Pylon Sign, Signage, Signalized Intersection, Drive Thru

Sale Notes:
Stan Johnson Company is pleased to offer for sale to qualified investors the 100% fee-simple interest in a Walgreens property located in Harvey, Louisiana.

Walgreens is operating under a twenty year NN lease with more than six years remaining. The lease contains eight, five year renewal options. The NN lease structure requires the Tenant to pay for taxes, insurance and non-capital parking expenses while the Landlord is responsible for the roof, parking (replacement only) and the structure. This property has 14,450 SF, sits on 1.49 acres and features a Drive-Thru Pharmacy.

The subject property is situated on a corner lot fronting Manhattan Boulevard (46,200 VPD) and located near Westbank Expressway (95,857 VPD). Walgreens is visible from the street and adjacent to a signalized intersection. Other national tenants surrounding the property include Lowe’s, Walmart Supercenter, Sam’s Club, Target, McDonald’s, Starbucks and many more. Harvey is a suburb of New Orleans and has a population of over 290,000 within five miles of the subject property, and average household income of over $66,000 within five miles.

Walgreens is a national leader in providing prescription and non-prescription drugs and household consumer products. With an S&P credit rating of BBB, Walgreens is consistently regarded as one of the most financially sound organizations in the United States. Walgreen Co. as of August 31, 2014 had total revenue of $76.39 billion and net income of $1.93 billion.

Stan Johnson Company
Ryan Butler
(918) 494-2690

Brad Moulder
(918) 494-2690

Anne M Perrault
(918) 494-2690

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