Investment Offering
Jackson, MS - Walgreens
310 Meadowbrook Rd | Jackson, MS 39206
$5,857,000
Price7%
Cap Rate$410,000
NOI14,550
± SF Offering GLADescription
SRS Real Estate, LLC and SRS Real Estate Partners, LLC are pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, corporate signed, Walgreens investment property located in Jackson, Mississippi. The tenant, Walgreens Co (NASDAQ: WBA), has over 11 years remaining on their current lease with 10 (5-year) options to extend, demonstrating their commitment to the site. The lease is signed by the corporate entity and is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. Founded in 1901, Walgreens is among America’s largest pharmacies and health & beauty companies with nearly 9,000 stores in operation.
Location
Walgreens is strategically situated near the major signalized intersection of Meadowbrook Road and U.S. Highway 51, with an average of 25,000 vehicles passing by daily. The building is equipped with a drive-thru, offering ease and convenience for customers. On average, stores with drive-thrus experience higher sales than those without. The property benefits from excellent visibility and access via significant street frontage, multiple points of ingress/egress, and a large pylon sign. Located in a dense retail corridor, the investment is in close proximity to Highland Village, a highly trafficked shopping center that serves over 2.4 million visitors per year (per Placer. ai). Tenants in the center include Whole Foods Market, Lululemon, Omega, and Vineyard Vines. Other nearby national/credit tenants include Kroger, Office Depot, Petco, Starbucks, Wendy’s, and more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure for the site. The 5-mile trade area is supported by a population of over 99,000 residents and 142,000 daytime employees, with an average household income of $62,712.
Documents & Links
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 Offering Memorandum |  |  |