The Morgan Companies is pleased to offer for sale an absolute NNN-leased parking lot (the “Property”), located in Plantation, FL. The Property is currently leased by Walgreen Co. (“Walgreens”), which operates an adjacent store. There are currently 12 years of lease term remaining, after which Walgreens may renew on a year-to-year basis.
The Property is strategically situated at the signalized intersection of South State Road 7 and Davie Boulevard, which see a combined traffic count of over 64,000 vehicles per day.
The Property presents a unique investment opportunity for those seeking to collect income from an investment grade tenant with zero landlord responsibilities.
- Absolute NNN Lease with 12+ Years of Initial Term: The offering constitutes a passive long-term investment with zero landlord responsibilities. The lease runs through October 31, 2032, after which Walgreens can renew on a year-to-year basis.
- Strong Investment Grade Tenant: Walgreens is one of the largest drug store chains in America, with over 9,277 stores in 50 states, the District of Columbia, Puerto Rico, and the US Virgin Islands. Walgreens properties are considered highly valued due to the low risk of the stable drug store market.
- Located at a Signalized Intersection in Dense Residential Area: The Property and the adjacent Walgreens store are ideally located at a signalized intersection in the dense residential area of Plantation. The Property has easy access to both Interstate 95 to the east and Interstate 595 to the south.