Walgreens #5847
Property Value
$1,850,000
Square Feet
14,500
Year Built
2008
Monthly NOI
$8,750
Occupancy
100%
Lease Type
NNN
Property Details
Property Name
Walgreens #5847
Property Type
Commercial Retail
Year Built
2008
Lot Size
1.2 acres
Leasable Area
14,500 sq ft
Lease Type
NNN
Primary Tenant
Walgreens Co.
Status
active
Location
City
Tampa
State
FL
Market
Tampa Metro
Submarket
Tampa CBD
Interactive map — Tampa, FL
Financial Summary
Property Value
$1,850,000
Monthly NOI
$8,750
Annual NOI
$105,000
Cap Rate
5.7%
Core Lease Terms
Lease Type
NNN
Lease Commencement
Jan 2019
Lease Expiration
Mar 2031
Lease Term
15 years
Remaining Term
8.4 years
Tenant
Walgreens Co.
Financial Terms
Base Rent (Annual)
$120,750
Base Rent (Monthly)
$10,062
Rent per Sq Ft
$8.33
Security Deposit
$17,500
CAM Charges
$43.50/mo
Monthly NOI
$8,750
Renewal Options
Number of Options
3
Option Term
5 years each
Notice Period
180 days
Renewal Rate
Fair Market Value
Right of First Refusal
Yes
Rent Escalations
Escalation Type
Fixed Annual
Annual Increase
2.5%
CPI Cap
4.0%
CPI Floor
1.5%
Year 1-3
2.0%
Year 4-6
2.5%
Year 7-10
3.0%
Year 11+
CPI
Certificate of Insurance (COI)
General liability and property insurance coverage verified for Walgreens Co..
HVAC Certification
Annual HVAC inspection and maintenance certification. Due for renewal within 45 days.
Fire Safety Inspection
Fire alarm systems, sprinkler inspection, and emergency exit compliance verified.
ADA Compliance
Americans with Disabilities Act accessibility requirements met. Last audit completed.
Phase I Environmental
Phase I Environmental Site Assessment. No recognized environmental conditions identified.
Roof Warranty
20-year roof membrane warranty. Inspection required to maintain warranty validity.
Quarterly HVAC Filter Replacement
Scheduled
Replace all HVAC filters (MERV-13) across 4 rooftop units. Includes coil inspection and belt tension check.
Parking Lot Restriping
In Progress
Full parking lot restriping including ADA spaces, fire lanes, and directional arrows. Weather-dependent completion.
Emergency Roof Leak Repair
Completed
Repaired 12 sq ft section of TPO membrane near northwest corner drain. Applied additional sealant to adjacent seams.
Annual Fire Suppression Inspection
Completed
Annual fire sprinkler system inspection and testing. All zones passed. Replaced 2 corroded heads in back storage area.
Exterior LED Lighting Upgrade
Completed
Replaced 24 exterior HID fixtures with LED equivalents. Includes parking lot, building perimeter, and signage lighting.
Walgreens Co. - Executed Lease Agreement.pdf
Certificate of Insurance - Walgreens Co..pdf
Rent Roll - Walgreens #5847.xlsx
Property Appraisal Report - 2008.pdf
Property Photos - Exterior & Interior.zip
Phase I Environmental Site Assessment.pdf
HVAC Maintenance Contract.pdf