| The Property – Developed in 2009, this 9,800 SF retail building sits on a 33,000 SF lot with 180 feet of frontage along Cross Bay Blvd. |
| The History – The building was developed in 2009 and was immediately occupied by Walgreens on a NNN basis. Following Hurricane Sandy (Oct. 2012) |
| The Guarantee – In 2009, Walgreens signed a 20-year lease with two ten-year options, with the first option coming due in 2029. |
| The Sublet – Walgreens sublet the building to Key Food, currently collecting $515,000 in NNN rent. |
| The Investment Opportunity – Our asking price indicates a 5-year cap rate of 7.0%, backed by a corporate guarantee. |
| The End-User Opportunity – There is a significant opportunity for an end-user to occupy the building upon lease expiration |
DJ Johnston
Matthews Real Estate Investment Services
