Lee & Associates is excited to present a rare investment opportunity: a Walgreens-occupied property at 3805 80th Street in Kenosha, Wisconsin. This asset offers exceptional stability, being 100% leased with a corporate guarantee from Walgreens (NASDAQ: WBA), a global leader in pharmacy retail.
Walgreens has a deep commitment to this site, operating successfully here for over 30 years since 1995. They recently underscored this commitment by executing an early lease extension in October 2024, ensuring more than 13 years of guaranteed income remain on the lease. Financial performance is strong, with 2024 sales reported at over $5.3 million and a remarkably low rent-to-sales ratio of just 5.8%. This strong performance, coupled with Walgreens' ongoing investment in the location and low occupancy costs, highlights the asset's robust fundamentals and the tenant's durability, minimizing future vacancy concerns.
Strategically positioned as an end cap at a signalized hard corner within the Greenwood Shopping Center, a grocery-anchored hub, the property enjoys high visibility with exposure to 19,000 vehicles daily. Its surroundings include prominent national co-tenants like Chase Bank, Dollar Tree, Subway, and Burger King, plus seamless connectivity to I-94, Highway 50, and local roads, ensuring high traffic and accessibility. Kenosha's strategic location between Milwaukee and Chicago, combined with its expanding job market and demand for essential retail, makes this a resilient and attractive investment.