It depends on if you are borrowing any money to purchase the income stream. It if is all your money, you just need to ask yourself if you are comfortable with a 5.75% return on your cash investment.
If you are borrowing cash to acquire it, there are many other variables to consider such as interest rate increases. If interest rates increase, prospective purchasers of your walgreen's property will be evaluating your property against other investments with a better yield.
I think the Walgreen's deal only works if you are using your own money to buy it and you are ok with a 5.75 rate of return. Otherwise, why lock yourself up in a long term situation where your costs will increase and you are stuck at a 5.75 rate of return? Each time your underlying mortgage rate increases, it squeezes your rate of return on the 5.75 cap rate.
I am not even factoring in the time value of money and discounted cash flow analysis. I wouldn't do it unless you are just risk adverse.
Dec 5, 2012