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PROPERTY/LOT
IMMEDIATE LOCATION
AREA LOCATION
TENANT ATTRIBUTES
INVESTMENT/GUARANTOR
DOM: 4 Updated: 01.21.26 Posted: 01.21.26 Status: Active     01.21.26

Summary

Price $4,878,769
Built/Renov 2014
Tenant Walgreens
Cap Rate 6.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 16,419
Lease Start 02-22-2024
#Units 12,500
Price/SF $297.14
Expiration 02-28-2039
Tenant Type Pharmacy
NOI $317,120
R. Term 13.1
Ownership Fee Simple
Rent/SF $19.31
Increases 5.0%/3/yrs
Pop 5Mi 12,713
Lot/AC 4.25
Options 12/5yrs/5%
AHHI 5Mi $46,778

Highlights

  • Walgreens has operated at the property since its original construction in 2014 and recently executed a direct sale-leaseback, securing a new 15-year lease term, demonstrating long-term operating history and commitment
  • The property is leased under an absolute NNN lease with zero landlord responsibilities and fixed 5% rental increases every five years
  • Strong performing location with a very low rent-to-sales ratio, featuring a drive-thru pharmacy for added convenience
  • The property sits on a large 4.25-acre lot, providing strong long-term residual value
  • Walgreens is the only freestanding pharmacy within a 75-mile radius, serving as the primary pharmacy destination for the region
  • Corporately guaranteed by Walgreens, a nationally recognized, investment-grade tenant

Location Description

*]:pointer-events-auto scroll-mt-[calc(var(--header-height)+min(200px,max(70px,20svh)))]" data-scroll-anchor="true" data-testid="conversation-turn-24" data-turn="assistant" data-turn-id="request-WEB:75c43d54-afe3-488a-b28c-2ee5d119e750-11" dir="auto" tabindex="-1"> Walgreens is strategically located on E Santa Fe Avenue, offering strong visibility and convenient access...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Walgreens is an American company that operates the second-largest pharmacy store chain in the United States. It specializes in filling prescriptions, health and wellness products, health...


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