Walgreens

4315 West McDowell Road, Phoenix, AZ 85035

$3,508,000

Cap Rate 6.50%

Views: 23 DOM: 82 Updated: 04.22.24 Posted: 02.25.24 Status: Active

Summary

Price $3,508,000	Built/Renov 2000	Tenant Walgreens
Cap Rate 6.50%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 14,995	Lease Start 07-30-2002	#Units 8,896
Price/SF $233.94	Expiration 07-31-2027	Tenant Type Pharmacy
NOI $228,069	R. Term 3.2	Ownership Fee Simple
Rent/SF $15.21	Increases 0.0%/0/yrs	Pop 5Mi 408,096
Lot/AC 1.88	Options 10/5yrs	AHHI 5Mi $57,414

Lease Highlights

Walgreens has been operating in this location since 2002
The tenant has 3+ years remaining on the current lease term with 10 (5-year) options to extend
Absolute NNN | Zero landlord responsibilities
Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of West McDowell Road and North 43rd Avenue, with access to a substantial combined daily traffic count of 104,200 vehicles. Furthermore, the site is in close proximity to Highway 17, which sees an additional 288,600 VPD. Conveniently situated immediately off Interstate-10, the property serves as a major connector...

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Key Features

Signalized intersection
In location for years
High traffic 50M+ VPD
Freeway close
Dense 200M+ pop 5 mi
Top 100 MSA
Long operation history
Absolute NNN
Traded and rated company
Investment grade tenant

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Links

Walgreens Wikipedia Walgreens Wikipedia Phoenix, Arizona Zip Code 85035 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Walgreens
Guarantor:Corp T and Rated
Company:Walgreens Boots Alliance
# Units:8,896
Tenant S&P: BBB-
Moody’s: Baa2
Stock: NASDAQ: WBA

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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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	24,517	133,228	417,035
2023 Total Population :	25,063	134,911	409,501
2023 Employed Civilian Pop :	9,619	55,738	172,792
2023 Total Businesses :	340	3,961	12,276
2023 Average Household Income :	$ 57,829	$ 65,950	$ 71,446
2023 Total Consumer Spending :	$ 404 M	$ 2265 M	$ 8113 M
2023 Median Age :	28	27	29
2023 Total Households :	7,837	38,558	128,120
2023 Pop Age 25+: Bachelor's Degree :	574	3,943	25,342
2023 Average Home Value :	$ 290,202	$ 272,965	$ 312,569

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
N 43rd Ave	W Brill St	2015	39,919	0.09 mi
West McDowell Road	N 45th Ave	2018	26,730	0.10 mi
North 43rd Avenue	W Willetta St	2019	35,919	0.11 mi
	N 43rd Ave	2022	12,691	0.20 mi
N 43rd Ave	I- 10	2015	47,708	0.23 mi
	N 43rd Ave	2022	9,488	0.24 mi
North 43rd Avenue	I- 10	2018	55,690	0.25 mi
	N 43rd Ave	2022	19,892	0.28 mi
	N 43rd Ave	2022	10,473	0.31 mi
W McDowell Rd	N 47th Ave	2015	26,602	0.38 mi

Listing Broker

Chris Lind

Marcus & Millichap: NLAG

Contact

162 Listings
6469 Views
73 Sold

Mark Ruble

Marcus & Millichap: NLAG

Contact

163 Listings
6537 Views
74 Sold

Chris Lind

Chris Lind specializes in advising the Net Lease Advisory Group’s clients in the acquisition and disposition of net-leased investment properties nationally. Chris is solely committed to single-tenant and multi-tenant net leased assets as well as structuring sale/leasebacks and portfolio sales throughout the United States. Chris has been with Marcus & Millichap since 2007 and his experience includes selling hundreds of properties located throughout the country. Chris prides himself on act

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Mark Ruble

Mark Ruble is the co-founder of the Net Lease Advisory Group and a top producing Agent with Marcus & Millichap. Mark has been with Marcus & Millichap for 19 years (2004) and has received numerous accolades for his superior service and outstanding performance. Mark has successfully closed over 1,840 properties totaling in excess of $5.7 Billion in transaction volume across 46 states. The key to Mark’s success has been his dedication to providing clients with market leading information an

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