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Views: 22 DOM: 25 Updated: 04.21.24 Posted: 04.21.24 Status: Active

Summary

Price $6,616,100
Built/Renov 2010
Tenant Walgreens
Cap Rate 5.60%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,470
Lease Start 11-21-2023
#Units 13,532
Price/SF $457.23
Expiration 11-30-2038
Tenant Type Pharmacy
NOI $370,500
R. Term 14.6
Ownership Fee Simple
Rent/SF $25.60
Increases 5.0%/5/yrs
Pop 5Mi 235,344
Lot/AC 1.37
Options 12/5yrs/5%
AHHI 5Mi $121,849

Lease Highlights

  • Walgreens has 14+ years remaining on the current lease term with 12 (5-year) options to extend
  • The lease features 5% rental escalations throughout the initial term and option periods
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located on San Pablo Avenue, with access to 20,490 vehicles passing by daily. The property is positioned just a few feet from its intersection with El Portal Drive (14,421 VPD) and is 1 mile from Interstate 80 (172,000 VPD). Additionally, it is immediately adjacent to AutoZone Auto Parts, Starbucks, AT&T Store, and Contra Costa Dental. The site is 0.4 miles south of...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Walgreens
  • Guarantor:Corp T and Rated
  • Company:Walgreens Boots Alliance
  • # Units:13,532
  • 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 : 35,231 157,880 235,585
2023 Total Population : 35,090 157,859 235,344
2023 Employed Civilian Pop : 15,848 76,498 118,230
2023 Total Businesses : 690 3,444 5,631
2023 Average Household Income : $ 86,028 $ 104,720 $ 121,849
2023 Total Consumer Spending : $ 774 M $ 4450 M $ 8264 M
2023 Median Age : 34 35 38
2023 Total Households : 10,384 49,318 79,397
2023 Pop Age 25+: Bachelor's Degree : 3,064 20,509 38,161
2023 Average Home Value : $ 617,398 $ 739,844 $ 827,797
*ESRI data is presented for informational purposes only

Listing Broker

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