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Views: 20 DOM: 33 Updated: 09.13.24 Posted: 08.14.24 Status: Active

Summary

Price $4,126,000
Built/Renov 2002
Tenant Walgreens
Cap Rate 8.75%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,356
Lease Start 11-15-2002
#Units 13,532
Price/SF $304.82
Expiration 11-30-2030
Tenant Type Pharmacy
NOI $361,000
R. Term 6.2
Ownership Fee Simple
Rent/SF $25.15
Increases 0.0%/0/yrs
Pop 5Mi 74,620
Lot/AC 1.19
Options 10/5yrs
AHHI 5Mi $79,471

Lease Highlights

  • Walgreens has been operating in this location since 2002
  • The tenant has 6+ years remaining on the current lease term with 10 (5-year) options to extend
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of N Imperial Avenue and Main Street, with access to a combined daily traffic count of 35,400 vehicles. The property is situated in Downtown El Centro, close to well-known national tenants such as Starbucks, Grocery Outlet, McDonald's, Bank of America, and more. Additionally, it is situated 4 miles from Imperial...

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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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Listing Broker

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