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Views: 181 DOM: 128 Updated: 12.20.24 Posted: 08.14.24 Status: Sold 12.20.24

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 5.11
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

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
2029 Total Population : 21,543 56,650 77,577
2024 Total Population : 21,635 55,754 76,413
2024 Employed Civilian Pop : 7,311 20,819 27,900
2024 Total Businesses : 902 1,894 2,255
2024 Average Household Income : $ 63,659 $ 88,531 $ 91,398
2024 Total Consumer Spending : $ 420 M $ 1386 M $ 1906 M
2024 Median Age : 36 36 35
2024 Total Households : 7,403 17,733 23,611
2024 Pop Age 25+: Bachelor's Degree : 1,476 4,788 6,797
2024 Average Home Value : $ 278,257 $ 334,029 $ 334,741
*ESRI data is presented for informational purposes only

Listing Broker

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