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Views: 24 DOM: 20 Updated: 08.28.24 Posted: 08.27.24 Status: Active

Summary

Price $8,567,000
Built/Renov 2024
Tenant Walgreens
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 10,000
Lease Start 02-01-2025
#Units 13,532
Price/SF $856.70
Expiration 01-31-2040
Tenant Type Pharmacy
NOI $514,000
R. Term 15.4
Ownership Fee Simple
Rent/SF $51.40
Increases 0.0%/0/yrs
Pop 5Mi 260,038
Lot/AC 1.50
Options 7/5yrs
AHHI 5Mi $149,112

Lease Highlights

  • Brand new 2024 construction
  • New 15-year lease with 7 (5-year) options to extend
  • The lease features a 5% rental escalation every 10 years at the start of the second option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of S Val Vista Drive and E Queen Creek Road, with access to a high combined daily traffic count of 53,400 vehicles. The property is 1.5 miles from the award-winning Mercy Gilbert Medical Center and Phoenix Children's Hospital, and close to SanTan Village, which attracts over 8.8 million shoppers annually, as well as...

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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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Listing Broker

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