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Views: 86 DOM: 194 Updated: 10.31.24 Posted: 05.13.24 Status: Active

Summary

Price $19,950,000
Built/Renov 2010
Tenant Walgreens
Cap Rate 4.32%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 13,722
Lease Start 03-10-2009
#Units 13,532
Price/SF $1,453.87
Expiration 03-31-2036
Tenant Type Pharmacy
NOI $861,233
R. Term 11.4
Ownership Fee Simple
Rent/SF $62.76
Increases 5.0%/5/yrs
Pop 5Mi 307,704
Lot/AC 1.30
Options 7/5yrs/5%
AHHI 5Mi $119,344

Lease Highlights

  • Walgreens has been operating in this location since 2009
  • The tenant has 11+ years remaining on the current lease term with 7 (5-year) options to extend
  • The lease features 5% rental increases throughout the initial term and option periods
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of Warner Avenue and Bolsa Chica Street, with access to a robust combined daily traffic count of 49,823 vehicles. The property is surrounded by well-known national tenants including Goodyear, CVS Pharmacy, McDonald's, Starbucks, Dairy Queen, and more. The 5-mile trade area is supported by a population of 307,704...

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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 : 22,959 93,196 302,723
2024 Total Population : 23,131 93,819 305,076
2024 Employed Civilian Pop : 12,444 50,244 153,607
2024 Total Businesses : 794 5,429 15,533
2024 Average Household Income : $ 158,277 $ 167,979 $ 150,377
2024 Total Consumer Spending : $ 1363 M $ 5294 M $ 14844 M
2024 Median Age : 45 43 45
2024 Total Households : 10,084 36,927 115,438
2024 Pop Age 25+: Bachelor's Degree : 5,709 21,410 64,544
2024 Average Home Value : $ 1,231,796 $ 1,219,623 $ 1,082,919
*ESRI data is presented for informational purposes only

Listing Broker

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