Walgreens - Sparks, NV
Retail | 7.22% CAP | 14,550 SqFt
Marketing description
Introducing a lucrative NNN leased investment opportunity at Walgreens on 2299 Oddie Blvd, Sparks, NV 89431. This prime property boasts a 7.22% cap rate and a $375,000 NOI with over 8 years remaining on the initial 25-year lease term. Plus, the lease offers ten five-year extension options, making it an attractive long-term investment. Strategically located at the bustling intersection of Oddie Boulevard and El Rancho Drive, this property enjoys high visibility with approximately 39,000 vehicles passing by daily. Surrounded by a mix of residential and commercial developments, including the Parq Crossing and a forthcoming multi-family project, it stands as a cornerstone of a thriving community. Additionally, the area's $52 million Oddie/Wells Improvement Project is set to bring 1,500 new residential units, promising further growth and opportunities for investors. Don't miss out on this turnkey investment opportunity in the vibrant Reno/Sparks market. Contact us today to seize the potential of owning a Walgreens-tenanted property with a secure NNN lease.
Investment highlights
Property Highlights
Walgreens Absolute NNN Leased Investment
Zero Landlord Responsibilities
Over 8 Years Remaining on Initial Term
Five, 10 Year Options to Extend (August 1, 2078)
Long Term Occupancy Since 2009
10% Rent Increase, August 2028 ($412,500.00 annually)
Corporate Guaranty
Drive-Thru
Positioned on Hard Corner Signalized Intersection (39,000 CPD)
Strong Visibility
Tax Free Income State
Excellent Demographics
Positioned with Little Competition Servicing the Neighborhood
Approximately 2 Miles to Renown Regional Medical Ctr.
Approximately 3 Miles to St. Mary's Regional Med. Ctr.
4.5 Miles from Reno-Tahoe International Airport
Growing Area with Solid Economic Factors
Sparks Offers a Fantastic Quality of Life
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