6144 Dewey Drive
WALGREENS ON A DOMINANT SIGNALIZED CORNER IN THE BOOMING SACRAMENTO MSA
Marketing description
Voit real estate services’ retail properties group, as exclusive advisor, is pleased to present the opportunity to acquire the fee simple interest in a freestanding, nn-leased walgreens located at a prime, signalized intersection in citrus heights, california. Situated on a large, high-visibility parcel within the sacramento msa, the property is leased to walgreens (s&p: bb-), one of the nation’s most established retail brands. Walgreens continues to demonstrate strong credit fundamentals, operating a national footprint of over 8,000 locations. The tenant has occupied this location since 2000 and recently extended its lease for an additional 10 years—signaling long-term operational stability and commitment to the site. With 24-hour operation, the store’s drive-thru has been recently reconfigured to include convenience sales alongside its pharmacy services, streamlining customer access.
This offering represents a compelling opportunity to acquire a well-located, income-producing asset backed by a nationally recognized tenant, with minimal landlord obligations and strong underlying real estate value. The property is ideally suited for investors seeking durable cash flow and long-term security in a dense, supply-constrained, and growing northern california market.
Investment highlights
- Irreplaceable “Main & main” Location: Situated on a massive 1.89-acre hard-corner lot at the intersection of Dewey Drive and Greenback Lane, the property commands exposure to a staggering 104,000+ vehicles per day. Its position is dominant and its visibility is unparalleled.
- Corporate Tenant: Secure your portfolio with a lease backed by Walgreens, and the second-largest pharmacy chain in the United States. As an essential retailer, Walgreens offers a recession- and e-commerce-resistant investment profile.
- Durable, Passive Income Stream: The corporate-guaranteed NN lease features 5 years of remaining term, providing a predictable and stable income stream. The lease structure minimizes landlord responsibilities to primarily the roof and structure, making it an ideal investment for passive owners.
- Proven Performance & Limited Competition: This store boasts a long, successful operating history since 2000. The location faces minimal immediate competition, solidifying its market share and customer loyalty.
- Enhanced Customer Access & Convenience: With 24-hour operation, the store’s drive-thru has been recently reconfigured to include convenience sales alongside its pharmacy services, streamlining customer access.
- Booming Market Dynamics: The Sacramento MSA is a hotbed of economic and population growth. This property is perfectly positioned to benefit from the region’s expansion, driven by a thriving job market and an influx of new residents.
- Dense, Stable Demographics: The surrounding community of Citrus Heights provides a dense and stable customer base with a population of over 87,000 and an average household income of approximately $96,500.
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