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24964178
24964179

305 Lemmon Dr, Reno, NV 89506

DH
CO701910000, CA 01320460
Matthews
Listed by Matthews
$4,300,000
317 days on market
Updated 22 days ago

WALGREENS

Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 14,820
Cap Rate 10%
NOI $429,996
Occupancy 100%
Tenancy Single
Brand/Tenant Walgreens
Lease Type Absolute NNN
Remaining Term 8.5
Year Built 2009
Investment Type Net Lease

Retail | 10.00% CAP | HIGH TRAFFIC COUNTS & HARD CORNER

Investment highlights

HIGH TRAFFIC COUNTS & HARD CORNER: Strategically situated on the corner of Lemmon Dr. & Vista Pkwy, which benefits from a combined ±35,000 cars passing per day. Surrounding national tenants include Walmart, Smith’s, Grocery Outlet, Raley’s, O’Reilly Auto Parts, Jack in the Box, Starbucks, Bank of America, in addition to numerous new development retail.

ZERO LANDLORD OBLIGATIONS: This investment is an Absolute NNN lease which allows hands-off ownership.

NEW DEVELOPMENTS NEARBY: Approximately ±4,000,000 SF of industrial developments within a 5-Mile radius of the property since 2014. National brands include Amazon Fulfillment Center, Chewy Fulfillment center, JCPenney Logistics Center, Petco Distribution Center, and more.

LONG TERM OPERATING HISTORY: This Walgreens was constructed in 2009 and has been in operation for over 15 years.

INCOME TAX FREE STATE: Nevada has one of the nation’s most attractive tax climates, being one of only nine states nationwide with no state income tax.

Listing Contacts

DH
CO701910000, CA 01320460
Matthews
Listed by Matthews

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$429,996.00
$35,833.00/mo

Valuation Metrics

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DSCR
10%
Cap Rate
10%
ROI

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Additional Information

Name
david harrington
License
B.1003120.CORP (NV)
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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