Walgreens w/Drive-Thru - Long Term NNN Lease
Just Listed: Walgreens | $6.91M | 4.56% Assumable Loan/ 15% inc- 2032 | Yuba City, CA
Marketing description
Faris Lee Investments is pleased to offer a STNL Walgreens with a drive-thru on a triple net lease (fee simple interest) in Yuba City, California. Walgreens is open 24 hours which typically shows their commitment to the site with strong store profitability. Walgreens extended their original lease in 2022 for 35 years with an option to terminate in 15 years in 2037. Walgreens has a 15% rental increase in 2032 which offers an investor strong income growth and an excellent hedge against inflation. Walgreens has been operating at this location since 1970 (55 years), proving the company’s continued commitment to the site.
The subject property sits at the signalized hard corner intersection of Colusa Highway & Gray Avenue which boasts traffic counts north of 62,000 VPD. The site is co-anchored by PetSmart & O’Reillys and sits across from the highly successful regional center – Yuba Sutter Marketplace (with over 4.1 Million annual visitors) as well as a Bank of America branch with over $300M in deposits. The property’s prime location and strong tenant fundamentals make it an exceptional investment opportunity.
Investment highlights
- Walgreens has operated here since 1970, extended lease to 2057, 288K annual visits/ open 24 HR - showcasing strong profitability and stability
- 4.56% fixed-rate assumable loan at 67% LTV, maturing in 2032, offers investors long-term favorable cash flow.
- Lease includes 15% rent increase in 2032 and 10% every 5 years thereafter, ensuring strong income growth and an inflation hedge.
- Prime hard-corner location with 62K+ VPD, co-anchored by national retailers and across from Yuba Sutter Marketplace (4.1M annual visitors).
- Single-tenant NNN lease with full expense reimbursement, offering hassle-free management and ideal for 1031 or passive investors.
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