NEW PRICE REDUCTION-8% Cap Rate-Walgreens with Sales Growth
NEW PRICE REDUCTION-Walgreens with Sales Growth | $36,405 per month | Long term Absolute NNN Lease
Marketing description
NAI Northern California, as exclusive advisor, is pleased to present for sale a centrally located and busy Walgreens leased property situated at 2589 Jensen Avenue in Sanger, California just outside Fresno, the largest city in California's famous Central Valley. The property is located just 12 miles from the Fresno- Yosemite International Airport and only 3.5 hours by car from Los Angeles International Airport.
The property is a standalone retail building occupied by a Walgreens pharmacy with a longer term absolute NNN lease. This store sits at a signalized hard corner in an established commercial area, with neighbors including a Walmart Supercenter, Dollar Tree, 99-cent Only, O'Reilly Auto Parts, AT&T, T-Mobile, and Subway. This is the only Walgreens store in Sanger and sits at the major signalized retail intersection in town at Jensen and Bethel Avenues with a high traffic count of 25,000 VPD. Walgreens is a unique company with a successful history for more than a century. In recent months, Walgreens has become privately held through its acquisition by Sycamore Partners, a private equity firm.
Investment highlights
- Growing Sales Walgreens with an 18.2% increase in reported store sales between 2020 and 2025
- Ranked in the 91st percentile nationwide, per Placer AI, with 469,000 visits in the past year
- Long lease term remaining with expiration on 8/31/2084, and first termination option on 8/31/2034. Total rental income scheduled from 6/1/2026 until the beginning of the first termination option equals $3,604,194 and recaptures 66% of the Purchase Price.
- The only Walgreens in Sanger and established location (since 2009)
- $36,406 net monthly income guaranteed by Walgreens (now a private company acquired by Sycamore Partners in August 2025)
- Absolute NNN lease with zero landlord responsibilities
- Drive-Thru pharmacy plus a 3,000 SF mezzanine with a separate entrance
- Long Business hours 8 am - 10 pm daily and multiple services offered including FedEx, ATM, Western Union and Alcohol sales
- Large 1.03-acre parcel with ample parking and easy ingress and egress
- Multiple Medical and Educational Services located less than one mile from the subject property
- Main and Main location at one of the busiest signalized intersections in downtown Sanger with approx. 25,000 Vehicles per day
- Strong Retail synergy with a thriving Walmart supercenter and busy shopping center across the street, the EECU Credit Union next door and nearby national retailers including Starbucks, Dollar Tree, O'Reilly's, AT&T, Grocery Outlet and Quest Diagnostics
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