Listed by Colliers - Bellevue, Washington
$4,610,000
Walgreens Kennewick
Details
APN 135993010522005, 135993090003001
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 14,820
Cap Rate 9.00%
NOI $414,999
Occupancy 100%
Tenancy Single
Brand/Tenant Walgreens
Lease Type Absolute NNN
Price per SqFt $311
Broker Co-Op Yes
Year Built 2006
Buildings 1
Stories 1
Acreage 3.300
Zoning 53 Retail - General Merchandise
Investment Type Stabilized
Ground Lease No
Retail | 9.00% CAP | 14,820 SqFt
Marketing description
Colliers is pleased to present the exclusive offering of 2800 West Clearwater Avenue in Kennewick, WA. The 14,820 SF on a 75,188 SF lot building was built in 2006 for Walgreens. There is 56 years left of a 75 year lease, Walgreens has indicated they intend to stay long term. A NNN Lease Base Rent is $414.999 per year. The lease includes potential for percentage rent if sales exceed a designated threshold.
Masonry construction with brick exterior. The property is zoned Commercial Community, (CC) Retail which is compliant with the use. Current NOI: $258,947, NNN Lease has a percentage rent override of 2.0% of gross sales and 0.5% of food and prescriptions
Listing Contacts
Listed by Colliers - Bellevue, Washington
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$414,999.00
$34,583.25/mo
Valuation Metrics
0
DSCR
9%
Cap Rate
9%
ROI
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