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Analyze more property details including ownership and financial history. Share advanced property insights with your clients and teams.
29791372
29791371

9200 Elk Grove Florin Rd, Elk Grove, CA 95624

BA
CA 01318078, NV COOP.0000245-AUTH
Hanley Investment Group
SK
CA 00603943
Listed by Hanley Investment Group
$4,677,750
114 days on market
Updated 16 days ago

Walgreens | Elk Grove, CA

Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 14,480
Net Rentable (SqFt) 14,480
Cap Rate 8%
NOI $374,220
Occupancy 100%
Tenancy Single
Brand/Tenant Walgreens
Lease Type Absolute NNN
Lease Term 25
Lease Expiration 10/31/2030
Remaining Term 4.4
Rent Bumps No
Lease Options Ten 5-Year Options
Price per SqFt $323
Broker Co-Op Yes
Year Built 2006
Buildings 1
Stories 1
Acreage 1.450
Lease Commencement 11/01/2005
Ground Lease No

Absolute NNN lease; zero landlord responsibilities | 4.5 years remaining on the initial term

Investment highlights

  • Single-Tenant Walgreens (NASDAQ: WBA);

    • Absolute NNN lease; zero landlord responsibilities

    • 5.5+ years remaining on the initial term

    • Long-term operating history at the property (21+ years)

    • Prototype store format with drive-thru

    • Largest daily needs retail pharmacy provider in the United States with nearly 8,000 locations

    • #26 “Fortune 500” – Fortune (2024)

  • High-Traffic, Hard-Corner Signalized Intersection: The property is located at the hard corner, signalized intersection at of Bond Avenue and Elk Grove Florin Road (55,000 CPD)

  • Dense, Affluent Sacramento Suburb:

    • Average household incomes of over $138,000 within a 1-mile radius; 283,000 people within a 5-mile radius

    • Significant Daytime Population; 230,000+ People within a 5-Mile Radius

  • Elk Grove is One of Sacramento’s Most Desirable Communities:

    • Elk Grove has emerged as highly desirable to both businesses and residents; the city is just 15 miles south of Sacramento and within close proximity to two major freeways, the Sacramento International Airport, rail lines, and two ports

    • Notable employers in the area include Apple, Kaiser Permanente, and Frontier Communications

Listing Contacts

BA
CA 01318078, NV COOP.0000245-AUTH
Hanley Investment Group
SK
CA 00603943
Listed by Hanley Investment Group

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$374,220.00
$31,185.00/mo

Valuation Metrics

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DSCR
8%
Cap Rate
8%
ROI

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