Listed by CP Partners
$7,945,000
Walgreens (Subleased)
Details
Property Type Retail
Sub Type Pharmacy/Drug, Storefront
Square Footage 14,852
Net Rentable (SqFt) 14,852
Cap Rate 7.78%
NOI $619,476
Brand/Tenant Walgreens
Lease Type NNN
Lease Expiration 08/20/2087
Remaining Term 61.3
Lease Options None
Year Built 2012
Acreage 1.250
Ground Lease No
Subleased to Local Furniture Retailer in Central Silicon Valley
Marketing description
The subject property features 2012 construction with drive-thru and 117 parking spaces, far exceeding typical downtown standards and ideal for high-traffic zones. Located at a high-visibility, signalized intersection with approximately 26,000 vehicles per day on Almaden Expressway and 7,500 VPD on Foxworthy Avenue.
Investment highlights
- Exceptional Bay Area Yield: highly attractive return profile for Silicon Valley real estate
- Corporate Tenant: backed by a corporate master lease with Walgreens running through August 2037
- Secured & Active Cash Flow: additional layer of security from an operating business with an under-market sublease
- CapEx Protection: Under the terms of the sublease, the tenant assumes direct responsibility for all repairs and maintenance, including the roof and HVAC systems, shielding the landlord from major capital expenditures.
- De-Risked Corporate Cash Flow vis a vis Subtenancy: This asset successfully navigated Walgreens’ recent portfolio restructuring. After vacating the space last year, Walgreens opted to execute a sublease significantly reducing occupancy costs.
- Irreplaceable Location: Strategically positioned in San Jose, one of the most supply-constrained and highly sought-after commercial real estate markets in the United States
- Drive-Thru Entitlement & Future Optionality: The building features an existing drive-thru lane, preserving immense future value for quick service restaurant (QSR), medical, or specialized retail redevelopment
- Elite Traffic & Demographics: Prominently situated at the intersection of Almaden Expressway and Foxworthy Avenue (~78,000 combined VPD), surrounded by an affluent consumer base with an average household income of $214,556 within a 1-mile radius
Listing Contacts
Listed by CP Partners
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$619,476.00
$51,623.00/mo
Valuation Metrics
0
DSCR
7.8%
Cap Rate
7.8%
ROI
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