Listed by SRS Real Estate Partners Newport Beach
$5,381,000
Walgreens
Details
APN 64.11.13.078786
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 14,490
Cap Rate 7.25%
NOI $390,095
Tenancy Single
Brand/Tenant Walgreens
Lease Type Absolute NNN
Lease Expiration 07/01/2034
Remaining Term 8
Lease Options 50 (1-year) option periods
Class A
Year Built 2009
Acreage 1.150
Zoning MX-T Transit Oriented Development Node
Parking Spaces 59 spaces
Parking per 1,000 SqFt 4.07
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 07/01/2009
Ground Lease No
Ownership Fee Simple (Land & Building Ownership)
Retail | 7.25% CAP | 14,490 SqFt
Marketing description
Founded in 1901, Walgreens (www.walgreens.com) proudly serves more than 9 million customers and patients each day across its nearly 8,000 stores throughout the U.S. and Puerto Rico. Walgreens has approximately 211,000 team members, including roughly 85,000 healthcare service providers, and is committed to being the first choice for pharmacy, retail and health services, building trusted relationships that create healthier futures for customers, patients, team members and communities. Sycamore Partners has officially acquired Walgreens Boots Alliance, as of August 28, 2025.
Investment highlights
- Walgreens Corporate signed lease
- 8 years remaining with 50 (1-year) option periods, demonstrating the tenant's commitment to the site
- Tenant pays for CAM, taxes, insurance and maintains all aspects of the premises
- No landlord responsibilities
- Ideal, management-free investment for a passive investor
- The subject property is located directly across from the Crossroads Center, which features tenants including ALDI, OfficeMax, Chick-fil-A, Chipotle, Outback Steakhouse, and many others
- Located approximately 1 mile from Apache Mall, which includes national/credit tenants such as Scheel's, Barnes & Noble, Macy's, JCPenney, Starbucks, Firestone, Red Lobster, and more
- The asset is located in the center of a primary retail corridor with other national/credit tenants including a Walmart Supercenter, Hy-Vee, Ulta, Kohl's, McDonald's, Dave's Hot Chicken, and others
- Strong tenant synergy promotes crossover shopping to the subject property
- More than 101,900 residents and 100,700 employees support the trade area
- $124,706 average household income
Listing Contacts
Listed by SRS Real Estate Partners Newport Beach
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$390,095.00
$32,507.92/mo
Valuation Metrics
0
DSCR
7.25%
Cap Rate
7.25%
ROI
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