Listed by Hanley Investment Group
$5,565,000
Walgreens | Big Bear Lake, CA
Details
Property Type Retail
Sub Type Pharmacy/Drug, Storefront
Square Footage 12,581
Net Rentable (SqFt) 12,581
Cap Rate 5.75%
NOI $320,000
Occupancy 100%
Tenancy Single
Brand/Tenant Walgreens
Lease Type NNN
Lease Expiration 02/01/2032
Rent Bumps No
Lease Options Ten 5-Year Options
Year Built 2007
Acreage 1.540
Lease Commencement 02/02/2007
Ground Lease No
Trophy Big Bear Lake Location | 7,000,000 Annual Visitors | Absolute NNN Lease
Marketing description
CLICK HERE FOR FULL OFFERING MEMORANDUM: https://hanleyinvestmentgroup.com/listings/?id=a0EPg000009H29t&track=TCuRmAjBwRGhMjaJdjUDOsdem
Investment highlights
- Trophy Big Bear Lake Location: Located at the signalized intersection of Big Bear Boulevard (29,441 CPD) and Moonridge Road (4,565 CPD), Big Bear Lake’s most heavily trafficked intersection; four points of ingress/egress; drive-thru lane
- Limited Competition/High Barriers to Entry for National Credit Retailers: Extremely rigorous entitlement process and limited supply of commercially zoned properties
- Irreplaceable Destination Real Estate: Located less than 1 mile from Big Bear Lake, Snow Summit Ski Resort, and Bear Mountain Ski Resort, with annual visitors estimated at ~7,000,000 per year, making it one of Southern California’s most popular four-season destinations
- Top Performing Location: Walgreens store sales consistently rank at the top of the chain (lease inquire with the broker for more information)
- Established, Proven Location: Walgreens has successfully operated at this location for over 20 years with 5 years remaining and multiple options
- Upgraded, Unique Mountain-Themed Construction; Pride of Ownership Asset
- First Time Being Offered For Sale Since Development
- Affluent Southern California Demographics with Average Household Incomes of $132,000
- The 3-Mile Consumer Spending Across All Industries is $118,977,755
- Walgreens is the Largest Daily-Needs Retail Pharmacy Provider in the United States with Nearly 8,000 Locations
- Absolute NNN Lease with No Landlord Responsibilities
Listing Contacts
Listed by Hanley Investment Group
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$320,000.00
$26,666.67/mo
Valuation Metrics
0
DSCR
5.75%
Cap Rate
5.75%
ROI
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Is there information that looks off?
