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Walgreens | New 15yr Corp Abs NNN 3434 W Southern Ave

14,821 SF Retail Building Phoenix, AZ 85041 $7,633,031 CAD ($515 CAD/SF) 6% Cap Rate

Investment Highlights

  • Brand New 15-Year Lease | Corporate Guaranteed |Strong Operator
  • Signalized, Hard Corner Intersection | Dense Retail Corridor
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Strong Demographics In 5-mile Trade Area

Executive Summary

SRS Real Estate Partners-West, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, corporate guaranteed (NASDAQ: WBA), Walgreens investment property located in Phoenix, Arizona. The tenant, Walgreen Co., recently signed a brand new 15 year lease with 12 (5-year) options to extend, demonstrating their commitment to the site. The lease features 5% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. Founded in 1901, and representing one of the largest pharmacies in America with over 9,000 retail locations, Walgreens is a pharmaceutical and health destination serving nearly 10 million customers each day. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,821 SF
Building Class
C
Year Built
2007
Price
$7,633,031 CAD
Price Per SF
$515 CAD
Cap Rate
6%
NOI
$457,982 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Land Acres
1.54 AC
Zoning
C-1 - Neighborhood Commercial
Parking
3.98 Spaces per 1,000 SF Leased

Amenities

  • Corner Lot
  • Signage
  • Signalized Intersection

MAJOR TENANTS Click Here to Access

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease Type
  • Lease End
  • Retailer
  • 99,999 SF
  • -
  • Lorem Ipsum
  • Jan 0000

At Dollar Tree, their customers can expect to find an environment where shopping is fun. They're known for their “thrill-of-the-hunt” shopping experience where customers can discover new, exciting items every week, from everyday essentials to fun craft, seasonal, and party merchandise. Many of the items they carry sell for more elsewhere, which means that their customers can stretch their dollars to get the products they need at an extreme value. They remain fiercely committed to their mission of bringing their customers extreme value every day, along with more thrills, more fun & new items every week! Dollar Tree carries a broad, exciting mix of consumable, variety, and seasonal merchandise that includes many trusted national and regional brands. In the midst of massive growth, Dollar Tree remains committed to their original mission: giving customers extreme value at low prices. With stores in the U.S. and Canada, they are fulfilling that mission more now than ever before.

Tenant Industry SF OCCUPIED RENT/SF Lease Type Lease End
Retailer 99,999 SF - Lorem Ipsum Jan 0000

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
105-68-530
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$618,044 CAD
  • Listing ID: 30745106

  • Date on Market: 2024-01-23

  • Last Updated:

  • Address: 3434 W Southern Ave, Phoenix, AZ 85041

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