Walgreens Net-Leased Investment

Retail-Commercial for Sale
Catylist Listing ID: 30163377
Property Subtypes: Free-Standing Building, Retail-Pad
Building Size (RSF): 13,975 SF
Gross Building Area: See Agent
Gross Land Area: 1.24 SF
Sale Price: $3,900,000
Unit Price: $279.07 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Walgreens
Sale Terms: Cash to Seller
Cap Rate: 5.73%
Average Occupancy Rate: 100
Last Updated: 11/16/2017

Overview / Comments

• Long-term early lease extension
• 11.5+ years of lease term remaining through May 31, 2029, with five 5-year renewal options
• Strong store sales (inquire with broker)
• Long operating history at property - Walgreens has operated at this location since 1994
• New roof and parking lot in 2017
• Strategically located at the intersection of Wyoming Blvd and Harper Rd with over 52,200 cars per day
• Neighboring tenants include McDonald's, Sports and Wellness, Circle K, Subway, and Albertsons among others
• Exceptional, dense in-fill demographics
• Limited competition - Nearest CVS is 3.8 miles away; Nearest Walgreens is 2.1 miles away

Attachments & Media

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: Far Northeast
Tax ID/APN: ABQ33867
Property Visibility: Excellent
Traffic/Vehicle Count: 522,000
Tenancy: Single Tenant
Total Number of Buildings: 1
Number of Stories: 1
Parking Type: Surface

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 17,523 121,667 241,972
Median Age: 45.31 40.69 41.21
Households: 7,813 53,576 107,503


Photograph of Listing Agent

Cole Flanagan

NAI Maestas & Ward CARNM CIE Member
Photograph of Listing Agent

Jake Mechenbier

NAI Maestas & Ward CARNM CIE Member
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