This Retail Property is Off-Market.

6199 Sunrise Blvd
Citrus Heights, CA 95610 ·

14,820 SF · Retail For Sale

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Walgreens

Price N/A Cap Rate 6%
Building Size 14,820 SF Tenancy Single
Property Type Retail Year Built 2007
Property Sub-type Free Standing Bldg Lot Size 2 AC
Property Use Type Net Lease Investment with 10+ years left on lease
Listing ID: 15760725 Date Created: 06/16/2008 Last Updated: 06/08/2009

Description

This offering is leased to Walgreen Co, an S&P A+ Rated company with a 33 consecutive year history of earnings growth and a current market capitalization of $41 Billion. The term of this lease is 75 years, with the option to terminate after Year 25, and every 5 years thereafter. This prototype ±14,820 SF store with Drive-Thru is entirely maintained by tenant, including roof, structure, and parking areas. Walgreens also pays all Real Estate Taxes directly and maintains property and general liability insurance.

This offering is located at the extremely busy intersection of Sunrise Blvd and Greenback Lane in the City of Citrus Heights (adjacent to Sacramento), along with Birdcage Centre (Target Greatland, Lowe' s, Barnes & Noble, Best Buy, Michael' s, Linens N Things, Cost Plus) and Sunrise Mall (Macy' s Women' s, Macy' s Men' s and Home, JC Penney, Sears). The estimated population within 3 miles in 2007 was 135,000 residents, with an average household income of $70,000.

Highlights

  • New Walgreens on Hard Corner at High-Traffic Intersection (98,000 cars per day)
  • 75 Yr NNN Lease (right to terminate after 25 years, every 5 years thereafter)
  • Secure Cash Flow Lessee is Walgreen Co, with $49 B in Sales, and an S&P A+ Rating
  • Passive Ownership Tenant Responsible for Taxes, Insurance, and all R&M
  • Intersection Home to Macy' s, JC Penney, Sears, Lowe' s, Target Greatland, Michaels, Best Buy, Linens N Things

Research

6199 Sunrise Blvd, Citrus Heights, CA 95610 (Sacramento County)

Property Record Data - Historical Listings, current tax, mortgage, owners & tenant info for this property

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