Historical Retail Sale Listing - Walgreens

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Walgreens

6199 Sunrise Blvd, Citrus Heights, CA 95610

N/A

14,820 SF | Retail

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Retail Property - Off Market

Price:
N/A
Building Size:
14,820 SF
Property Type:
Retail
Property Sub-type:
Free Standing Bldg
Property Use Type:
Net Lease Investment with
10+ years left on lease
Cap Rate:
6%
Tenancy:
Single
Year Built:
2007
Lot Size:
2 AC
Listing ID
15760725
Last Updated
over 1 year ago

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

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.

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

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