Walgreens 10405 N La Canada Dr 14,766 SF Retail Building Tucson, AZ 85737 $4,650,888 ($314.97/SF) 6% Cap Rate

10405 N. La Cañada Drive presents a compelling net lease investment opportunity in Oro Valley, Arizona, one of the safest and most established retirement communities in the Western United States. The property is secured by a long-term absolute NNN lease with Walgreens, providing passive income with no landlord responsibilities and built-in rental growth. Strategically positioned along a dominant retail corridor near a major signalized intersection, the site benefits from high-income demographics, strong national tenancy in the surrounding area, and proximity to country clubs and luxury resorts. With a drive-thru-equipped format, rare 5% rent increases every five years, and long-term renewal options, the offering is well suited for investors seeking durable cash flow, capital preservation, and a defensive 1031 exchange opportunity.

Location Summary:

Located in Oro Valley, an affluent suburban community within the Tucson, Arizona metropolitan area, the property is positioned along North La Cañada Drive, a primary retail corridor serving the northwest Tucson region. The site benefits from strong visibility, access, and proximity to a major signalized intersection, surrounded by national retailers and daily-needs services. Oro Valley’s reputation for safety, high household incomes, and limited commercial infill supports long-term retail demand and durable real estate fundamentals.

The greater Tucson market provides regional connectivity and access to employment centers, healthcare institutions, and lifestyle amenities, while Oro Valley offers a distinct, upscale residential base anchored by master-planned communities, country clubs, and luxury resorts. This combination of metropolitan accessibility and submarket affluence creates a stable consumer base and reinforces the location’s longterm relevance for essential retail uses within a high-barrier desert market.