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Walgreens 14280 San Pablo Ave 14,820 SF Retail Building San Pablo, CA 94806 $5,700,000 ($384.62/SF) 6.50% Cap Rate
Investment Highlights
- Walgreens Co., recently acquired by Sycamore Partners and taken private, has executed a 15-year lease featuring rare 5% rental escalations.
- The lease is structured as absolute NNN, with zero landlord responsibilities, delivering truly passive ownership and predictable cash flow.
- The Walgreens is outparceled to the College Center shopping center, which includes national and regional tenants such as Starbucks,
- The lease offers over ±12.5 years of remaining primary term, along with multiple extension options, providing long-term income visibility.
- Positioned on a hard corner at San Pablo Avenue and Laurie Lane at the primary entrance to the College Center shopping center.
- Walgreens has demonstrated long-term operational resilience through multiple economic cycles, including the COVID-19 pandemic.
Executive Summary
Broker of Record
David Harrington
License # 02168060 (CA)
Matthews Real Estate Investment Services, Inc
2321 Rosecrans Ave., Suite 1225, El Segundo, CA 90245
(866) 889-0550
David Harrington
License # 02168060 (CA)
Matthews Real Estate Investment Services, Inc
2321 Rosecrans Ave., Suite 1225, El Segundo, CA 90245
(866) 889-0550
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,820 SF
Building Class
C
Year Built
2010
Price
$5,700,000
Price Per SF
$384.62
Cap Rate
6.50%
NOI
$370,500
Tenancy
Single
Building Height
1 Story
Building FAR
0.25
Lot Size
1.37 AC
Zoning
SP2 - San Pablo Ave Specific Plan
Parking
53 Spaces (3.58 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Drive Thru
- Car Charging Station
Fairly walkable
50/100
Exceptionally drivable
90/100
Some public transit
40/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 416-160-056-6 | Improvements Assessment | $3,320,406 |
| Land Assessment | $2,040,000 | Total Assessment | $5,360,406 |
Property Taxes
Parcel Number
416-160-056-6
Land Assessment
$2,040,000
Improvements Assessment
$3,320,406
Total Assessment
$5,360,406
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Walgreens | 14280 San Pablo Ave
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