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17051 Bear Valley Rd 15,120 SF Retail Building Hesperia, CA 92345 $4,635,000 ($306.55/SF) 7.25% Cap Rate
Investment Highlights
- Walgreens Pharmacy has occupied the site for over 23 years and has just exercised a new 5-year option to extend
- CURRENTLY WALGREEN’S ONLY 24-HOUR STORE IN THIS HIGH-DESERT REGION
- Location is proximate to both residential and commercial uses / IDEAL 1031 EXCHANGE OPPORTUNITY
- Walgreens is one of the world’s most well-known drugstore chains with over 8,500 locations throughout the US
- Located at the corner of Bear Valley Road and Hesperia Road with tremendous visibility and access from both streets
- Net lease structure is ideal for a passive investor looking for stable cash flow with zero landlord maintenance obligations
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
15,120 SF
Building Class
B
Year Built
2002
Price
$4,635,000
Price Per SF
$306.55
Cap Rate
7.25%
NOI
$336,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.31
Lot Size
1.12 AC
Parking
50 Spaces (3.71 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Dedicated Turn Lane
- Pylon Sign
- Drive Thru
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- -
- -
- Triple Net
- Oct 2027
Walgreens began in 1901 on Chicago's South Side, when pharmacist Charles R. Walgreen Sr. opened a neighborhood drugstore that grew into a national chain. Walgreens later combined with Alliance Boots to form Walgreens Boots Alliance, bringing together retail pharmacy, pharmaceutical wholesaling, and healthcare services under one business. Walgreens Boots Alliance operates an integrated healthcare, pharmacy, and retail model spanning U.S. and international operations, with businesses centered on prescription filling, consumer health products, beauty items, and related services.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | - | - | Triple Net | Oct 2027 |
Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 0415-032-30 | Improvements Assessment | $3,723,000 |
| Land Assessment | $969,000 | Total Assessment | $4,692,000 |
Property Taxes
Parcel Number
0415-032-30
Land Assessment
$969,000
Improvements Assessment
$3,723,000
Total Assessment
$4,692,000
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17051 Bear Valley Rd