2702 N Argonne Rd
Millwood, WA 99212
Walgreens · Retail Property For Sale

Three Property Walgreens Portfolio: The Portfolio is comprised of three free standing buildings leased to Walgreens Pharmacy encompassing nearly 38,000 square feet in Washington and Oklahoma Investment Grade Corporate Guarantee: The leases are guaranteed by Walgreens Pharmacy (NASDAQ: WBA; S&P: BBB), the #1 drug store company in the nation with approximately 8,200 drugstore locations Long Term Leases: Each location includes long-term 75-year absolute NNN leases with an average of over 17 years of firm term remaining Absolute NNN: Absolute NNN leases with zero landlord responsibility. Tenant is responsible for all maintenance including roof & structure Strong Store Sales: Each location reports above average store sales Drive-Thru Locations: Each property features its own drive-thru with excellent ingress and egress Attractive Assumable Interest Only Financing: Attractive 10-year interest only financing at a blended fixed interest rate of 4.76% offering a 6.06% cash-on-cash return Major MSA Locations: The Portfolio is well positioned within the major MSAs of Seattle, Spokane, and Oklahoma City in strong demographic locations with high traffic counts Signalized Intersection Location: Located at the signalized intersection of Trent Avenue and Argonne Road, benefiting from 55,000 cars per day Excellent Visibility and Accessibility: 4 points of ingress and 3 points of egress along Trent Avenue, Argonne Road, and Stout Road Close Proximity to Gonzaga University: The Subject Property is located 6 miles from Gonzaga University, one of the top ten Roman Catholic colleges and universities in the nation, with 7,400 students Spokane MSA Location: Spokane Metropolitan Area has a population of more than 470,000 Strong Demographics: Average household income over $59,000 and a population of more than 131,000 within a 5-mile radius Rapid Growth: 18% increase in population within a 3-mile radius since 2000 Strong Retail Synergy: Surrounding regional/national credit tenants include Aaron' s, Albertsons, Anytime Fitness, Bank of America, Dollar Tree, Dairy Queen, Panda Express, Pizza Hut, Starbucks, Subway, and Yoke' s Fresh Market