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Walgreens | 8+yrs Corp Abs NNN 404 State Ave 17,780 SF Retail Building Marysville, WA 98270 $3,960,000 ($222.72/SF) 6.25% Cap Rate
Investment Highlights
- Over 8 Years of Firm Term Remaining | Corporate Signed Lease | Well-Known & Established Tenant | Options to Extend
- Signalized, Hard Corner Intersection | Centralized Location | Excellent Visibility & Access
- Subleased Pad | Embedded Residual Value | Low Basis
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Marysville Town Center (172,000 SF) | Dense Retail Corridor | Direct Residential Consumer Base | Nearby Apartment Complexes
- Strong Demographics in 5-Mile Trade Area | Affluent Incomes
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Walgreens investment property located in Marysville, Washington (Seattle MSA). The tenant has approximately 8 years remaining with 11 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease features 10% rental increases at the beginning of every other option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. Founded in 1901, Walgreens proudly serves more than 9 million customers and patients each day across its nearly 8,000 stores throughout the U.S. and Puerto Rico.
Property Facts
Sale Type
Investment NNN
Property Type
Building Size
17,780 SF
Building Class
C
Year Built/Renovated
1963/2013
Price
$3,960,000
Price Per SF
$222.72
Cap Rate
6.25%
NOI
$247,500
Tenancy
Single
Building Height
1 Story
Building FAR
0.37
Lot Size
1.10 AC
Zoning
DC - Downtown Core
Parking
50 Spaces (2.81 Spaces per 1,000 SF Leased)
Amenities
- Corner Lot
- Dedicated Turn Lane
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
Walgreens began in Chicago in 1901, after pharmacist Charles R. Walgreen Sr. purchased the drugstore where a pharmacy career began. The company grew from a neighborhood drugstore into a broad retail health business offering prescription services, health and wellness products, photo services, home delivery, specialty pharmacy, and virtual healthcare. Walgreens serves customers through a wide network of community pharmacies and digital platforms, with a focus on accessible medicine, everyday essentials, and healthcare support.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 005287-008-008-00 | Improvements Assessment | $3,250,500 |
| Land Assessment | $1,203,400 | Total Assessment | $4,453,900 |
Property Taxes
Parcel Number
005287-008-008-00
Land Assessment
$1,203,400
Improvements Assessment
$3,250,500
Total Assessment
$4,453,900
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Walgreens | 8+yrs Corp Abs NNN | 404 State Ave
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