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Walgreens 4315 W McDowell Rd 14,995 SF Retail Building Phoenix, AZ 85035 $3,300,000 ($220.07/SF) 6.91% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute Triple-Net (NNN) Lease with 1.5 Years Remaining on Lease Term and Multiple Renewal Options
- Depreciable Fee Simple Property
- Excellent Frontage and Accessibility at the Corner of West McDowell Road and North 43rd Avenue (104,000 Combined Cars per Day)
- 23+ Year Operating History - Tenant has Occupied the Site Since 2002
- Dense Phoenix Infill with 421,917 Residents within a Five-Mile Radius
- Situated Immediately Off Interstate-10, Major Connector for the Phoenix Area w/ Direct Access to Downtown Phoenix & Phoenix Sky Harbor International
EXECUTIVE SUMMARY
Walgreens is an American pharmaceutical company which operates the largest drug retailing chain in the United States of America. As of 2023, the company operates 8,700 stores in all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. The company is headquartered in the Chicago suburb of Deerfield, Illinois.
The Phoenix metro consists of Maricopa and Pinal counties, and includes more than 30 incorporated and more than 30 unincorporated towns and cities. As of 2020, Metro Phoenix had 4.8 million residents, making it the nation’s 11th largest metropolitan area. The largest city is Phoenix, which encompasses about 520 square miles and boasts a population of more than 1.6 million.
The Phoenix metro consists of Maricopa and Pinal counties, and includes more than 30 incorporated and more than 30 unincorporated towns and cities. As of 2020, Metro Phoenix had 4.8 million residents, making it the nation’s 11th largest metropolitan area. The largest city is Phoenix, which encompasses about 520 square miles and boasts a population of more than 1.6 million.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
14,995 SF
Building Class
B
Year Built
2000
Price
$3,300,000
Price Per SF
$220.07
Cap Rate
6.91%
NOI
$228,069
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
1.88 AC
Zoning
C-2, Phoenix - commercial
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $4,329 | Total Assessment | $446,363 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$4,329
Improvements Assessment
$0
Total Assessment
$446,363
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Walgreens | 4315 W McDowell Rd
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