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Walgreens 5829 Lakewood Blvd 14,418 SF Retail Building Lakewood, CA 90712 $7,566,667 ($524.81/SF) 6% Cap Rate
INVESTMENT HIGHLIGHTS
- Long-Term Absolute NNN Lease – Recent Lease Extension 13 years of term remaining on an absolute NNN lease, with no Landlord maintenance or expense res
- High-Traffic Location Located in a highly trafficked retail corridor at the signalized, hard-corner intersection of Lakewood Boulevard and South Stre
- Walgreens Corporate Guarantee – Excellent Store Sales Walgreens (S&P rating of BB-) reported $147 billion in revenue for 2024 and $81 billion in Asse
EXECUTIVE SUMMARY
13 years of term remaining on an absolute NNN lease, with no Landlord maintenance or expense responsibilities
Tenant extended the base term of the Lease in June 2023 adding an additional 10 years to the original term, evidence of Walgreens long-term commitment to this location
Walgreens Corporate Guarantee – Excellent Store Sales
Walgreens (S&P rating of BB-) reported $147 billion in revenue for 2024 and $81 billion in Assets.
High performance location – strong historical Store sales (contact Broker for details)
High-Traffic Location
Located in a highly trafficked retail corridor at the signalized, hard-corner intersection of Lakewood Boulevard and South Street
Combined traffic count at the intersection of Lakewood Blvd and South Street is 58,198 vehicles per day
Strong Demographics | Affluent Trade Area
258,123 residents within a 3-mile radius
Average household income is approximately $128,744 within 1 mile
Strong Retail Synergy
Walgreens is less than ½ mile east of a Walmart Supercenter and a WinCo Foods which ranks in the top 25% of all WinCo locations nationwide in visits according to Placer.ai
Less than 1 mile north of Lakewood Center, a regional shopping mall with over 2 million square feet of retail space, anchored by Costco, Forever 21, JCPenney, Macy’s and Target
PROPERTY FACTS
AMENITIES
- Car Charging Station
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
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- Retailer
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Walgreens, founded by Charles Rudolph Walgreen in 1901 in Chicago, is a major U.S. pharmacy and retail chain operating under the publicly traded parent, Walgreens Boots Alliance (NASDAQ: WBA). Headquartered in Deerfield, Illinois, it provides prescription services, health and wellness products, photo services, and expanded healthcare offerings including immunizations and diagnostic screenings. As of late 2025, the company operated thousands of retail locations across the United States and Puerto Rico, serving roughly 78% of Americans within five miles of a store. Walgreens maintains omnichannel operations—blending in-store, online, drive-thru, and home delivery services—and has strategic healthcare partnerships, notably with VillageMD. Under the direction of new CEO Mike Motz, following the August 2025 purchase by Sycamore Partners, Walgreens continues to emphasize core pharmacy execution, digital innovation, and integrated care solutions.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
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Retailer | - | - | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 7160-019-049 | Improvements Assessment | $1,368,670 |
| Land Assessment | $2,158,020 | Total Assessment | $3,526,690 |
PROPERTY TAXES
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Walgreens | 5829 Lakewood Blvd
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