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Investment Highlights

  • Irreplaceable "Main & Main" Location
  • Durable, Passive Income Stream
  • Enhanced Customer Access & Convenience With Drive Thru
  • Corporate Tenant
  • Proven Performance & Limited Competition
  • 104,000+ Average Cars Per Day

Executive Summary

Voit Real Estate Services’ Retail Properties Group, as exclusive advisor, is pleased to present the opportunity to acquire the fee simple interest in a freestanding, NN-leased Walgreens located at a prime, signalized intersection in Citrus Heights, California. Situated on a large, high-visibility parcel within the Sacramento MSA, the property is leased to Walgreens (S&P: BB-), one of the nation’s most established retail brands. Walgreens continues to demonstrate strong credit fundamentals, operating a national footprint of over 8,000 locations. The tenant has occupied this location since 2000 and recently extended its lease for an additional 10 years—signaling long-term operational stability and commitment to the site. With 24-hour operation, the store’s drive-thru has been recently reconfigured to include convenience sales alongside its pharmacy services, streamlining customer access.
This offering represents a compelling opportunity to acquire a well-located, income-producing asset backed by a nationally recognized tenant, with minimal landlord obligations and strong underlying real estate value. The property is ideally suited for investors seeking durable cash flow and long-term security in a dense, supply-constrained, and growing Northern California market.

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
15,908 SF
Building Class
B
Year Built
2000
Price
$7,500,000
Price Per SF
$471.46
Cap Rate
6.27%
NOI
$469,950
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Lot Size
1.89 AC
Zoning
LC
Parking
77 Spaces (4.84 Spaces per 1,000 SF Leased)
Frontage
607’ on Dewey Drive

Amenities

  • Bus Line
  • Pylon Sign
  • Drive Thru

Major Tenants

  • Tenant
  • Industry
  • SF Occupied
  • Rent/SF
  • Lease Type
  • Lease End
  • Retailer
  • -
  • $29.54
  • Double Net
  • May 2031

Walgreens Boots Alliance began with Walgreens, which was founded in 1901 and grew from a neighborhood drugstore into a large pharmacy and retail business. The company was formed later through the combination of Walgreens and Alliance Boots, creating a business with a broad presence in pharmacy retail and health-focused services. Its operations include retail pharmacy, healthcare services, and pharmaceutical wholesale, with digital and in-store offerings that support prescription access, consultations, immunizations, and wellness products. Walgreens Boots Alliance has remained centered on pharmacy-led care while serving customers through a mix of community locations and online channels.

Tenant Industry SF Occupied Rent/SF Lease Type Lease End
Retailer - $29.54 Double Net May 2031
Fairly walkable
50/100
Exceptionally drivable
100/100
Some public transit
40/100
Fairly bikeable
40/100

Nearby Major Retailers

Grocery Outlet
24 Hour Fitness
Bank of Montreal
Safeway
Rent-A-Center
Applebee's
Starbucks

Property Taxes

Property Taxes

Parcel Numbers
Multiple
  • 229-0700-003
  • 229-0700-015
  • 229-0700-016
  • 229-0700-017
  • 229-0700-018
Land Assessment
$2,244,825
Improvements Assessment
$4,764,670
Total Assessment
$7,009,495
  • Listing ID: 36847319

  • Date on Market: 7/21/2025

  • Last Updated:

  • Address: 6144 Dewey Dr, Citrus Heights, CA 95621

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