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Drug Store

Walgreens

2005 W Court St, Pasco, WA 99301

Listing Price: $6,110,000

Cap Rate
5.55%
Tenant Name
Walgreens
Years Remaining On Lease
7.1
Guarantor
Corporate Guarantee
Rentable SF
17,736
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$19.11

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale Walgreens, a 14,736 square foot building situated on 1.35 acres of land (58,806 SF) ideally located on the NW signalized corner of W Court Street and N 20th Avenue in the Franklin County Tri-Cities submarket of Pasco, WA. Walgreens has successfully operated at this location for over 17 years since October of 2004. The initial term of their seventy-year lease expires in October of 2029, and they have nine – 5-year options to extend the terms of their lease. Walgreens is on a fixed rate rent of $28,250 per month ($1.92 per SF) for the entire term of their lease. Walgreens benefits from excellent visibility and frontage along both W Court Street and N 20th Avenue, with 128’ of frontage along N 20th Avenue and 184’ of frontage along W Court Street. The site offers 68 surface parking spaces, a parking ratio of 4.62 per 1,000 square feet. The signalized corner has strong daily traffic counts north of 18,000 vehicles per day. Walgreens is second largest pharmacy store chain in the United States. The company has over 9,000 drugstores, 225,000 employees, and is located in all 50 states. On December 31, 2014, Walgreens and Switzerland-based Alliance Boots merged to form a new holding company, Walgreens Boots Alliance Inc. Walgreens became a subsidiary of the new company, which retained its Deerfield headquarters and trades on the Nasdaq under the symbol WBA.

Investment Highlights

  • Stable and Secure Income Stream
  • Strong Signalized Corner Location
  • Directly Across from the Court Street Plaza

Exclusively Listed By

Broker of Record

  • Joel Deis

    First Vice President/Regional Manager

    (206) 826-5700

    License(s) WA: 25469

    Washington

Financing By

Drug Store

Walgreens

Listing Price: $6,110,000

Cap Rate
5.55%
Tenant Name
Walgreens
Years Remaining On Lease
7.1
Guarantor
Corporate Guarantee
Rentable SF
17,736
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$19.11

Investment Highlights

  • Stable and Secure Income Stream
  • Strong Signalized Corner Location
  • Directly Across from the Court Street Plaza

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale Walgreens, a 14,736 square foot building situated on 1.35 acres of land (58,806 SF) ideally located on the NW signalized corner of W Court Street and N 20th Avenue in the Franklin County Tri-Cities submarket of Pasco, WA. Walgreens has successfully operated at this location for over 17 years since October of 2004. The initial term of their seventy-year lease expires in October of 2029, and they have nine – 5-year options to extend the terms of their lease. Walgreens is on a fixed rate rent of $28,250 per month ($1.92 per SF) for the entire term of their lease. Walgreens benefits from excellent visibility and frontage along both W Court Street and N 20th Avenue, with 128’ of frontage along N 20th Avenue and 184’ of frontage along W Court Street. The site offers 68 surface parking spaces, a parking ratio of 4.62 per 1,000 square feet. The signalized corner has strong daily traffic counts north of 18,000 vehicles per day. Walgreens is second largest pharmacy store chain in the United States. The company has over 9,000 drugstores, 225,000 employees, and is located in all 50 states. On December 31, 2014, Walgreens and Switzerland-based Alliance Boots merged to form a new holding company, Walgreens Boots Alliance Inc. Walgreens became a subsidiary of the new company, which retained its Deerfield headquarters and trades on the Nasdaq under the symbol WBA.

Exclusively Listed By

Broker of Record

  • Joel Deis

    First Vice President/Regional Manager

    (206) 826-5700

    License(s): WA: 25469

    Washington

Financing By

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