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Drug Store

Walgreens

22320 Meridian E, Graham, WA 98338

Listing Price: $7,725,000

Cap Rate
5.48%
Tenant Name
Walgreens
Years Remaining On Lease
12.0
Gross SF
14,334
Guarantor
Corporate Guarantee
Rentable SF
14,334
Price/Gross SF
$538.93
Lease Type
Absolute Net
Rent Per Square Feet
$29.53

Investment Overview

Marcus & Millichap has been exclusively selected to market for sale Walgreens located in Graham Washington. The property is well located on the corner of Meridian Ave E and 224th St. E in front of a Safeway anchored retail center. This is the dominant retail corner in the marketplace with numerous national retailers in the area. Walgreens is operating on a 25-year, absolute NNN lease, that commenced in 2009 and has 12+ years remaining of firm term with ten 5-year options. This presents a strong opportunity for an investor to acquire a stable, passive investment property with great long-term viability.

Investment Highlights

  • Income Tax Free State (WA)
  • Grocery Anchored; Newer Construction
  • Hard Corner Location with Strong Traffic Counts
  • Long Term Lease Remaining –12+ Years with Options
  • Strong Suburban Location
  • Absolute NNN Lease

Exclusively Listed By

Broker of Record

  • Joel Deis

    Vice President / Regional Manager

    (206) 826-5700

    License(s) WA: 25469

    Washington

Financing By

  • Tammy Linden

    Vice President Capital Markets

    Direct:

    Email Tammy

    Seattle, WA

Listing Price: $7,725,000

Cap Rate
5.48%
Tenant Name
Walgreens
Years Remaining On Lease
12.0
Gross SF
14,334
Guarantor
Corporate Guarantee
Rentable SF
14,334
Price/Gross SF
$538.93
Lease Type
Absolute Net
Rent Per Square Feet
$29.53

Investment Highlights

  • Income Tax Free State (WA)
  • Grocery Anchored; Newer Construction
  • Hard Corner Location with Strong Traffic Counts
  • Long Term Lease Remaining –12+ Years with Options
  • Strong Suburban Location
  • Absolute NNN Lease

Investment Overview

Marcus & Millichap has been exclusively selected to market for sale Walgreens located in Graham Washington. The property is well located on the corner of Meridian Ave E and 224th St. E in front of a Safeway anchored retail center. This is the dominant retail corner in the marketplace with numerous national retailers in the area. Walgreens is operating on a 25-year, absolute NNN lease, that commenced in 2009 and has 12+ years remaining of firm term with ten 5-year options. This presents a strong opportunity for an investor to acquire a stable, passive investment property with great long-term viability.

Exclusively Listed By

Broker of Record

  • Joel Deis

    Vice President / Regional Manager

    (206) 826-5700

    License(s): WA: 25469

    Washington

Financing By

  • Tammy Linden

    Vice President Capital Markets

    Direct:

    Email Tammy

    Seattle, WA

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