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Drug Store

Walgreens

12645 S Virginia St, Reno, NV 89511

Listing Price: $7,100,000

Cap Rate
5.00%
Tenant Name
Walgreens
Years Remaining On Lease
8.1
Gross SF
14,560
Guarantor
Corporate Guarantee
Rentable SF
14,560
Price/Gross SF
$487.64
Lease Type
Absolute Net
Rent Per Square Feet
$24.38

Investment Overview

The offering is a 14,560 square foot freestanding Walgreens Pharmacy situated on 1.99 acres in Reno, Nevada. Constructed in 2004, the property is occupied by an investment grade tenant (Walgreens) on a long-term Absolute Triple-Net Lease (absolutely no landlord responsibilities). There are eight years remaining on the Absolute Triple-Net Lease. The subject property is located in South Reno, with excellent visibility from the signalized intersection of South Virginia Street and Arrowcreek Parkway (31,500 Cars Per Day). This location boasts an average household income of $137,010 in a one-mile radius, and a dense local population of 60,000+ residents in a three-mile radius. In addition, the nearest Walgreens to this site is seven miles away, allowing this location to thrive as evidenced by its strong store sales. Offered at $7,100,000 and a 5.0% Cap Rate, this property provides an investor the opportunity to achieve consistent returns with no management – all while being located in income-tax free Nevada.

Investment Highlights

  • Strong Store Sales have more than Doubled Since 2004
  • Long-Term Absolute Triple-Net Lease Allowing for Passive Ownership
  • Rapidly Expanding Market - The Population Within a Three-Mile Radius Has Grown 260 Percent in the Past 20 Years
  • Excellent Visibility from the Signalized Intersection of South Virginia Street and Arrowcreek Parkway (31,500 CPD)
  • Affluent Local Demographic ($137,010 HHI)

Exclusively Listed By

Listing Price: $7,100,000

Cap Rate
5.00%
Tenant Name
Walgreens
Years Remaining On Lease
8.1
Gross SF
14,560
Guarantor
Corporate Guarantee
Rentable SF
14,560
Price/Gross SF
$487.64
Lease Type
Absolute Net
Rent Per Square Feet
$24.38

Investment Highlights

  • Strong Store Sales have more than Doubled Since 2004
  • Long-Term Absolute Triple-Net Lease Allowing for Passive Ownership
  • Rapidly Expanding Market - The Population Within a Three-Mile Radius Has Grown 260 Percent in the Past 20 Years
  • Excellent Visibility from the Signalized Intersection of South Virginia Street and Arrowcreek Parkway (31,500 CPD)
  • Affluent Local Demographic ($137,010 HHI)

Investment Overview

The offering is a 14,560 square foot freestanding Walgreens Pharmacy situated on 1.99 acres in Reno, Nevada. Constructed in 2004, the property is occupied by an investment grade tenant (Walgreens) on a long-term Absolute Triple-Net Lease (absolutely no landlord responsibilities). There are eight years remaining on the Absolute Triple-Net Lease. The subject property is located in South Reno, with excellent visibility from the signalized intersection of South Virginia Street and Arrowcreek Parkway (31,500 Cars Per Day). This location boasts an average household income of $137,010 in a one-mile radius, and a dense local population of 60,000+ residents in a three-mile radius. In addition, the nearest Walgreens to this site is seven miles away, allowing this location to thrive as evidenced by its strong store sales. Offered at $7,100,000 and a 5.0% Cap Rate, this property provides an investor the opportunity to achieve consistent returns with no management – all while being located in income-tax free Nevada.

Exclusively Listed By

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