Walgreens | Investment Grade Credit Tenant
1510 North Santa Fe Avenue, Vista, CA 92083
Price: $5,870,000
Status: Sold
Cap Rate: 5.75%
Year Built: 2000
NOI: $337,500
Lot Size: 1.70 acres
Price Per Foot: $388
Lease Type: Double Net (NN)
Remaining Term: 10+ Years
GLA: 15,120 sqft
Property Intro
Lee & Associates is pleased to exclusively offer for sale, the fee simple interest (land & building) in a Walgreens property located in Vista, CA (the “Property”). Built in 2000, the Property consists of a 15,120-square-foot retail building with two drive-thru lanes that sits on an approximately 1.7-acre parcel.
The building is leased to Walgreens Co. (NYSE: WBA) on a corporate lease providing an investor with an investment grade credit rating from Standard of Poor’s of “BBB”. Walgreen’s parent company Walgreens Boots Alliance, Inc. is currently the largest retail pharmacy in the US and Europe, with 13,000 stores in over 9 countries and an impressive $28 billion Market Cap.
investment highlights
- Walgreens Corporate Lease (NASDAQ: WBA) and Investment Grade Credit (S&P: BBB)
- Strong Reported Store Sales and Ranked top 40% Nationally for Walgreens (Source: Placer.ai)
- $64,000 in New Roof Repairs (New 12 Year Transferable Roof Warranty)
- High Traffic Location and Excellent Visibility
- Rare San Diego County Net Leased Investment Opportunity
listing agents
