Walgreens & Shops | 100% Occupied | 1150 W 8th St
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Walgreens & Shops | 100% Occupied 1150 W 8th St
20,015 SF 100% Leased Retail Building Yuma, AZ 85364 $4,038,000 ($201.75/SF) 7% Cap Rate
INVESTMENT HIGHLIGHTS
- 100% Occupied | Walgreens Anchored | Strong Tenant Line-up |Corporate Guaranteed Lease | 30 Years Operating History
- Excellent Location & Accessibility | Across From a Food City Signalized, Hard Corner Intersection | I-8 Freeway (40,900 VPD)
- Recent Extension & Future Rent Increases | NNN Leases
- Strong Demographics In 5-Mile Trade Area
EXECUTIVE SUMMARY
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a 100% leased, Walgreens-anchored, multi-tenant retail investment property located in Yuma, Arizona. The anchor tenant, Walgreen Arizona Drug Co., has been operating on site for nearly 30 years and recently signed amendments to extend the term by 5 years, including both the current term and future option periods. Additionally, the newly signed amendments introduce a rent increase schedule for Walgreens, growing NOI and hedging against inflation while also demonstrating a strong commitment to the site. Other tenants in the center boast a strong e-commerce resistant lineup. All leases are NNN in nature with limited landlord responsibilities, making it a low-management investment opportunity.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
20,015 SF
Building Class
B
Year Built
1994
Price
$4,038,000
Price Per SF
$201.75
Cap Rate
7%
NOI
$282,652
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.19
Lot Size
2.42 AC
Zoning
C - Commercial
Parking
124 Spaces (6.2 Spaces per 1,000 SF Leased)
AMENITIES
- Corner Lot
- Freeway Visibility
- Signage
- Signalized Intersection
Walk Score®
Very Walkable (77)
Bike Score®
Very Bikeable (84)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 632-64-142 | Improvements Assessment | $282,887 |
| Land Assessment | $13,321 | Total Assessment | $296,208 |
PROPERTY TAXES
Parcel Number
632-64-142
Land Assessment
$13,321
Improvements Assessment
$282,887
Total Assessment
$296,208
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Walgreens & Shops | 100% Occupied | 1150 W 8th St
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