WALGREENS (DARK) | 16749 E Shea Blvd
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WALGREENS (DARK) 16749 E Shea Blvd
14,490 SF Retail Building Fountain Hills, AZ 85268 $3,000,000 ($207/SF)
Investment Highlights
- Strong 5-Mile household income exceeding $154,100.
- Situated on Shea Blvd, which is the main travel corridor between Fountain Hills and Scottsdale
- ±$714.9 Million in Consumer Spending within a 5-mile Radius
Executive Summary
PASSIVE LEASE STRUCTURE
-Absolute Triple Net (NNN) lease providing Zero Landlord Responsibility for the remainder of the lease term.
GUARANTEED INCOME
-Walgreens (NASDAQ: WBA) generated over $145.5 Billion in the trailing twelve months ending May 31, 2024, and guarantees the remaining rental payments until lease expiration.
MAJOR MULTIFAMILY DEVELOPMENT
-Village at Four Peaks has been approved for a ±316 Unit Multifamily redevelopment of the Western wing of Four Peaks Plaza, which is adjacent to the subject property.
-Park Place at Fountain Hills has completed the first two Phases providing ±230 Units of Multifamily, and the next two Phases have been approved.
FLEXIBLE FUTURE USE
-The property is zoned C-2 (Intermediate Commercial), providing the Buyer with extensive options.
-Single-lane Drive-Thru on the West side of the building.
Broker of Record
Simon Assaf
License No. CO701910000 (AZ)
-Absolute Triple Net (NNN) lease providing Zero Landlord Responsibility for the remainder of the lease term.
GUARANTEED INCOME
-Walgreens (NASDAQ: WBA) generated over $145.5 Billion in the trailing twelve months ending May 31, 2024, and guarantees the remaining rental payments until lease expiration.
MAJOR MULTIFAMILY DEVELOPMENT
-Village at Four Peaks has been approved for a ±316 Unit Multifamily redevelopment of the Western wing of Four Peaks Plaza, which is adjacent to the subject property.
-Park Place at Fountain Hills has completed the first two Phases providing ±230 Units of Multifamily, and the next two Phases have been approved.
FLEXIBLE FUTURE USE
-The property is zoned C-2 (Intermediate Commercial), providing the Buyer with extensive options.
-Single-lane Drive-Thru on the West side of the building.
Broker of Record
Simon Assaf
License No. CO701910000 (AZ)
Taxes & Operating Expenses (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
Taxes & Operating Expenses (Actual - 2024) Click Here to Access
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
Sale Type
Owner User
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,490 SF
Building Class
B
Year Built
2003
Price
$3,000,000
Price Per SF
$207
Tenancy
Single
Building Height
1 Story
Building FAR
0.17
Land Acres
2.00 AC
Zoning
C-2, Fountain Hills - Commercial
Amenities
- Drive Thru
PROPERTY TAXES
| Parcel Number | 176-09-485 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $498,107 |
PROPERTY TAXES
Parcel Number
176-09-485
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$498,107
-
Hudson DeJean -
Alex DeSoto -
Matthews Real Estate Investment Services
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WALGREENS (DARK) | 16749 E Shea Blvd
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