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Walgreens 2363 S Lindsay Rd

15,070 SF 100% Leased Retail Building Gilbert, AZ 85295 $5,879,814 ($390/SF) 5.90% Cap Rate

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Investment Highlights

Brand New NNN Lease
Located on a Hard Corner at the Signalized Intersection of E. Williams Field Rd. (57,952 VPD) & S. Lindsay Rd. (23,827 VPD)
9.5 MSF Retail, 4.1 MSF Office, 3.6 MSF Industrial & 7,228 Multifamily Units Within 3 Miles

5% Rent Increases Every 5 Years & in Each of the Twelve, 5-Year Renewal Options
Outparcel to the Lindsay Square Shopping Center (Fitness 1440, Phoenix Learning Centers, Mitch's Beads, Jabz Boxing, Ziggi's Coffee, etc.)
Phoenix MSA | Population: 5.06M+

Executive Summary

CBRE is pleased to exclusively offer for sale the 15,070-square-foot Walgreens situated on 2.06 acres in Gilbert, AZ—a component of the Phoenix, AZ MSA (Population: 5.06M+). Walgreens’ NNN lease commenced in November 2023 and features ±14.0 years of term remaining with 5% rent increases every 5 years and in each of the twelve, 5-year renewal options.

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Drug Store

Building Size

15,070 SF

Building Class

Year Built

2001

Price

$5,879,814

Price Per SF

$390

Cap Rate

5.90%

NOI

$346,909

Percent Leased

100%

Tenancy

Multiple

Building Height

1 Story

Building FAR

0.17

Land Acres

2.06 AC

Zoning

C-C

Parking

5.51 Spaces per 1,000 SF Leased

Retailer
99,999 SF
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Walgreens is a trusted and convenient local health destination that millions of Americans rely on every day. Their founder, Charles R. Walgreen Sr., was known for finding new ways to connect with customers on a personal level and treating each person like a guest in his own home. For over a century, they have expanded that personal connection through their network of neighborhood pharmacies and their innovative health services and products. The foundation for all of this is their trusted pharmacy expertise, and their team members who provide essential care that helps people achieve better health outcomes at an affordable cost.