Walgreens | 43200 E Florida Ave
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Walgreens 43200 E Florida Ave
14,820 SF Retail Building Hemet, CA 92544 $5,573,333 ($376/SF) 5.85% Cap Rate
Investment Highlights
- New 15 Year Absolute NNN Lease with Rental Increases Every 5 Years
- Corporate Guarantee - NASDAQ:WBA
- Hard Corner Location
- Zero Landlord Obligations
- Top Performing Location With Reported Sales of $3.1MM
Executive Summary
The Kase Group is pleased to present the opportunity to purchase a well
established Walgreens location in Hemet, California with a New 15 Year
Absolute NNN Lease. The lease calls for zero landlord obligations and is
corporately guaranteed by Walgreens. The recently extended lease calls for
5% increases every 5 years and twelve, 5 year options for renewal. This
Walgreens includes a drive through and is situated on a hard corner at the
Signalized Intersection of New Chicago Ave and Florida Ave. The asset has
excellent visibility with exposure to 15,000+ vehicles per day. This Walgreens
is within walking distance of Lincoln View Condominiums which consists of
166 units and Abundant Grace Senior Living Retirement Home. The location
is adjacent to Stater Bros. Markets and neighboring retailers include Jack in
the Box, Carls Jr, 7-Eleven, Dollar Tree & more.
established Walgreens location in Hemet, California with a New 15 Year
Absolute NNN Lease. The lease calls for zero landlord obligations and is
corporately guaranteed by Walgreens. The recently extended lease calls for
5% increases every 5 years and twelve, 5 year options for renewal. This
Walgreens includes a drive through and is situated on a hard corner at the
Signalized Intersection of New Chicago Ave and Florida Ave. The asset has
excellent visibility with exposure to 15,000+ vehicles per day. This Walgreens
is within walking distance of Lincoln View Condominiums which consists of
166 units and Abundant Grace Senior Living Retirement Home. The location
is adjacent to Stater Bros. Markets and neighboring retailers include Jack in
the Box, Carls Jr, 7-Eleven, Dollar Tree & more.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,820 SF
Building Class
C
Year Built
2000
Price
$5,573,333
Price Per SF
$376
Cap Rate
5.85%
NOI
$326,040
Tenancy
Single
Building Height
1 Story
Building FAR
0.27
Lot Size
1.27 AC
Zoning
C-P-S - General Retail
Parking
75 Spaces (5.06 Spaces per 1,000 SF Leased)
Frontage
388 FT on E Florida Ave
Amenities
- Bus Line
- Signage
- Signalized Intersection
- Drive Thru
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 551-400-033 | Improvements Assessment | $3,743,526 |
| Land Assessment | $583,604 | Total Assessment | $4,327,130 |
PROPERTY TAXES
Parcel Number
551-400-033
Land Assessment
$583,604
Improvements Assessment
$3,743,526
Total Assessment
$4,327,130
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Walgreens | 43200 E Florida Ave
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