For Sale
$8,567,000

4760 Val Vista DrGilbert, AZ 85297

High-yield Walgreens investment, Arizona.

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional investment opportunity presents a brand-new, 10,000-square-foot Walgreens pharmacy in Gilbert, Arizona, built in 2024. The property boasts a 15-year absolute NNN lease with a highly-rated tenant, Walgreens (NASDAQ: WBA), ranked #28 on the Fortune 500, generating $145.53 billion in annual revenue. The lease features 5% rent bumps every 10 years, starting with the second option period, ensuring consistent income growth. Located at a hard corner on a busy intersection with over 53,000 cars daily, this property benefits from a strong daytime population exceeding 72,000 employees in the primary trade area and serves a thriving community of over 283,000 residents in one of the fastest-growing cities in the U.S. The affluent area boasts an average household income exceeding $168,000 within a 3-mile radius. The strategic location is further enhanced by proximity to major attractions including SanTan Village, SanTan Motorplex, Mercy Gilbert Medical Center, Phoenix Children's Hospital, and numerous schools and colleges. The property's strong demographics, coupled with the long-term lease and built-in rent increases, make this a compelling investment with a 6.00% cap rate and a $8,567,000 asking price ($856.70/sq ft). The property is situated near significant amenities such as Gilbert Regional Park, a planned Cactus Surf Park, and the Phoenix-Mesa Gateway Airport, all contributing to its exceptional long-term value. This is a rare opportunity to acquire a high-performing, low-maintenance asset in a prime location.

Highlights

  • 15-Year Absolute NNN Lease, no landlord responsibilities.
  • Brand new construction, first in Arizona in ~10 years.
  • Tenant: Walgreens (Fortune 500, $145.53B annual revenue).
  • 5% rent increases every 10 years starting in Option 2.
  • High-growth area, serving over 283,000 residents.
  • Located in a rapidly developing area with thousands of new homes.

Property Details for 4760 Val Vista Dr

Property type
Retail properties, Drug stores
Square Feet
10,000 SF
Year Built
2024
Units
1

Location Insight

City
Gilbert
County
Maricopa
State
Arizona
Latitude
33.2638462
Longitude
-111.7562337
4760 Val Vista Dr, Gilbert, Arizona

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4760 Val Vista Dr
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