For Sale
$4,230,000

1975 Alma School RdChandler, AZ 85286

High-traffic Walgreens, strong NOI.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 13,905 square foot Walgreens, a credit-rated tenant, situated on a prominent 2.3-acre hard corner lot in Chandler, Arizona. The property enjoys a high-traffic location at the intersection of S Alma School Rd and W Germann Rd, with approximately 52,080 vehicles passing daily. The current Net Lease (NN+) agreement with Walgreens, the largest retail health and pharmacy chain in the US, has 1.2 years remaining with seven five-year renewal options. The property boasts a strong Net Operating Income (NOI) of $296,000, resulting in a 7.00% cap rate at an asking price of $4,230,000 ($304.21/sq ft). Built in 2000, this single-tenant building benefits from a robust demographic profile, with a population of approximately 108,026 and an average household income of $133,437 within a three-mile radius. Nearby amenities include Fry's (Kroger), Mountainside Fitness, and major medical facilities such as Banner Ocotillo Medical Center and Dignity Health Chandler Regional Medical Center. This location offers significant upside potential due to its size, tenant strength, and prime location within a dense employment corridor. The property's APN is 303-27-238.

Highlights

  • Net-leased Walgreens; 1.5 years remaining, seven 5-year options.
  • Credit-rated Walgreens (WBA), a Fortune 500 company with over $139B annual revenue.
  • High-traffic hard corner (S Alma School Rd & W Germann Rd), ~52,080 VPD.
  • Large 2.3-acre parcel (100,036 SF).
  • Strong demographics: 108,026 population, $133,437 avg. household income (3-mile radius).
  • Near Fry's, Mountainside Fitness, and major medical centers.

Property Details for 1975 Alma School Rd

Property type
Retail properties, Drug stores
Square Feet
13,905 SF
Year Built
2000
Buildings
1
Lot Size (sq. ft)
100,188 SF
Units
1

Location Insight

City
Chandler
County
Maricopa
State
Arizona
Latitude
33.277149332697
Longitude
-111.85816578305
1975 Alma School Rd, Chandler, Arizona

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1975 Alma School Rd
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