1935 Power Rd Mesa, AZ 85205

This exceptional investment opportunity presents a 15,525-square-foot Walgreens located at 1935 N Power Rd, Mesa, AZ 85205. The property, built in 1995, sits on a 2.07-acre lot and boasts a Class A designation. Currently operating under a Net Lease agreement with Walgreens, the lease commenced August 1, 1995, and has a remaining term of 5.1 years, expiring December 31, 2029, with six 5-year options. The property features a drive-thru and enjoys 100% occupancy, generating a strong NOI of $170,000 and a compelling 7.41% cap rate. The asking price is $2,293,333, translating to $147.72 per square foot. The underlying ground lease extends to March 15, 2059, offering significant long-term value. This strategically positioned property benefits from high traffic counts exceeding 45,462 vehicles daily on nearby major roads, proximity to Mesa Community College (enrollment exceeding 21,240 students), and a strong demographic profile, including an affluent area with average household incomes exceeding $105,236 within a one-mile radius and a significant population growth trend. Neighboring national tenants include Home Depot, Target, Michaels, and many more, solidifying this location's prime retail corridor status. This is a leasehold interest offering a secure, high-yield investment with a corporate guarantee from Walgreens.