For Sale
$5,573,333

43200 Ca-74Hemet, CA 92544

High-performing Walgreens, NNN lease, strong ROI.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 14,820 square foot Walgreens located at 43200 CA-74, Hemet, CA 92544. The property boasts a new 15.1-year absolute NNN lease commencing May 31, 2024, and expiring June 29, 2039, with a remaining term of 14.6 years. The lease includes a corporate guarantee from Walgreens (NASDAQ:WBA) and features rental increases of 5% every five years. With zero landlord obligations, this investment offers a secure and passive income stream. The property's strong financial performance is evident in its $326,040 NOI and a 5.85% cap rate, based on an asking price of $5,573,333 ($376.07/sq ft). This high-performing location reports $3.1 million in annual sales. Strategically positioned on a hard corner with excellent visibility, the property benefits from high traffic volume exceeding 15,000 vehicles per day (VPD). Its prime location is further enhanced by proximity to Stater Bros. Markets and other national retailers such as Jack in the Box, Carl's Jr., 7-Eleven, and Dollar Tree. The Walgreens is also conveniently located near Lincoln View Condominiums (166 units) and Abundant Grace Senior Living Retirement Home. This is a rare opportunity to acquire a stable, high-performing retail asset with significant long-term growth potential.

Highlights

  • New 15-year Absolute NNN lease with 5% rent increases every 5 years.
  • Zero landlord obligations.
  • Corporate guarantee by Walgreens (NASDAQ: WBA).
  • High-performing location with $3.1 million in reported sales.
  • Hard corner location with excellent visibility and 15,000+ VPD.
  • Excellent location near Stater Bros. Markets and other national retailers.

Property Details for 43200 Ca-74

Property type
Retail properties, Drug stores
Square Feet
14,820 SF

Location Insight

City
Hemet
County
Riverside
State
California
Latitude
33.7483615
Longitude
-116.905834
43200 Ca-74, Hemet, California

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43200 Ca-74
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