1602 E Thomas Rd - Drug Store FOR SALE


Phoenix, AZ 85016
$5,546,000 USD
404-504-7900
1602 E Thomas Rd, Phoenix, AZ for Sale
$5,546,000 USD
Drug Store - FOR SALE
1/7
null | 5.75% Cap Rate

1602 E Thomas Rd
Phoenix, AZ 85016


HIGHLIGHTS

  • Just 0.3 miles west of the Phoenix Children’s Hospital
  • 13.8 MSF of retail, 40.2 MSF of office, 8.7 MSF of industrial, and 47,012 multifamily units within a 3-mile radius of the site
  • Positioned less than 5 miles northeast of downtown Phoenix

OVERVIEW

CBRE is pleased to exclusively offer for sale the 13,846-square-foot Walgreens situated on 1.85 acres in Phoenix, AZ (MSA Population: 5.06M+). Walgreens’ NNN lease recently commenced in November 2023 and features ±14.0 years of term remaining with 5% rent increases every 5 years throughout the term and in each of the twelve 5-year renewal options.

FOR SALE DETAILS

PRICE

$5,546,000 USD

PRICE/SF

$401 USD /SF

CAP RATE

5.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens: Phoenix, AZ

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1998

SPRINKLERS

-

PARKING SPACES

89

LAND DETAILS

LAND ACRES

1.85 AC

LAND SF

80,538 SF

ZONING

C-2

APN/PARCEL ID

119-33-134

ASK ABOUT THIS PROPERTY

Brian PfohlCBREMore Info
404-504-7900

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Brian PfohlCBREMore Info
404-504-7900

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.