43200 E Florida Ave - Drug Store FOR SALE


Hemet, CA 92544
$5,573,333 USD
510-388-4438
43200 E Florida Ave, Hemet, CA for Sale
$5,573,333 USD
Drug Store - FOR SALE
1/4
null | 5.85% Cap Rate

43200 E Florida Ave
Hemet, CA 92544


HIGHLIGHTS

  • New 15 Year Absolute NNN Lease with Rental Increases Every 5 Years
  • Zero Landlord Obligations
  • Corporate Guarantee - NASDAQ:WBA
  • Top Performing Location With Reported Sales of $3.1MM
  • Hard Corner Location

OVERVIEW

The Kase Group is pleased to present the opportunity to purchase a well established Walgreens location in Hemet, California with a New 15 Year Absolute NNN Lease. The lease calls for zero landlord obligations and is corporately guaranteed by Walgreens. The recently extended lease calls for 5% increases every 5 years and twelve, 5 year options for renewal. This Walgreens includes a drive through and is situated on a hard corner at the Signalized Intersection of New Chicago Ave and Florida Ave. The asset has excellent visibility with exposure to 15,000+ vehicles per day. This Walgreens is within walking distance of Lincoln View Condominiums which consists of 166 units and Abundant Grace Senior Living Retirement Home. The location is adjacent to Stater Bros. Markets and neighboring retailers include Jack in the Box, Carls Jr, 7-Eleven, Dollar Tree & more.

FOR SALE DETAILS

PRICE

$5,573,333 USD

PRICE/SF

$376 USD /SF

CAP RATE

5.85%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2000

SPRINKLERS

-

PARKING SPACES

75

LAND DETAILS

CROSS STREETS

New Chicago Ave

LAND ACRES

1.27 AC

LAND SF

55,321 SF

ZONING

C-P-S

APN/PARCEL ID

551-400-033

ASK ABOUT THIS PROPERTY

Jeff BraccoThe Kase GroupMore Info
510-388-4438

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Jeff BraccoThe Kase GroupMore Info
510-388-4438

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