Pharma Property Group has been retained as exclusive agent and is pleased to offer investors the opportunity to acquire a Walgreens in Sacramento, CA. This is a rare opportunity to purchase a drugstore in California which has a high barrier of entry in the drugstore space as properties in this state are rarely available for sale.
Walgreens recently exercised its first 5-year option showing commitment to this location. Walgreens has 9.5 yrs remaining of guaranteed income before the one (4-year) and eight (5 year) options that begin June 30, 2030. The option was exercised early due to store performance. The subject property is one of only two drugstores in a two-mile radius serving nearly 20,000 households. There is a CVS store ±1.32 miles directly east.
There are two major hospitals within a three-mile radius and two dialysis centers within blocks of the subject property. Methodist Hospital is part of the Dignity Health Network and has 158-beds with nearly 1,300 medical and support staff. It offers extensive emergency and urgent care services, a birth center and cancer care. Kaiser Permanente has almost 5000 medical and support staff and offers urgent and emergency services. The dialysis centers are Fresenius one block east and a Davita directly adjacent to this Walgreens.
This Walgreens location is just 10 miles south from Downtown Sacramento via State Route 99 (±175,000 vehicles per day) or Interstate 5 (±141,000 vehicles per day). The subject property is located on the signalized intersection of Mack Road (±27,979 vehicles per day) and Franklin Boulevard (±27,529 vehicles per day) with a combined traffic count of ±55,508. Sacramento is a densely populated city with ±837,572 residents in a 10-mile radius of the subject property. The Greater Sacramento area has over 2,300,000 million residents.