1080 SW 1st Ave - Drug Store FOR SALE


Canby, OR 97013
$4,742,400 USD
949-903-3399
1080 SW 1st Ave, Canby, OR for Sale
$4,742,400 USD
Drug Store - FOR SALE
1/7
null | 6.25% Cap Rate

1080 SW 1st Ave
Canby, OR 97013


HIGHLIGHTS

  • Proven Long Term Absolute NNN Corp. Lease by Walgreens - 12 Yrs. plus Options
  • High Profile Corner across from Safeway Grocer/Canby High School (1400+ Students)
  • Strong Lease Guarantee - Subsidiary of Sycamore Partners Private Equity ($11B+ Assets)
  • Recent New Prototype 15 Yr. Lease Extension to include Rare Rent Bumps every 5 Yrs.
  • Premier Retail Corridor - Part of Portland/Vancouver MSA Trade Area (Heart of Oregon)
  • High Profile Large 1.39 Acre Site - Zero LL Duties - Proven Store via New Long Term Lease

OVERVIEW

The Snyder Carlton National Net Lease Team is pleased to offer investors the opportunity to acquire the absolute net leased Walgreens in Canby, OR. Walgreens is the second largest pharmacy chain in the U.S., has been in business over 125 years and serves over 9 million customers daily. This asset is subject to a long-term lease with over 11.5 years remaining in the primary period, twelve 5-year option periods, rent increases every 5 years and zero landlord responsibilities. The 14,745 SF building on 1.39-acre parcel is positioned on the hard corner signalized intersection of SW 1st Avenue (Pacific Highway E) and Berg Parkway which sees a combined traffic count exceeding 33,047 VPD and positioned within the Portland/Vancouver/Hillsboro MSA (population exceeding 2.54 million. Nearby Retailers Include Fred Meyer, Grocery Outlet, Cutsforth’s Market, 7-Eleven, Dollar Tree, Wells Fargo Bank, U.S. Bank, AutoZone, O’Reilly Auto Parts, McDonald’s, Chipotle, Starbucks, Dutch Bros, Taco Bell, Panda Express and more. Don’t miss out on the excellent opportunity to purchase this Walgreens in the Portland area on a long-term lease with no landlord responsibilities providing effortless cash flows for years to come.

FOR SALE DETAILS

PRICE

$4,742,400 USD

PRICE/SF

$320 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens Absolute NNN Lease

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Convenience Store, Fast Food, Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2007

SPRINKLERS

-

PARKING SPACES

58

LAND DETAILS

LAND ACRES

1.39 AC

LAND SF

60,548 SF

ZONING

CM

APN/PARCEL ID

01732904

ASK ABOUT THIS PROPERTY

Eric CarltonColliersMore Info
949-903-3399

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Eric CarltonColliersMore Info
949-903-3399

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