This freestanding retail asset in Pendleton, Oregon, is currently leased to Walgreens through May 2033 at an annual rent of $350,000, providing stable, long-term income backed by a national credit tenant. While Walgreens no longer occupies the space, they remain contractually obligated to fulfill all rent payments through the lease expiration date. The property is fully subleased to NAPA Auto Parts, a nationally recognized automotive retailer, which operates from the premises under an arrangement with Walgreens. Although the rental amount paid by NAPA to Walgreens is unknown, investors benefit from the security of Walgreens’ continued lease obligation for the next eight years. This structure offers both immediate and future upside. At the current asking price of $3,300,000, the property generates an attractive in-place cap rate of 10.6%, with zero landlord responsibilities and income backed by an investment-grade tenant. Looking ahead, this asset presents a rare repositioning opportunity in 2033, where investors can either negotiate directly with NAPA Auto Parts to formalize a new lease or re-tenant the property at market rates. Positioned in a supply-constrained market with limited quality inventory, this asset blends reliable income today with value-add potential tomorrow, making it an ideal acquisition for both yield-focused and opportunistic investors.