1880 E Irvington Rd - Drug Store FOR SALE


Tucson, AZ 85714- Ward 5
$3,929,491 USD
909-618-5680
1880 E Irvington Rd, Tucson, AZ for Sale
$3,929,491 USD
Drug Store - FOR SALE
1/8
null | 8.85% Cap Rate

1880 E Irvington Rd
Tucson, AZ 85714
Ward 5


HIGHLIGHTS

  • Corporate-guaranteed absolute NNN lease with zero landlord responsibilities
  • 25-year operating history at location
  • Surrounded by daily-needs retail including Fry’s Food & Drug, Food City, Ace Hardware and mor
  • Convenient access to Tucson International Airport and Interstate 10.

OVERVIEW

Investment Highlights Corporate-guaranteed absolute NNN lease with zero landlord responsibilities 25+ year operating history Outparcel to Irvington Plaza, a ±54,480 SF shopping center anchored by Goodwill and O’Reilly Auto Parts Signalized corner location with ±56k VPD, across from multiple established retail centers The Property features ±14,490 SF of improvements on ±1.7 acres, including a drive-thru and a parking area with ±75 spaces Market Highlights Situated in an established Tucson submarket with strong residential density with a population of over 89,310 within a 3-mile radius Retailers at this intersection serve as primary options within a 5-mile residential corridor Surrounded by anchored shopping centers featuring a mix of national, regional, and local retailers Located within 1 mile south of a dominant retail corridor featuring Costco, Walmart Supercenter, Bass Pro Shops, and Dave & Buster’s Near Tucson International Airport (2.5 miles north) Convenient access to I-10 (1.2 miles north), a key thoroughfare connecting to greater Tucson Note: Tenant pays Arizona’s Transaction Privilege Tax (TPT) of ~ $898.38/month in addition to base rent of $28,980/ month, for a total monthly payment of ~ $29,878.38 to the landlord. The landlord remits the tax to the State/City, which is currently~ $926.33/month. TPT may vary per year, any shortfall is subject to reimbursement by the tenant per the lease. Rent tax is a pass-through expense and is not included in NOI.

FOR SALE DETAILS

PRICE

$3,929,491 USD

PRICE/SF

$271 USD /SF

CAP RATE

8.85%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens - Corporate Absolute NNN Lease

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2002

SPRINKLERS

-

PARKING SPACES

75

LAND DETAILS

LAND ACRES

1.7 AC

LAND SF

74,161 SF

ZONING

C-1

APN/PARCEL ID

140-16-011B

ASK ABOUT THIS PROPERTY

Kelvin ZhouCentury Partners Real Estate Inc.More Info
909-618-5680

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Kelvin ZhouCentury Partners Real Estate Inc.More Info
909-618-5680

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