2299 Oddie Blvd - Drug Store FOR SALE


Sparks, NV 89431- Downtown Sparks
$5,193,000 USD
513-300-0763
2299 Oddie Blvd, Sparks, NV for Sale
$5,193,000 USD
Drug Store - FOR SALE
1/17
null | 7.22% Cap Rate

2299 Oddie Blvd
Sparks, NV 89431
Downtown Sparks


HIGHLIGHTS

  • Walgreens Absolute NNN Leased Investment Zero Landlord Responsibilities
  • Over 8 Years Remaining on Initial Term Ten, Five Year Options to Extend (August 1, 2078)
  • Long Term Occupancy Since 2009 10% Rent Increase, August 2028 ($412,500.00 annually)
  • Corporate Guaranty Drive-Thru Positioned on Hard Corner Signalized Intersection (39,000 CPD)
  • Strong Visibility Tax Free Income State Excellent Demographics Positioned with Little Competition Servicing the Neighborhood
  • Approximately 2 Miles to Renown Regional Medical Ctr. Approximately 3 Miles to St. Mary's Regional Med. Ctr. 4.5 Miles from Reno-Tahoe International

OVERVIEW

Introducing a lucrative NNN leased investment opportunity at Walgreens on 2299 Oddie Blvd, Sparks, NV 89431. This prime property boasts a 7.22% cap rate and a $375,000 NOI with over 8 years remaining on the initial 25-year lease term. Plus, the lease offers ten five-year extension options, making it an attractive long-term investment. Strategically located at the bustling intersection of Oddie Boulevard and El Rancho Drive, this property enjoys high visibility with approximately 39,000 vehicles passing by daily. Surrounded by a mix of residential and commercial developments, including the Parq Crossing and a forthcoming multi-family project, it stands as a cornerstone of a thriving community. Additionally, the area's $52 million Oddie/Wells Improvement Project is set to bring 1,500 new residential units, promising further growth and opportunities for investors. Don't miss out on this turnkey investment opportunity in the vibrant Reno/Sparks market. Contact us today to seize the potential of owning a Walgreens-tenanted property with a secure NNN lease.

FOR SALE DETAILS

PRICE

$5,193,000 USD

PRICE/SF

$357 USD /SF

CAP RATE

7.22%

% 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

2009

SPRINKLERS

-

PARKING SPACES

35

LAND DETAILS

LAND ACRES

1.43 AC

LAND SF

62,395 SF

ZONING

C2

APN/PARCEL ID

031-012-24

ASK ABOUT THIS PROPERTY

Brian BrockmanBang RealtyMore Info
513-300-0763

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Brian BrockmanBang RealtyMore Info
513-300-0763

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