5829 Lakewood Blvd - Drug Store FOR SALE


Lakewood, CA 90712
$8,254,545 USD
760-622-3225
5829 Lakewood Blvd, Lakewood, CA for Sale
$8,254,545 USD
Drug Store - FOR SALE
1/9
null | 5.5% Cap Rate

5829 Lakewood Blvd
Lakewood, CA 90712


HIGHLIGHTS

  • Long-Term Absolute NNN Lease – Recent Lease Extension 13 years of term remaining on an absolute NNN lease, with no Landlord maintenance or expense res
  • Walgreens Corporate Guarantee – Excellent Store Sales Walgreens (S&P rating of BB-) reported $147 billion in revenue for 2024 and $81 billion in Asse
  • High-Traffic Location Located in a highly trafficked retail corridor at the signalized, hard-corner intersection of Lakewood Boulevard and South Stre

OVERVIEW

Long-Term Absolute NNN Lease – Recent Lease Extension 13 years of term remaining on an absolute NNN lease, with no Landlord maintenance or expense responsibilities Tenant extended the base term of the Lease in June 2023 adding an additional 10 years to the original term, evidence of Walgreens long-term commitment to this location Walgreens Corporate Guarantee – Excellent Store Sales Walgreens (S&P rating of BB-) reported $147 billion in revenue for 2024 and $81 billion in Assets. High performance location – strong historical Store sales (contact Broker for details) High-Traffic Location Located in a highly trafficked retail corridor at the signalized, hard-corner intersection of Lakewood Boulevard and South Street Combined traffic count at the intersection of Lakewood Blvd and South Street is 58,198 vehicles per day Strong Demographics | Affluent Trade Area 258,123 residents within a 3-mile radius Average household income is approximately $128,744 within 1 mile Strong Retail Synergy Walgreens is less than ½ mile east of a Walmart Supercenter and a WinCo Foods which ranks in the top 25% of all WinCo locations nationwide in visits according to Placer.ai Less than 1 mile north of Lakewood Center, a regional shopping mall with over 2 million square feet of retail space, anchored by Costco, Forever 21, JCPenney, Macy’s and Target

FOR SALE DETAILS

PRICE

$8,254,545 USD

PRICE/SF

$573 USD /SF

CAP RATE

5.5%

% 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

2003

SPRINKLERS

-

PARKING SPACES

75

LAND DETAILS

LAND ACRES

1.02 AC

LAND SF

44,431 SF

ZONING

C3

APN/PARCEL ID

7160-019-049

ASK ABOUT THIS PROPERTY

Matt McNeillSRS Real Estate PartnersMore Info
760-622-3225

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Matt McNeillSRS Real Estate PartnersMore Info
760-622-3225

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