Walgreens - Folsom CA

1100 Riley Street, Folsom, CA

$4,687,000

Price

6%

Cap Rate

$381,220

NOI

Overview
Cap Rate
6%
NOI
$381,220
Building Size
14,490 sqft
Lot Area
1.52 acres
Occupancy
100%
Lease Type
Double Net
Year Built
2001
Zoning
C-2PD
Tenancy
Single
Parking Spots
86
Investment Strategy
Core
Description

Opportunity to acquire an established Walgreens located in the City of Folsom, CA, approximately 25 miles northeast of downtown Sacramento (MSA Population: 2,445,000), and centrally located 85 miles from Lake Tahoe and 110 miles to San Francisco.

The ±14,490 sf free standing building with drive-thru was constructed for Walgreens in 2001 on ±1.52 acres. The ±1.52 ac parcel offers excellent street frontage visibility with ±86 parking spaces. Riley St. is a main arterial in Folsom and serves as one of the area’s dominant retail corridors and heaviest traveled arteries connecting to old town historic Folsom.

Highlights
  • Investment Grade Credit: The lease is guaranteed by Walgreens Boots Alliance Inc., (Nasdaq:WBA), investment-grade credit rating S&P:BBB
  • Desirable Northern California Location (Sacramento MSA). Average household incomes over $96k in 1mi and over $131k in 5miles
  • Recently Extended Term. ±6.5 yr. NN lease. 20 yr. operating history at this location
  • New Roof in 2017 - 20 yr. Roof Warranty. Minimal Landlord responsibilities
Documents
Title
WAG_1100_Riley_St._Folsom_OM.pdf
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Location
Gallery