For Sale | Former Walgreens 7.45% Cap

Highlights:

• Surrounded by major retailers: Super Target, Walmart, Albertsons, Ross, McDonald’s, Verizon, etc.
• Freestanding high visibility building located at the heart of the primary retail core of the greater trade area
• Beneficial economic development planning and organizational programs has positioned Apple Valley as a proposed market for retailers
• Close proximity to Apple Valley Civic Center
• Lease buyout proposed by Walgreens
• Building is Dark but leased to 7/2029 NNN
• Proposed Lease buyout from Walgreens
• Listing Expired Call owner direct 949-631-2465

Description:

Sale Price: $4,350,000

7.45% Cap Rate

Approx. 5 Years remaining

$324,000 NOI NNN No Landlord responsibilities

Assumable loan: $2,600,000 (10/01/2023 Balance) 4.53% 25/15 payable $16,273 per month

Down Payment: Approx. $1,750,000

LISTING EXPIRED CALLL DIRECT 949-631-2465

PROPOSED LEASE BUYOUT $850,000 FROM WALGREENS

Cash Flow: $128,714.40 per year after debt service

Return: 6.96
% Cash on Cash

Walgreens has proposed a buyout.

The buyout is undetermined, but has been estimated at 60% of the remaining rent obligation of Walgreens. Estimate could be in the $1,000,000 range.

Documents: