Cap Rate: 6.29%
Net Operating Income: $390,000
Lot Size: 1.17 AC
Year Built: 2006
The subject property is a 14,490 SF building, leased to Walgreens (WBA) on an absolute NNN lease. The lease calls for zero landlord obligations. The asset is well located in Sacramento, California.
The site is well positioned on a major commercial thoroughfare and receives over 52,400 VPD along 24th Street and Florin Road. The site is located between both Interstate 5 and State Highway 99, the most highly trafficked thoroughfares in the county. The pharmacy is equipped with a double-lane drive-thru offering ease for customers. The property also benefits from its close proximity to downtown Sacramento. The site is located directly across from Florin Plaza and Florin Square. Neighboring tenants include Walmart Neighborhood Market, The Home Depot, Smart & Final, Dollar Tree, and more.
Sacramento, capital of the U.S. state of California, lies at the confluence of the Sacramento River and American River. The district of Old Sacramento harkens back to the city’s Gold Rush era, with wooden sidewalks and wagon rides. One of several museums in Old Sacramento, the California State Railroad Museum depicts the construction of the Transcontinental Railroad, one of the country’s earliest technological feats.