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Walgreens

1990 Monument Boulevard, Concord, CA, USA
$7,275,000 3.75% Cap 10,000 sq ft Built 2011 Actual Site Photo Print This Page

Location

1990 Monument Boulevard, Concord, CA, USA

Price: $7,275,000
Cap Rate: 3.75%
Net Operating Income: $272,800
Square Footage: 10,000
Lot Size: 0.57 AC
Year Built: 2011

Corporate GuaranteeExcellent Access and VisibilityHigh Income DemographicsInvestment Grade CreditLocated on a Major Commercial ThoroughfareS&P Rated BBBScheduled IncreasesStrong DemographicsTrophy LocationZero Landlord Obligations

The subject property is a 10,000 square foot building, leased to Walgreens (WBA) on an absolute NNN ground lease. The tenant has over 15 years of initial term remaining with 10% increases every 10 years. The asset is well located in the suburban San Francisco Bay Area market. The property includes a drive thru and has excellent access and visibility along Monument Boulevard. The area is heavily trafficked and receives over 33,100 VPD along Monument Blvd and Virginia Lane. The asset is surrounded by major retailers including Costco, FoodMaxx, O’Reilly Auto Parts, McDonald’s, Big Lots, Taco Bell, and many others.

Concord is the largest city in Contra Costa County, California. At the 2010 census, the city had a population of 122,067 making it the 8th largest city in the San Francisco Bay Area. Founded in 1869 as Todos Santos by Don Salvio Pacheco II, a noted Californio ranchero, the name was later changed to Concord. The city is a major regional suburban East Bay center within the San Francisco Bay Area, and is 29 mi (47 km) east of San Francisco.

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