CAP Rate: 9.00%
Net Operating Income: $269,504
Lot Size: 2.18 AC
Year Built: 2001
The subject offering is a fee simple interest in an absolute NNN leased Walgreens. There are approximately 3 years remaining on the initial 20 year lease, with the lease calling for zero landlord obligations. The tenant has eight 5 year options to renew. The subject property is well situated nearby Glendale Community College.
Glendale is a city in Maricopa County, Arizona, located about nine miles northwest from Downtown Phoenix. According to the 2015 census, the population of the city is 240,126. Glendale is the sports destination for all of Arizona, as Jobing.com Arena and NHL Coyotes continue to attract fans to new growth in the far western areas of the city. The state-of-the-art University of Phoenix Stadium in Glendale, Arizona has also hosted the Tostitos Fiesta Bowl and BCS Championship games as well as the 2015 Super Bowl.