Walgreens

626 S Clovis Ave, Fresno, CA
Deal Type:
Net Lease
Price:
$10,989,010
Cap Rate:
4.55%
Current Rent:
$500,000
Lease Type:
Triple Net
Landlord Responsibilities:
None
Lease Expiration Date:
Approx. 14 years
Renewal Options:
12, 5-year options
Building Sq. Ft.:
14,405 SF
Rent Increases:
5% every five years, including options
Site Size:
1.71 Acres
  • walgreens stream capital partners
  • walgreens stream capital partners
  • walgreens stream capital partners
  • walgreens stream capital partners

Investment Highlights

  • Extremely attractive assumable debt (3.471% I/O, fixed for 9 years)
  • 5.71% initial Cash on Cash return, increasing to 6.67% at first rental increase
  • Continuous operation at this site since 2001, with a new rare 15 year Absolute NNN lease with 5% rent increases every 5 years throughout the term of the lease, showing commitment to this site
  • The property is located at the hard corner of East Kings Canyon and S Clovis which sees over 35,000 vehicles per day. Major retailers at this intersection include: Vons, Starbucks, Food Max, McDonald’s, Wendy’s, Pizza Hut, Taco Bell, etc.
  • Located in a densely populated area of Fresno with over 100,000 people in a 3-mile radius of the property and a population that has increased by more than 7% between 2020 and 2021

Listing Agents

dean copans stream capital partners

Dean Copans

Managing Director
650 465 3993
Dean@stream-cp.com

Jordan Shtulman

Managing Principal
847 226 4133
Jordan@stream-cp.com

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