Walgreens

275 Rainier Avenue S, Renton, WA
Deal Type:
Net Lease
Price:
$7,790,000
Cap Rate:
5.00%
Current Rent:
$389,340
Lease Type:
Triple Net
Lease Term:
13 years
Landlord Responsibilities:
None
Renewal Options:
Twelve, 5 Year Options
Building Sq. Ft.:
13,905 SF
Rent Increases:
5% every 5 years (Initial Term and Options)
Site Size:
1.50 Acres

Investment Highlights

  • Property located on a hard-corner signalized intersection with nearly 60,000 VPD at intersection in a dense retail trade area in Renton, WA
  • Due to the strength of this location Walgreens executed a brand new 13-year lease with increases throughout initial term and options | Inflation Hedge
  • Investment offers an investor ZERO landlord responsibilities with NO management required
  • Densely populated location with over 295,000 residents and household incomes over $112,900 within a 5-mile radius
  • Nearby National Retailers include: Fred Meyer, Safeway, Walmart, Chipotle, Chick-fil-A, 7-Eleven, Taco Bell, Tesla

Listing Agents

Connor Shell

Managing Director
407 913 9009
connor@stream-cp.com

Dean Copans

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

Jordan Shtulman

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

Association with Scott Reid & ParaSell, Inc. | A Licensed Washington Broker #21245

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