Walgreens - Net Lease Property for Sale
Morro Bay, CA
Key Investment Metrics
Price
$5,910,750
Cap Rate
6.0%
Net Operating Income
$354,645
Building Size
23643 SF
Lot Size
23,643 SF
Land Area
2.48 Acres
Remaining Term
11 years
Lease Expiration
06/29/2037
Lease Term
11 years
Lease Commencement
06/29/2026
Lease Type
NN
Tenant Credit
Corporate Guarantee
Year Built
2026
Occupancy
100%
Tenancy
Single
Rent Increases
10% every 5 years
About This Walgreens Net Lease Property
This Walgreens NNN (triple net lease) property is located in Morro Bay, CA and represents an excellent investment opportunity for commercial real estate investors. The property features 23643 square feet of building space and was built in 2026.
With a cap rate of 6.0%, this Walgreens net lease property offers stable income potential. The asking price is $5,910,750, making it an attractive option for 1031 exchange investors seeking quality Walgreens commercial properties.
Why Invest in Walgreens NNN Properties?
- Stable Income: Walgreens net lease properties provide predictable cash flow with minimal landlord responsibilities.
- Strong Tenant: Walgreens is a nationally recognized brand with proven operational success.
- 1031 Exchange Eligible: This property qualifies for 1031 tax-deferred exchanges, allowing investors to defer capital gains taxes.
- Triple Net Lease: The tenant is responsible for property taxes, insurance, and maintenance, reducing landlord obligations.
Morro Bay, CA Market Overview
Located in Morro Bay, CA, this Walgreens property benefits from strong local demographics and market fundamentals. The Morro Bay area offers excellent visibility and accessibility, making it an ideal location for Walgreens operations and a solid investment for net lease property buyers.