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Walgreens - Corporate Absolute NNN Lease 1880 E Irvington Rd 14,490 SF Retail Building Tucson, AZ 85714 $5,339,275 CAD ($368.48 CAD/SF) 8.85% Cap Rate
Investment Highlights
- Corporate-guaranteed absolute NNN lease with zero landlord responsibilities
- Surrounded by daily-needs retail including Fry’s Food & Drug, Food City, Ace Hardware and mor
- 25-year operating history at location
- Convenient access to Tucson International Airport and Interstate 10.
Executive Summary
Investment Highlights
Corporate-guaranteed absolute NNN lease with zero landlord responsibilities
25+ year operating history
Outparcel to Irvington Plaza, a ±54,480 SF shopping center anchored by Goodwill and
O’Reilly Auto Parts
Signalized corner location with ±56k VPD, across from multiple established retail centers
The Property features ±14,490 SF of improvements on ±1.7 acres, including a drive-thru and
a parking area with ±75 spaces
Market Highlights
Situated in an established Tucson submarket with strong residential density with a population
of over 89,310 within a 3-mile radius
Retailers at this intersection serve as primary options within a 5-mile residential corridor
Surrounded by anchored shopping centers featuring a mix of national, regional, and local
retailers
Located within 1 mile south of a dominant retail corridor featuring Costco, Walmart
Supercenter, Bass Pro Shops, and Dave & Buster’s
Near Tucson International Airport (2.5 miles north)
Convenient access to I-10 (1.2 miles north), a key thoroughfare connecting to greater Tucson
Note: Tenant pays Arizona’s Transaction Privilege Tax (TPT) of ~ $898.38/month in addition to base rent of $28,980/
month, for a total monthly payment of ~ $29,878.38 to the landlord. The landlord remits the tax to the State/City, which is
currently~ $926.33/month. TPT may vary per year, any shortfall is subject to reimbursement by the tenant per the lease.
Rent tax is a pass-through expense and is not included in NOI.
Corporate-guaranteed absolute NNN lease with zero landlord responsibilities
25+ year operating history
Outparcel to Irvington Plaza, a ±54,480 SF shopping center anchored by Goodwill and
O’Reilly Auto Parts
Signalized corner location with ±56k VPD, across from multiple established retail centers
The Property features ±14,490 SF of improvements on ±1.7 acres, including a drive-thru and
a parking area with ±75 spaces
Market Highlights
Situated in an established Tucson submarket with strong residential density with a population
of over 89,310 within a 3-mile radius
Retailers at this intersection serve as primary options within a 5-mile residential corridor
Surrounded by anchored shopping centers featuring a mix of national, regional, and local
retailers
Located within 1 mile south of a dominant retail corridor featuring Costco, Walmart
Supercenter, Bass Pro Shops, and Dave & Buster’s
Near Tucson International Airport (2.5 miles north)
Convenient access to I-10 (1.2 miles north), a key thoroughfare connecting to greater Tucson
Note: Tenant pays Arizona’s Transaction Privilege Tax (TPT) of ~ $898.38/month in addition to base rent of $28,980/
month, for a total monthly payment of ~ $29,878.38 to the landlord. The landlord remits the tax to the State/City, which is
currently~ $926.33/month. TPT may vary per year, any shortfall is subject to reimbursement by the tenant per the lease.
Rent tax is a pass-through expense and is not included in NOI.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,490 SF
Building Class
B
Year Built/Renovated
2002/2013
Price
$5,339,275 CAD
Price Per SF
$368.48 CAD
Cap Rate
8.85%
NOI
$472,526 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
1.70 AC
Zoning
C-1 - Commercial
Parking
75 Spaces (5.18 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Signage
- Signalized Intersection
- Drive Thru
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 140-16-011B | Improvements Assessment | $0 CAD |
| Land Assessment | $0 CAD | Total Assessment | $141,186 CAD |
Property Taxes
Parcel Number
140-16-011B
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$141,186 CAD
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Walgreens - Corporate Absolute NNN Lease | 1880 E Irvington Rd
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