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Walgreens 2299 Oddie Blvd 14,550 SF Retail Building Sparks, NV 89431 $6,540,000 CAD ($449.48 CAD/SF) 8% Cap Rate
INVESTMENT HIGHLIGHTS
- Walgreens Absolute NNN Leased Investment Zero Landlord Responsibilities
- Long Term Occupancy Since 2009 10% Rent Increase, August 2028 ($412,500.00 annually)
- Five, Ten Year Options to Extend (August 1, 2078)
- Over 8 Years Remaining on Initial Term Ten, Five Year Options to Extend (August 1, 2078)
- Corporate Guaranty Drive-Thru Positioned on Hard Corner Signalized Intersection (39,000 CPD)
- Approximately 2 Miles to Renown Regional Medical Ctr. Approximately 3 Miles to St. Mary's Regional Med. Ctr. 4.5 Miles from Reno-Tahoe International
EXECUTIVE SUMMARY
Introducing a lucrative NNN leased investment opportunity at Walgreens on 2299 Oddie Blvd, Sparks, NV 89431. This prime property boasts a 7.22% cap rate and a $375,000 NOI with over 8 years remaining on the initial 25-year lease term. Plus, the lease offers ten five-year extension options, making it an attractive long-term investment. Strategically located at the bustling intersection of Oddie Boulevard and El Rancho Drive, this property enjoys high visibility with approximately 39,000 vehicles passing by daily. Surrounded by a mix of residential and commercial developments, including the Parq Crossing and a forthcoming multi-family project, it stands as a cornerstone of a thriving community. Additionally, the area's $52 million Oddie/Wells Improvement Project is set to bring 1,500 new residential units, promising further growth and opportunities for investors. Don't miss out on this turnkey investment opportunity in the vibrant Reno/Sparks market. Contact us today to seize the potential of owning a Walgreens-tenanted property with a secure NNN lease.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,550 SF
Building Class
B
Year Built
2009
Price
$6,540,000 CAD
Price Per SF
$449.48 CAD
Cap Rate
8%
NOI
$523,109 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.23
Lot Size
1.43 AC
Zoning
C2
Parking
35 Spaces (6.57 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Bus Line
- Pylon Sign
- Signage
Walk Score®
Very Walkable (72)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 031-012-24 | Improvements Assessment | $915,207 CAD |
| Land Assessment | $372,359 CAD | Total Assessment | $1,287,566 CAD |
PROPERTY TAXES
Parcel Number
031-012-24
Land Assessment
$372,359 CAD
Improvements Assessment
$915,207 CAD
Total Assessment
$1,287,566 CAD
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Walgreens | 2299 Oddie Blvd
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