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Walgreens 5829 Lakewood Blvd 14,418 SF Retail Building Lakewood, CA 90712 $9,748,916 CAD ($676.16 CAD/SF) 6.50% Cap Rate
Investment Highlights
- Long-Term Absolute NNN Lease – Recent Lease Extension 12 years of term remaining on an absolute NNN lease, with no Landlord maintenance or expense res
- High-Traffic Location Located in a highly trafficked retail corridor at the signalized, hard-corner intersection of Lakewood Boulevard and South Stre
- Walgreens Corporate Guarantee – Excellent Store Sales Walgreens (S&P rating of BB-) reported $147 billion in revenue for 2024 and $81 billion in Asse
Executive Summary
12+ years of term remaining on an absolute NNN lease, with no Landlord maintenance or expense responsibilities
Tenant extended the base term of the Lease in June 2023 adding an additional 10 years to the original term, evidence of Walgreens long-term commitment to this location
Walgreens Corporate Guarantee – Excellent Store Sales
Walgreens (S&P rating of BB-) reported $147 billion in revenue for 2024 and $81 billion in Assets.
High performance location – strong historical Store sales (contact Broker for details)
High-Traffic Location
Located in a highly trafficked retail corridor at the signalized, hard-corner intersection of Lakewood Boulevard and South Street
Combined traffic count at the intersection of Lakewood Blvd and South Street is 58,198 vehicles per day
Strong Demographics | Affluent Trade Area
258,123 residents within a 3-mile radius
Average household income is approximately $128,744 within 1 mile
Strong Retail Synergy
Walgreens is less than ½ mile east of a Walmart Supercenter and a WinCo Foods which ranks in the top 25% of all WinCo locations nationwide in visits according to Placer.ai
Less than 1 mile north of Lakewood Center, a regional shopping mall with over 2 million square feet of retail space, anchored by Costco, Forever 21, JCPenney, Macy’s and Target
Property Facts
Amenities
- Car Charging Station
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
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- Retailer
- -
- -
- -
Walgreens Boots Alliance began with Walgreens, which was founded in 1901 and grew from a neighborhood drugstore into a large pharmacy and retail business. The company was formed later through the combination of Walgreens and Alliance Boots, creating a business with a broad presence in pharmacy retail and health-focused services. Its operations include retail pharmacy, healthcare services, and pharmaceutical wholesale, with digital and in-store offerings that support prescription access, consultations, immunizations, and wellness products. Walgreens Boots Alliance has remained centered on pharmacy-led care while serving customers through a mix of community locations and online channels.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
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Retailer | - | - | - |
Nearby Major Retailers
Property Taxes
| Parcel Number | 7160-019-049 | Improvements Assessment | $1,910,348 CAD |
| Land Assessment | $3,012,099 CAD | Total Assessment | $4,922,448 CAD |
Property Taxes
Presented by
Walgreens | 5829 Lakewood Blvd
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