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Walgreens 5829 Lakewood Blvd 14,418 SF Retail Building Lakewood, CA 90712 $9,837,760 CAD ($682.32 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
Long-Term Absolute NNN Lease – Recent Lease Extension
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
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
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,418 SF
Building Class
B
Year Built
2003
Price
$9,837,760 CAD
Price Per SF
$682.32 CAD
Cap Rate
6.50%
NOI
$639,454 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.32
Lot Size
1.02 AC
Zoning
C3
Parking
75 Spaces (5.2 Spaces per 1,000 SF Leased)
Amenities
- Car Charging Station
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- -
Walgreens began in Chicago in 1901, after pharmacist Charles R. Walgreen Sr. purchased the drugstore where a pharmacy career began. The company grew from a neighborhood drugstore into a broad retail health business offering prescription services, health and wellness products, photo services, home delivery, specialty pharmacy, and virtual healthcare. Walgreens serves customers through a wide network of community pharmacies and digital platforms, with a focus on accessible medicine, everyday essentials, and healthcare support.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | - |
Fairly walkable
50/100
Exceptionally drivable
100/100
Some public transit
50/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 7160-019-049 | Improvements Assessment | $1,938,694 CAD |
| Land Assessment | $3,056,792 CAD | Total Assessment | $4,995,486 CAD |
Property Taxes
Parcel Number
7160-019-049
Land Assessment
$3,056,792 CAD
Improvements Assessment
$1,938,694 CAD
Total Assessment
$4,995,486 CAD
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Walgreens | 5829 Lakewood Blvd
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