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24 Hr Dwntn Walgreens w/ Drive Thru Pharmacy 750 N Virginia St 15,067 SF Retail Building Reno, NV 89501 For Sale

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Investment Highlights

University Corridor / Infill Location
High Yield Net Lease

Potential Covered Land Play

Executive Summary

This is a corporate Walgreens NNN lease with long-term duration to 2064 but subject to rolling 5-year tenant termination options beginning in 2027.
Primary value driver for buyers is whether Walgreens exercises the 2027 termination option or remains in place.
With its prime location, this property offers excellent accessibility and high traffic, making it an attractive option for businesses seeking a vibrant and bustling environment. The proximity to downtown Reno adds to its value, providing easy access to a variety of amenities, dining, and entertainment options.
Furthermore, the area's mixed-use zoning allows for flexible development opportunities, catering to a diverse range of commercial needs. This makes it not only a lucrative investment but also a strategic choice for future growth and expansion.

750 N Virginia-St OM

Property Facts

Sale Type

Investment NNN

Sale Condition

Ground Lease (Leasehold)

Property Type

Retail

Property Subtype

Drug Store

Building Size

15,067 SF

Building Class

Year Built

2002

NOI

$621,660 CAD

Tenancy

Single

Building Height

1 Story

Building FAR

0.20

Lot Size

1.76 AC

Opportunity Zone

Yes

Zoning

MD-UD

Parking

60 Spaces (3.98 Spaces per 1,000 SF Leased)

Frontage

176’ on North Virginia St.

Bus Line

Retailer
-
$9.99
Lorem Ipsum
Jan 0000

Walgreens is a major U.S. pharmacy and retail chain founded in 1901 in Chicago, Illinois. The company operates thousands of locations across the United States, providing prescription medications, over-the-counter drugs, health and wellness products, and convenience items. Walgreens also offers services such as immunizations, health screenings, and photo processing. The company has expanded its healthcare offerings through partnerships and in-store clinics, aiming to integrate pharmacy services with broader health solutions. Walgreens is part of Walgreens Boots Alliance, a global pharmacy-led health and wellbeing enterprise.