Walgreens NNN Property For Sale — Richland, WA · $10.02M
Richland, WA 99352
Rare opportunity to acquire a two-property Walgreens portfolio featuring a Tier 5 store in Richland, WA, and a dominant regional retail site in Clarkston, WA. The portfolio generates $701,040 in combined annual rental income at an approximate 7.00% blended cap rate with approximately 9 years of firm lease term remaining on landlord-friendly NNN lease structures. The Richland asset generates $326,040 in annual rent (6.5% cap rate) and features scheduled 5% rental increases with twelve 5-year options, situated at a prominent hard corner opposite a medical center. The Clarkston asset, built in 2015, generates $375,000 in annual rent (7.5% cap rate) adjacent to Costco Wholesale and Walmart Supercenter on US Route 12. Both properties benefit from Washington State having no personal income tax.
- Address: Richland, WA 99352
- Asking price $10.02M
- 7.00% cap rate
- NOI $701,040
- 9 years remaining
- NNN lease
- Lot size: 2.68 acres
- Rent increases: Scheduled 5% rental increases
- Guarantor: Corporate
Location
This Walgreens property is in Richland, Washington.
Asset type: Retail