Asking Price
NOI Net Operating Income
Cap Rate
Asking Price
NOI Net Operating Income
Cap Rate

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Attributes

Year Built 2002
Building Area
Land Area ()

Property Description

JLL is pleased to exclusively offer the opportunity to acquire a fee simple, NN-leased Walgreens in Oroville, CA – a ‘City of Gold’ in Northern California. The property is ideally positioned on a 1.70-acre parcel at the signalized intersection of Oro Dam Blvd. and Olive Avenue seeing over 41,000 VPD, with minimal competition in the immediate area. Walgreens, an investment-grade tenant (S&P: ‘BBB/Stable’), has occupied the property since 2002 and currently has 11 years remaining on the primary term of the lease with a rare 3% rent increase forthcoming in 2026.

The property sits at the most sought-after retail intersection within the region, adjacent to the expanding Oroville Hospital campus, offering incredible intrinsic real estate support. This offering presents the rare opportunity for an investor to acquire a well-positioned Walgreens in a growing Northern California city, in the primary regional retail trade area for a surrounding population of over 210,000

Investment Highlights

·       Adjacent to an expanding hospital campus


·       Surrounding population of over 210,000 in a city that sees over 1M annual visitors


·       National investment-grade pharmacy tenant


·       Long-term 11-year net lease structure


·       18-year site operating history with recent lease extension


·       Signalized intersection with over 40,000 VPD

Last Updated Date: 13 Nov 2020
Alex Sharrin
Alex Sharrin
Managing Director, Capital Markets
License details
IL - 475.170243
Alex Geanakos
Alex Geanakos
Director, Capital Markets
License details
475.189621

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Last Updated Date: 13 Nov 2020

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