Absolute NNN Walgreens Listing Details & Market Data

1995 W State Route 89 A, Sedona, AZ 86336

  • For Sale $7,087,727
  • Property Type Retail - Freestanding
  • Property Size 17,505 SF
  • Lot Size 1.95 Acre
  • Property Tenancy Single Tenant
  • Year Built 1997
  • Date Updated Apr 11, 2024
CENTRAL SEDONA LOCATION WITH EXCELLENT VISIBILITY ALONG THE “HIGHWAY OF WONDERS” The Walgreens is located on a hard corner with frontage along Arizona State Route 89A, Sedona’s main commercial corridor with average daily traffic counts of 30,329. This is the key artery of the Verde Valley connecting Flagstaff to Prescott and named one of the most beautiful drives in America. LOCATED IN ONE OF AMERICA’S PREMIER TOURISM, RECREATION, AND RETIREMENT CENTERS The primary industry and economic engine of Sedona is tourism, with nearly 3 million tourists visiting each year generating over $1 billion in economic activity and making it second only to the Grand Canyon as a tourist destination in Arizona.First Commercial Real Estate is proud to exclusively offer an Absolute NNN Walgreens Pharmacy. Positioned as an exceptional opportunity for retail investors, this 17,505 SF free-standing building, built in 1997, offers a rare opportunity in the sought-after Sedona area. Boasting rare 5% rent bumps every 5-years, this property represents a compelling investment with over 28 years of operational history. The well-maintained building showcases modern design, drive-thru access, and ample parking, ensuring an inviting and convenient shopping experience for customers. With a strategic location on a signalized hard corner with frontage on Sedona's main commercial corridor and strong rental history, this property presents a lucrative prospect for investors seeking a stable and high-performing retail asset in the vibrant Sedona market.

Want more info on this listing?

Reach out to the broker for more info on lease terms and amenities

Attachments

Highlights

  • RARE WALGREENS LEASE WITH RENT INCREASES: The Lease provides 5% fixed rent increases every 5-years during the primary term and the 12, 5-year option periods.
  • 11+ YEARS LEFT ON 15-YEAR ABSOLUTE NNN LEASE: The subject property operates under a new Absolute NNN Lease with no Landlord management or maintenance responsibilities whatsoever.
  • INVESTMENT GRADE CREDIT TENANT: Rent is guaranteed by Walgreens Corporate, a Fortune 500 company boasting an S&P credit rating of BBB and a ±$31 billion market cap.
  • CRITICAL DRIVE-THRU LANE: Drive-thru lanes proved to be critical for retailers through the pandemic, and as total sales volume for restaurants, pharmacy and bank properties last year hit a record $12 Billion, the interest in drive-through real estate has exploded.
  • AFFLUENT LOCATION WITH EXCELLENT DEMOGRAPHICS: The average household income within a 1-mile radius is $92,922 and increasing to $103,469 within a 5-mile radius

Contacts

broker

Ben Rishwain

First Commercial Real Estate

(209) 461-6400

Location

Getting Around

  • Walk Score ®

    Somewhat Walkable (66)
  • Bike Score ®

    Very Bikeable (74)
Powered by Walk Score ®
  • City Sedona, AZ
  • Neighborhood Sedona
  • Zip Code 86336

Points of Interest

  • Conoco

    0.07 miles

  • Arco

    0.08 miles

  • Shell

    0.59 miles

  • Speedway

    0.94 miles

  • 76

    1.76 miles

  • Circle K

    5.44 miles

  • Chevron

    5.88 miles

  • Speedway

    6.01 miles

  • Tesla Supercharger

    6.32 miles

  • Chevron

    9.61 miles

  • Sugar Loaf

    0.77 miles

  • Airport Saddle Trailhead

    0.98 miles

  • Thunder Mountain Trailhead

    1.14 miles

  • Andante Trailhead

    1.27 miles

  • Tlaquepaque Parking

    1.75 miles

  • Lot 2

    1.94 miles

  • Parking lot 1

    2.01 miles

  • Parking Lot 4

    2.07 miles

  • Girdner Trailhead

    2.21 miles

  • Herkenham

    2.21 miles

  • Domino's

    0.12 miles

  • Coffee Pot Restaurant

    0.13 miles

  • Oak Creek Brewing Company

    0.23 miles

  • Red's at Sedona Rouge

    0.26 miles

  • Pisa Lisa

    0.27 miles

  • Conscious Meals

    0.28 miles

  • West Side Deli

    0.32 miles

  • Los Rosales

    0.33 miles

  • Dahl & Di Luca

    0.34 miles

  • Tortas De Fuego

    0.35 miles

  • Natural Grocers

    0.06 miles

  • Bashas'

    0.22 miles

  • Safeway

    0.33 miles

  • Whole Foods Market

    0.57 miles

  • The Shops at Hyatt Piñon Pointe

    1.86 miles

  • C-Market

    1.96 miles

  • Clark's Market & Pharmacy

    6.08 miles

Contact Listing Broker

broker

Ben Rishwain

First Commercial Real Estate

(209) 461-6400