Walgreens - Two Property Portfolio

Newmark is pleased to present two single-tenant, absolute net Walgreens assets in Washington’s Puget Sound region available together or separately. Both properties are corporate guaranteed, absolute net leases with no landlord responsibilities and a blended WALT of approximately 6 years. Each property features an attractive assumable, fixed-rate, interest-only loan.

Combined, the properties total 28,470 SF generating $906,000 in in-place NOI, priced at a blended 8.23% cap rate. The $9,565,000 in combined assumable debt carries a blended 4.32% fixed rate at approximately 86.9% loan-to-value, requiring $1.49M of equity and produces a blended Year-1 levered cash-on-cash return of approximately 32.9%, offering a rare combination of passive, corporate guaranteed income and strong current yield.