Mesa, Arizona – Net Lease Properties has information from the great State of Arizona. An Investor purchased the leasehold interest of a Single-Tenant Walgreen’s in Mesa, Arizona. The purchase price was $1,625,000.
The approximately 15,000 square foot Walgreens store sits on approximately 2 acres of a Safeway anchored shopping on the “hard corner” of Power and McKellips Road in the City of Mesa.
This is a very strong location, it was on the most desirable corner of the highly trafficked intersection across from such retailers as Target, McDonald’s, and a Home Depot Net Lease Investment. The intersection of Power Road and McKellips provides for an average daily traffic count of more than 65,000 cars. The combination of the location, Walgreens’ stellar credit rating, and the above market yield made this acquisition a strong addition to any Portfolio.
The Buyer was a Southern California based private investor. The acquisition enabled the investor to achieve an annual cash-on-cash return of more than 19%, with an annual equity yield of 23%, it has been told.
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List of other Retail Single Tenants that may be available as a Net Lease Property:
•AutoZone Net Lease Property
•Burger King Net Lease Property
•CVS Net Lease Property
•FedEx Net Lease Property (Federal Express Net Lease Property)
•Home Depot Net Lease Property
•Kohl’s Net Lease Property
•Kroger Net Lease Property
•Lowe’s Net Lease Property
•McDonald’s Net Lease Property
•Publix Net Lease Property
•Safeway Net Lease Property
•Staples Net Lease Property
•Target Net Lease Property
•Walgreens Net Lease Property
•Wal-Mart Net Lease Property
•Wendy’s Net Lease Property