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Walgreens: San Pablo, CA 14280 San Pablo Ave

14,470 SF Retail Building San Pablo, CA 94806 £4,969,919 (£343.46/SF) 5.75% Net Initial Yield

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INVESTMENT HIGHLIGHTS

Walgreens’ NNN lease recently commenced in November 2023 and features ±13.8 years of term remaining
6.9 MSF of retail, 1.9 MSF of office, 10.4 MSF of industrial, and 12,404 multifamily units within a 3-mile radius

Positioned less than 14 miles north of downtown San Francisco
The San Francisco Metropolitan Statistical Area (Population: 4.8M) is a bustling region located in Northern California

EXECUTIVE SUMMARY

CBRE is pleased to exclusively offer for sale the 14,470-square-foot Walgreens situated on 1.37 acres in San Pablo, CA - a component of the San Francisco, CA MSA (Population: 4.8M). Walgreens’ NNN lease recently commenced in November 2023 and features ±13.8 years of term remaining with 5% rent increases every 5 years throughout the term and in each of the twelve 5-year renewal options.

PROPERTY FACTS

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Drug Store

Building Size

14,470 SF

Building Class

Year Built

2010

Price

£4,969,919

Price Per SF

£343.46

Net Initial Yield

5.75%

NOI

£285,770

Tenancy

Single

Number of Floors

Building FAR

0.24

Lot Size

1.37 AC

Zoning

SP2 - San Pablo Ave Specific Plan

Parking

48 Spaces (3.32 Spaces per 1,000 SF Leased)

Frontage

150 ft on International Market Pl

AMENITIES

Drive Thru

Car Charging Station

Retailer
99,999 SF
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Walgreens is a trusted and convenient local health destination that millions of Americans rely on every day. Their founder, Charles R. Walgreen Sr., was known for finding new ways to connect with customers on a personal level and treating each person like a guest in his own home. For over a century, they have expanded that personal connection through their network of neighborhood pharmacies and their innovative health services and products. The foundation for all of this is their trusted pharmacy expertise, and their team members who provide essential care that helps people achieve better health outcomes at an affordable cost.