Walgreens
- $6,000,000
Walgreens
- $6,000,000
Property Highlights
- Institutional Real Estate Fundamentals in Prime Henderson Location: Situated on the hard corner of S Eastern Avenue and Sunridge Heights Parkway, this asset benefits from high visibility, excellent traffic flow (27,000 VPD), and easy ingress/egress at a signalized intersection. The site is embedded within three of Henderson’s most affluent master-planned communities—Seven Hills, Anthem, and Sun City Anthem—where 1-mile average household income exceeds $147,000, supporting strong daily demand and long-term desirability. This intersection serves as a gateway to these top-tier neighborhoods, anchoring the property’s enduring land value
- Strong Sales Performance with Minimal Local Competition: Unlike most Walgreens locations that face immediate competition from CVS across the street, this property enjoys a 1.4-mile buffer from the nearest competing pharmacy—an uncommon advantage that strengthens customer loyalty and reduces market overlap. The store has performed well historically, supported by limited competition and its placement within one of Henderson’s most dense and desirable retail corridors
- Reliable Passive Income Corporate Guarantee: The lease is backed by Walgreens Boots Alliance (NYSE: WBA) under a modified triple-net structure with zero day-to-day management and only minor roof/structure responsibilities. With six years of primary term remaining and six 5-year renewal options, the lease provides predictable, uninterrupted income totaling $415,000 annually.
- High-Density Residential and Educational Demand Drivers: The property sits within walking distance of three major schools—Coronado High School (3,156 students), Coral Academy (900 students), and Henderson International School (500 students)—creating a built-in daytime population that drives consistent foot traffic. The surrounding 1-mile radius contains 7,689 households with sustained residential growth, enhancing the location’s customer base and further reinforcing its necessity-based use
- Surrounded by Credit Tenants in a Proven Retail Trade Area: Co-tenanted and surrounded by major national brands including Smith’s, Taco Bell, Starbucks, Wendy’s, UPS, Kneaders, and Domino’s, this Walgreens benefits from synergistic traffic and complementary retail anchors. This clustering of daily-needs retailers increases dwell time and repeat visits, making the Walgreens location a prime beneficiary of surrounding traffic and consumer behavior patterns
- Irreplaceable Real Estate with Long-Term Redevelopment Optionality: At 1.55 acres with a 14,490 SF freestanding building, the property offers future redevelopment potential in a core corridor of Henderson. With limited supply and high barriers to entry in this submarket, the real estate value remains resilient. Whether renewed by Walgreens, repositioned for healthcare or QSR, or re-tenanted under a new concept, the land’s intrinsic value makes this a compelling long-term investment
Details
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Price $6,000,000
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Year Built 2001
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Property Type Single Tenant
Additional Details
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Price/SF $414
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Cap Rate 7.00%
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APN 177-36-613-005
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Rentable Area 14,490 SF
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Lot Size 1.55 AC
Address
Open on Google Maps-
Address: 11001 S Eastern Ave
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City: Henderson
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State/county: Nevada
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Zip/Postal Code: 89052
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