Walgreens Pharmacy Santa Cruz, California • Prime, irreplaceable San Francisco Bay Area real $13,100,000 estate • Unique opportunity to own an entire city block in a community where it has historically been very difficult to develop 5.00% • 21+ years of guaranteed cash flow • Dense urban infill location (24,535 people in 1 mile) CAP Rate • Investment grade Walgreens corporate credit and guarantee • Two tenant deal offers rent increases and some upside in the near-term John Giordani Art Griffith DeerfieldPartners (415) 685-3035
[email protected] Walgreens Pharmacy Santa Cruz, California Investment Summary Price $13,100,000 CAP Rate 5.00% Annual Income $654,982 Years Guaranteed 21+ years guaranteed by Walgreens (Saturn Cafe expires 3/30/2022) About This Investment Opportunity This is an extremely rare opportunity for an investor to not only own a fee-simple Walgreens property in Santa Cruz, but to own an entire city block in downtown Santa Cruz. Unique construction, excellent location, great traffic counts and high identity signage. Santa Cruz has a virtual lockdown on national retailers in the downtown area, it’s a wonder they were able to develop this site. This is truly irreplaceable real estate. This store is situated on an entire city block, and boasts tremendous visibility, as almost all tourist traffic heading to the beaches comes right by this site on the way in to Santa Cruz and on the way back out. Additionally, the store benefits by offering customers rare, on-site parking in the downtown commercial district. Great Demographics, Excellent Visibility and Ample Parking 1 Mile 3 Mile 5 Mile Population 24,535 83,132 112,864 Avg.