Walgreens NNN Lease Investment
For Sale
Contact for pricing
1130 Foxworthy Ave, San Jose, CA
NNN leased Walgreens with 13 years of primary term.
Property Size14,852 SF
Lot Size1.26 Acres
Price / SF$534.94
Days on Market271
Property Features for 1130 Foxworthy Ave
General Information
Standard status
Active
Size
14,852 SF
Lot size
1.26 Acres
Property subtype
RETAIL
Listing Agency:
CP Partners
(650) 445-4490
Listed By:
Rachel Kram · License #01894341
Source:
Moodyscre
Added: Nov 24, 2025
Changed: Aug 14
Last Checked: Aug 21 at 7:59AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CP Partners
Investment Insights
Based on property information with market context.
This property features a single-tenant net-leased Walgreens, constructed in 2012, with a drive-thru pharmacy. The lease is structured as NNN, with the tenant responsible for all taxes, insurance, and maintenance, excluding roof and structure. The property is located in San Jose, CA. The lease has approximately 13 years of primary term remaining, with options to extend to a total of 75 years. The tenant has an investment grade credit rating of "BBB" by S&P. The property size is 14,852 square feet. The lease includes 10% rental increases every 10 years.
Key Highlights
- STNL Walgreens with investment grade credit tenant rated “BBB” by S&P
- 13 years of primary lease term remaining** with a total 75 year lease
- NNN lease - tenant responsible for all taxes, insurance, and maintenance (excluding roof and structure)
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$444,446
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.59%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$8,888,920
$8.9M
Cap Rate 7%
$6,349,229
$6.3M
Cap Rate 9%
$4,938,289
$4.9M
Market Conditions
NOI Build-Up for 14,852 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$623.8K $42.00/SF
− Vacancy
−$31.2K −$2.10/SF
EGI
$592.6K $39.90/SF
− OpEx
−$148.1K −$9.98/SF
NOI
$444.4K $29.92/SF
Area
San Jose, CA
Vacancy
5.00%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$8,888,920
Cap Rate 7%
$6,349,229
Cap Rate 9%
$4,938,289
Alternative Uses
Best Use
Specialty Retail
$6.35M
$5.56M – $7.41M
NOI $444,446 @ 7.0% cap · market cap 5.59%
Second Best
Retail
$5.73M
$5.01M – $6.69M
NOI $401,175 @ 7.0% cap · market cap 5.05%
Theoretical Best
Office A
$8.97M
$7.85M – $10.46M
NOI $627,870 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
521
Businesses Nearby
80k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 56%
Dining 25%
Apparel 19%
Dollar Tree
Shops & Services
31,006 visits/mo
0.4 miles
Goodwill
Apparel
15,198 visits/mo
0.2 miles
Denny's
Dining
10,403 visits/mo
0.3 miles
Dunkin' Donuts
Dining
9,572 visits/mo
0.1 miles
76
Shops & Services
7,907 visits/mo
0.1 miles
Market
Vacancy Rate% for Retail in San Jose, CA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
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- CVS — 1405 Foxworthy Ave, San Jose, CA 95118
- CVS Pharmacy — 1405 Foxworthy Ave, San Jose, CA 95118
- Pavan Patel — 1405 Foxworthy Ave, San Jose, CA 951181119
Frequently Asked Questions
What type of property is this?
Drug store - NNN leased Walgreens with 13 years of primary term.
Where is this drug store located?
The property is located at 1130 Foxworthy Ave San Jose, CA.
What is the asking price?
The asking price for this property is $7,945,000.
What are key features of this property?
This property features: STNL Walgreens with investment grade credit tenant rated “BBB” by S&P; 13 years of primary lease term remaining** with a total 75 year lease; NNN lease - tenant responsible for all taxes, insurance, and maintenance (excluding roof and structure)
