Walgreens
585 Gage Blvd, Richland, WA 99352
For Sale
$5,016,000
The NNN lease assigns Walgreens responsibility for taxes, insurance, utilities, and most maintenance and repairs.
Property SizeContact for details
Days on Market11
Property Features for 585 Gage Blvd
General Information
Standard status
Property subtype
Financials
Cap Rate
Gross Income
Tenancy & Operations
Currently Operating
Tenant in Place
Amenities
Lot Size Acres: 1.41
Percentage of Tax that is Deductable: 0
Has Central AC: 1
Sale, Sale Type: Foreclosure
Built in 2005
Building Details
Year Built
Tenancy
Listing Agency:
Pearl Realty, LLC
Listed By:
Joel Pearl · License #DB29302
(208) 762-5500
Source:
Doyle-realty
Added: Oct 30
Changed: Nov 8
Last Checked: Nov 8 at 7:00AM
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 Pearl Realty, LLC
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Investment Insights
Based on property information with market context.
Built in 2005, this Walgreens drugstore is subject to a NNN lease. Walgreens is responsible for property taxes, insurance, utilities, and substantially all maintenance and repairs, including the roof, structure, and parking lot, with limited contractual exceptions. The lease has approximately 8.10 years remaining in its firm term, followed by twelve five-year renewal options. Contractual rent increases are scheduled at 5%, with the next increase in 2027.
The property sits at the intersection of Gage Boulevard and Leslie Road in Richland, directly across from a medical center. Nearby context includes shopping centers, restaurants, professional offices, and residential neighborhoods. Richland is part of the Tri-Cities market, which includes Kennewick, Pasco, and West Richland.
The property sits at the intersection of Gage Boulevard and Leslie Road in Richland, directly across from a medical center. Nearby context includes shopping centers, restaurants, professional offices, and residential neighborhoods. Richland is part of the Tri-Cities market, which includes Kennewick, Pasco, and West Richland.
Key Highlights
- Walgreens drugstore built in 2005
- NNN lease with approximately 8.10 years remaining in the firm term
- Twelve additional five‑year renewal options
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
287
Businesses Nearby
77k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 43%
Dining 23%
Shops & Services 15%
Home Improvements & Furnishings 11%
Safeway
Groceries
33,293 visits/mo
0.2 miles
Speedway
Shops & Services
11,278 visits/mo
0.1 miles
Starbucks
Dining
10,493 visits/mo
0.1 miles
Ace Hardware
Home Improvements & Furnishings
8,311 visits/mo
0.3 miles
Papa Murphy's
Dining
3,564 visits/mo
0.1 miles
Demographics for 99352, WA
35,762
Population
15,522
Households
2.3
Avg Household Size
38
Median Age
48%
College-Educated
96%
High-School Grad
24.0 sq mi
ZIP Area
1,490
Density / Sq Mi
$96,875
Median Household Income
$65,348
Median Earnings
$1,457
Median Rent
$442,100
Median Home Value
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Market
Vacancy Rate% for Retail in West region
Similar Off Market Nearby
- Tim Shockley, RPH — 585 Gage Blvd, Richland, WA 99352
- COVID-19 Drive-Thru Testing at Walgreens — 585 Gage Blvd, Richland, WA 99352
- Hoda Mansourani — 585 Gage Blvd, Richland, WA 993527761
- Rachael Forster — 585 Gage Blvd, Richland, WA 993527761
- Fadi Nassaneh — 585 Gage Blvd, Richland, WA 993527761
Frequently Asked Questions
What type of property is this?
Drug store - The NNN lease assigns Walgreens responsibility for taxes, insurance, utilities, and most maintenance and repairs.
Where is this drug store located?
The property is located at 585 Gage Blvd Richland, WA.
What is the asking price?
The asking price for this property is $5,016,000.
What are key features of this property?
This property features: Walgreens drugstore built in 2005; NNN lease with approximately 8.10 years remaining in the firm term; Twelve additional five‑year renewal options
