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    2785 Pinal Ave Casa Grande, AZ 85122

    Sponsored
    For Sale
    $2,400,000

    High-yield Walgreens NNN lease, Casa Grande.

    Property size:
    14,736 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a leasehold interest in a 14,736 square foot Walgreens pharmacy located at 2785 N Pinal Ave, Casa Grande, Arizona, 85122. The property, built in 2008 and situated on a 2.05-acre lot, is a single-story building operating under an absolute NNN lease with a corporate guarantee from Walgreens (NASDAQ: WBA). The lease commenced on November 7, 2014, and extends until November 30, 2039, providing long-term stability and predictable cash flow. The current annual net operating income (NOI) is $177,921, representing a 7.41% cap rate on the asking price of $2,400,000. The tenant is responsible for all property taxes, insurance, maintenance, repairs, and operating expenses, including a $140,000 annual ground rent payment. This investment benefits from Casa Grande's robust growth, projected at over 8% year-over-year population increase and a 53.9% projected job growth over the next ten years. The property enjoys a prime location across from a high-performing Fry's Marketplace, further enhancing its retail synergy. Significant residential development is underway within a 5-mile radius, including nearly 1,500 units at the immediate intersection, promising continued strong demand. This is a rare opportunity to acquire a stable, high-performing asset in a rapidly expanding market.

    Property Features for 2785 Pinal Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    14,736 SF
    Lot Size
    89,298 SF

    Building Details

    Year Built
    2008
    Buildings
    1
    Stories
    1

    HighLights

    • Absolute NNN lease with zero landlord responsibilities; tenant pays all taxes, insurance, maintenance, repairs, operating costs, and a $140,000 annual ground rent.
    • Corporate guarantee from Walgreens (NASDAQ: WBA).
    • High‑growth Casa Grande submarket; over 8% year‑over‑year population growth projected to continue.
    • 53.9% projected job growth in Casa Grande over the next ten years, driven by major companies establishing facilities.
    • Excellent retail synergy; located across from a high‑performing Fry's Marketplace.
    • Significant residential development underway within a 5‑mile radius, including nearly 1,500 units at the immediate intersection.
    Property Profile Location Intelligence

    Current Use by Public Records

    Walgreens Photo Passport Photo Processor Kip A. Goebel, RPh Pharmacy Walgreens Drug Store FedEx OnSite Mailing Service Western Union Money Transfer Service

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Building Supply Dental Office Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Casa Grande
    County
    Pinal
    State
    Arizona
    Longitude
    -111.7577129
    Latitude
    32.9378425

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    FAQs

    What type of property is this?
    Individual retail property - High-yield Walgreens NNN lease, Casa Grande.
    Where is this individual retail property located?
    The property is located at 2785 Pinal Ave Casa Grande, AZ.
    What is the asking price?
    The asking price for this property is $2,400,000.
    What are key features of this property?
    This property features: Absolute NNN lease with zero landlord responsibilities; tenant pays all taxes, insurance, maintenance, repairs, operating costs, and a $140,000 annual ground rent.; Corporate guarantee from Walgreens (NASDAQ: WBA).; High-growth Casa Grande submarket; over 8% year-over-year population growth projected to continue.
    (602) 628-6298
    Request Owner's contact information
    2785 Pinal Ave Casa Grande, AZ 85122
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2785 Pinal Ave Casa Grande, AZ 85122
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