2363 Lindsay Rd Gilbert, AZ 85295-4744

Property Details for 2363 Lindsay Rd

Year built

2001

Construction

CONCRETE

Lot size

2.06 lot acres

Property size

15,120 SF

Zone code

CC

Property type

Drug stores

APN

304-42-820

APU

30442820

Description

This exceptional investment opportunity presents a 15,070-square-foot Walgreens located in Gilbert, Arizona, on a 2.06-acre lot. The property boasts a strong 5.90% cap rate and a substantial net operating income (NOI) of $346,909. Built in 2001, the single-tenant, NNN-leased property features a prominent location at the signalized intersection of East Williams Field Road and South Lindsay Road, benefiting from high visibility and excellent access. The Walgreens lease commenced in November 2003 and has approximately 14 years remaining, with favorable lease terms including 5% rent increases every five years and in each of the twelve, five-year renewal options. The property is strategically positioned within a thriving retail corridor, near major shopping centers such as SanTan Village, SanTan Village Marketplace, and Crossroads Towne Center, offering a diverse mix of retail, office, industrial, and residential properties within a three-mile radius. This prime location within the Phoenix-Mesa-Chandler MSA, a major economic hub with a population exceeding 5.06 million, provides exceptional long-term growth potential. The surrounding area includes numerous big-box retailers, further enhancing the property's value and appeal. This is a rare opportunity to acquire a high-performing, well-located Walgreens property with significant long-term income potential. The asking price is $5,879,814, representing a price per square foot of $390.17.

Location Insight

City

Gilbert

County

Maricopa

State

Arizona

Longitude

-111.772

Latitude

33.3073

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments