6144 Dewey Dr, Citrus Heights, CA 95621

This exceptional investment opportunity presents a single-tenant, Net Leased Walgreens pharmacy located in Citrus Heights, CA (Sacramento MSA). The property boasts a 13,905 square foot building situated on a 1.89-acre lot at the highly visible corner of Dewey Dr and Greenback Ln, experiencing traffic counts exceeding 65,000 vehicles daily. The Walgreens tenant, a credit-rated entity with a corporate guarantee, has occupied this Class A property since January 1, 2000, recently renewing their lease in early 2020 for an additional 10 years, extending the lease term to May 31, 2031. This provides a long-term, secure investment with minimal landlord responsibilities. The property offers a strong 5.69% cap rate on a $8,260,000 asking price, translating to a price per square foot of $519.24. The strong demographics of the area, with a population exceeding 400,000 within a 5-mile radius and an average household income over $107,000, further enhance the investment's appeal. The property features attractive curb appeal and strong frontage, maximizing visibility and accessibility. The Net Operating Income (NOI) is $469,950. The lease includes six, five-year options. This is a rare opportunity to acquire a stable, high-performing investment property anchored by a nationally recognized brand. The property is 100% occupied.