2785 Pinal Ave Casa Grande, AZ 85122

Property Details for 2785 Pinal Ave

Year built

2008

Construction

CONCRETE

Lot size

2.04 lot acres

Property size

14,736 SF

Property type

Retail space

APN

504-31-7040

APU

504317040

Description

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.

Location Insight

City

Casa Grande

County

Pinal

State

Arizona

Longitude

-111.758

Latitude

32.9379

CBSA code

38060

CBSA name

PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA

Property Tax & Assessments