292 Los Altos Pkwy Sparks, NV 89436-7708

This exceptional investment opportunity presents a 13,302 square foot Walgreens located at 292 Los Altos Pkwy, Sparks, NV 89436, within the Reno MSA. The property boasts a strong 7.00% cap rate and a long-term, absolute NNN lease with Walgreens, a creditworthy national tenant, extending until April 30, 2035, with a remaining term of 10.4 years. The lease includes built-in rent bumps of 5% every 5 years, providing consistent income growth. Situated on a 1.77-acre lot, this single-tenant retail property benefits from excellent visibility on a signalized corner with high daily traffic counts of 22,765 vehicles. The property is surrounded by other national retailers, including Costco, Walmart, and Best Buy, indicating a strong retail environment. The location enjoys a high average household income of $106,273 within a one-mile radius. Built in 2006, this property offers a secure investment with significant upside potential, given the projected 52% job growth in the Reno MSA over the next decade. The asking price is $4,634,743, and the net operating income (NOI) is $324,432. Please note that certain property details, including rentable area, lot size, lease terms, and building specifications, are estimates and should be verified during due diligence.