4315 W Mcdowell Rd, Phoenix, AZ 85035
- Drug stores
- 15,048 SF
- 1.79 lot acres
Current Use by Public Records
- Walgreens Photo / (Bike/Boat/Book/etc) Store
- Walgreens Pharmacy / Pharmacy
- Walgreens / Cosmetic Store
- Western Union / Bank / Credit Union
- Redbox / Cinema / (Bike/Boat/Book/etc) Store
Property Details for 4315 W Mcdowell Rd
- Year built
- 2000
- Construction
- CONCRETE
- Lot size
- 1.79 lot acres
- Zone code
- C-2
- Property type
- Drug stores
- APN
- 103-34-001E
- APU
- 10334001E
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Aug 3, 2023 | $3,400,000 | Wgpxazllc | Auram LLC | Special Warranty Deed | $2.1M · Vantage West Cu |
| Jun 9, 2017 | $3,675,000 | Auraform LLC | Nshf Chester Holding LLC | Grant Deed | — |
| Mar 1, 2017 | $3,684,600 | Nshe Chester Holding LLC | Hq Old Nb LLC | Grant Deed | — |
| Dec 15, 2016 | $3,481,954 | Hq Old Nb LLC | Minnetonka Cap Invs III LLC | Grant Deed | — |
| Aug 10, 2004 | $1,476,798 | Cap Investments V L Minnetonka | Minnetonka Cap Investments III | Warranty Deed · related | — |
| Aug 7, 2002 | $2,683,150 | Minnetonka Capital Inv III | Walgreen Arizona Drug Co | Grant Deed · related | $36.3M · Wells Fargo Bank Northwest Tte |
Description
This exceptional investment opportunity presents a 14,995-square-foot Walgreens pharmacy located at 4315 W McDowell Rd, Phoenix, AZ 85035. The property sits on a 1.882-acre lot and boasts a strong 6.61% cap rate, generating a substantial net operating income (NOI) of $228,069. The property features an absolute triple-net (NNN) lease with a corporate guarantee from Walgreens, providing significant security for investors. The lease commenced on July 30, 2002, and expires on July 31, 2027, with 10-year, 5-year renewal options. Built in 2000, this well-established location benefits from a 100% occupancy rate and a 22+ year operating history. The property enjoys excellent visibility and accessibility at the corner of West McDowell Road and North 43rd Avenue, a high-traffic intersection with a combined 104,000 cars per day. Its strategic location offers direct access to Interstate-10, providing convenient access to downtown Phoenix and Phoenix Sky Harbor International Airport. The property is situated in a densely populated area, with 408,096 residents within a five-mile radius. This is a depreciable fee-simple property offering a compelling combination of strong tenant, high-yield returns, and a prime location within the Phoenix metropolitan area. The asking price is $3,450,000.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $3,900,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,835,000
- 6.5%
- $2,615,000
- 7%
- $2,430,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $5,116,000
- AI Estimate
- $5,037,000
Market price range: $1.77M - $8.30MMarket price range: $1.73M - $8.15M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $4,485,000 Current use
- AUTO REPAIR, GARAGE
- $6,360,000 Change: +42% Conversion: Difficult
- OFFICE BUILDING
- $4,515,000 Change: +1% Conversion: Easy
- MEDICAL BUILDING
- $3,995,000 Change: -11% Conversion: Difficult
- WAREHOUSE, STORAGE
- $3,905,000 Change: -13% Conversion: Difficult
- NEIGHBORHOOD: SHOPPING CENTER
- $3,830,000 Change: -15% Conversion: Moderate
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Location Insight
- Map
- Local Demand
- City
- Phoenix
- County
- Maricopa
- State
- Arizona
- Longitude
- -112.153
- Latitude
- 33.4655
- CBSA code
- 38060
- CBSA name
- PHOENIX-MESA-SCOTTSDALE, AZ METROPOLITAN STATISTICAL AREA
