8405 Pacific Ave Tacoma, WA 98444-6466

This exceptional investment opportunity presents a fee-simple Walgreens located at 8405 Pacific Ave, Tacoma, WA 98444, in Pierce County. The property boasts a 14,168 square foot building on a sizable 1.46-acre lot, offering ample parking with 72 spaces. Built in 1997 and zoned C-2, this single-tenant retail property is currently 100% occupied by a credit-rated Walgreens under a Net Lease (NNN) agreement with a corporate guarantee. The lease commenced on May 2, 1997, and has a remaining term of approximately 5.7 years, expiring July 31, 2030, with six 5-year renewal options. The current asking price is $2,877,000, translating to a price per square foot of $203.06 and a compelling 9.00% cap rate based on a Net Operating Income (NOI) of $258,947. The property benefits from a new 20-year roof installed in 2020, and a 10-year lease extension was exercised in 2020. This location is further enhanced by the proximity of a newly constructed 80-unit apartment complex. The property's strong tenant, long lease term, and attractive financial metrics make it an ideal addition to any diversified investment portfolio. APN: 9704201188.