Available

SoCal Urban Infill in Long Beach — Walgreens sublet to Planet Fitness

5400 Cherry Ave., Long Beach, CA

$6000000 /$120,000

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Available

SoCal Urban Infill in Long Beach — Walgreens sublet to Planet Fitness

5400 Cherry Ave., Long Beach, CA

$6000000 /$120,000

8.00% Beds
9.5
$480,000 NNN
  • $480,000 in annual NNN rent guaranteed by Walgreens for 9.5 years
  • NNN lease with no landlord responsibilities
  • Dense, urban infill with 65,000 residents within one mile
  • 46,000 vehicles per day at intersection
  • Freestanding building with drive-thru
  • Full Walgreens corporate guaranty

This is a unique opportunity to acquire a freestanding Walgreens sublet to Planet Fitness. An investor can enjoy the cash flows and higher yield guaranteed by Walgreens, with the additional security of a subtenant in place. This is a dense, urban infill location with 65,000 residents within one mile. This hard corner location sees 46,000 vehicles per day.

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