| Purchase Price | $4,130,000 |
|---|---|
| Annual Rental Income | $331,000 |
| Cap Rate | 8.01% |
| Lease Term | 11 Years |
| City | Mesa |
"*" indicates required fields
Walgreens – Mesa, AZ (Phoenix MSA)
This Walgreens Pharmacy in Mesa, Arizona represents a top-tier net lease investment opportunity featuring a long-term absolute triple-net (NNN) lease with Walgreens Boots Alliance, a Fortune 500 company and one of the most established retail pharmacy operators in the country. With zero landlord responsibilities, strong real estate fundamentals, and a corporate guarantee, this asset offers a completely passive income stream in a growing and economically dynamic market within the Phoenix Metropolitan Statistical Area (MSA).
Strategically positioned on a highly visible retail corridor in Mesa—Arizona’s third-largest city—this Walgreens location is surrounded by dense residential communities, essential services, and complementary national retailers. As a healthcare-aligned tenant with daily consumer relevance, Walgreens continues to rank as one of the most sought-after tenants in the net lease market.
Tenant Overview – Walgreens Boots Alliance
Walgreens is a household name in U.S. retail and healthcare, operating over 8,000 stores nationwide and serving as a cornerstone in many American communities. As a subsidiary of Walgreens Boots Alliance (NASDAQ: WBA), the company is a global leader in retail pharmacy, health, and wellness. Walgreens locations offer prescription medications, immunizations, personal care items, convenience goods, and more, drawing steady daily traffic from repeat customers.
Walgreens has consistently evolved with the healthcare landscape, introducing services like in-store clinics, digital prescription management, and telehealth capabilities. Its national initiative with VillageMD to provide full-service primary care co-located within retail stores further reinforces its critical role in the healthcare delivery system.
The company maintains strong financial health, a proven operational model, and long-term lease performance across a wide array of markets, making it one of the most reliable tenants in the triple-net space.
Lease Structure – Absolute Triple-Net (NNN)
The Mesa Walgreens property operates under an absolute triple-net lease with no landlord responsibilities. Walgreens is responsible for all aspects of property management, including taxes, insurance, maintenance, repairs, and capital expenditures. This structure allows investors to enjoy 100% passive income with minimal risk.
Key lease features:
This lease structure is highly favorable for 1031 exchange buyers, retirement-driven investors, family trusts, and institutions seeking low-maintenance, stable cash flow anchored by an essential retail use.
Mesa, AZ Market Overview – Phoenix MSA
Mesa is the third-largest city in Arizona and one of the most economically active cities in the Phoenix metro area. Located just 15 miles east of Downtown Phoenix, Mesa has a population of more than 500,000 and is home to major employers, healthcare systems, educational institutions, and expansive residential communities.
The Phoenix MSA is one of the fastest-growing in the United States, driven by population migration, business-friendly tax policies, and an influx of companies in the technology, finance, manufacturing, and logistics sectors. Major corporations—including Intel, Boeing, Amazon, and Apple—have established large-scale operations throughout the region.
Mesa, in particular, has benefited from this growth with a strong increase in housing starts, commercial development, and infrastructure investment. The city is well-connected via U.S. Route 60 and Loop 202, offering access to employment centers across the East Valley and beyond.
Demographics and Economic Drivers
This Walgreens location in Mesa benefits from exceptional demographics and local economic fundamentals that support long-term retail health and prescription demand:
Mesa’s diverse and growing population ensures sustained demand for pharmacy services, immunizations, wellness goods, and over-the-counter medications—making Walgreens a mission-critical daily destination in this submarket.
Retail Corridor and Site Attributes
The Walgreens property is located on a signalized intersection or busy retail corridor within Mesa, offering exceptional visibility, signage, and accessibility. The area is home to a strong mix of residential neighborhoods, commercial developments, and institutional uses.
Site-level features include:
The combination of traffic exposure, community density, and daily need services positions this location for strong long-term performance regardless of broader economic cycles.
Tenant Credit – Walgreens Boots Alliance
Walgreens Boots Alliance provides outstanding lease security through its corporate-guaranteed leases. As one of the most recognized tenants in the STNL investment category, Walgreens has proven resilient through market shifts and continues to outperform as a healthcare-forward brand.
Credit highlights:
The company’s scale, brand value, and healthcare integration provide unparalleled lease durability, making Walgreens one of the safest tenants in commercial real estate.
Investment Highlights
Conclusion
The Walgreens Pharmacy in Mesa, Arizona offers investors a rare opportunity to acquire a hands-off, income-producing asset in a rapidly expanding metropolitan market. With a corporate-backed absolute NNN lease, zero landlord obligations, and a location in a densely populated corridor, this property offers consistent and predictable income backed by a nationally trusted healthcare retailer.
This Walgreens is not only a strong real estate investment but also a strategic long-term hold. Whether you’re looking to preserve capital, defer gains through a 1031 exchange, or diversify your net lease portfolio with a high-credit, essential-use tenant, this property stands out as a dependable performer in a prime Sun Belt market