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  • Sold
Walgreens - Oroville, California - #1
Walgreens - Oroville, California - #2
Walgreens - Oroville, California - #3

Sales Price: $5,475,000
Cap Rate: 6.03%
Guarantor: Investment Grade Credit (BBB)
Term Remaining: 11 years
Rent Increases: 3% in 2026


Over a year long assignment, the family had engaged NLX to assist with their 1031 exchange goals of trading out of a non-performing asset in favor of a steady and reliable income stream. After a few setbacks with the sale of their down-leg, NLX managed to source a Walgreens located outside a hospital in a strong submarket with nominal landlord responsibilities. The family benefited with higher monthly cash flow from an investment grade credit tenant on a long term lease.


"Thank you for all your hard work in helping our family. We couldn't have done it with you!" - Khalid

  • 01/21/2021
  • Adjacent to a recently expanded hospital campus, this Walgreens recently extended the lease for an additional ten (10) years after having been at this location for almost two (2) decades. The lease offers a rare increase during the base term of the lease, with an additional increase in the option periods. The area has just under 10K people in a 1-mile radius and is projected to grow by 1.5% over the next five (5) years. This site in particular benefits from its corner location which see approximately 40K vehicles per day. Sales at this location are above the national average for Walgreens, making this a location that Walgreens will want to keep into the future, as evidenced by their recent lease extension.