Santa Clarita, CA
- Walgreens signed a new 15-year lease with 5% increases every 5 years.
- Southernmost Walgreens location in Santa Clarita Valley, 1 of only 4 Walgreens serving over 221,345 residents.
- Los Angeles County is the most populous county in the United States with over 9.7 million residents as of 2023.
- Approximately 28,000 households in the immediate 3-mile trade radius, with an average household income of over $100,000.
- Located off I-5 (180,000 VPD) on a highly visible signalized intersection with over 63,000 vehicles daily.
We are pleased to market the Walgreens property at 24790 Valley Street in Santa Clarita, California ("The Property") for sale. Walgreens has been operating at this location for over 14 years and signed new 15-year absolute net lease with no landlord responsibilities whatsoever, demonstrating their long-term commitment to the site. The lease includes 5% rental increases every 5 years in the initial term and each of the 12 (5-year) options.
This Property offers investors the opportunity to acquire a recently extended Walgreens property in a market with limited Walgreens competition. The Property is the southernmost Walgreens location in Santa Clarita Valley, with the next closest store over 3.6 miles to the north. There are only 4 Walgreens locations in Santa Clarita, the 3rd largest city in Los Angeles County. Additionally, the Property is strategically located 1.25 miles from the Lyon Ave/Pico Canyon Rd exit on Interstate 5, providing direct access into downtown Los Angeles, with over 180,000 vehicles per day.
The Property is the closest Walgreens Pharmacy to Henry Mayo Newhall Hospital, with over 357 beds, and Atria Santa Clarita Assisted Living Facility, providing a stable customer base for the property's pharmacy segment. The Walgreens Property benefits from its dense and affluent immediate trade radius with 28,000 households in the immediate 3-mile trade radius, with the average household income over $100,000. Situated on the signalized hard corner of Valley Street and Lyons Avenue, the Property is visible to over 63,000 vehicles daily.
