WALGREENS

INVESTMENT HIGHLIGHTS

• SPOKANE, WA – Spokane is the second-largest city in Washington, with a population of over 230,000 and serving as the economic and cultural hub of the Inland Northwest. The city is home to several top universities, including Gonzaga University and Washington State University’s Spokane campus, fostering a strong talent pool and innovation-driven economy. Spokane features a diverse job market, with major industries in healthcare, aerospace, manufacturing, and technology. Known as the “Lilac City,” Spokane offers a high quality of life with its blend of urban amenities, affordable cost of living, and abundant outdoor recreation, making it one of the fastest-growing cities in the Pacific Northwest.
• ADDITIONAL BILLBOARD INCOME – This property includes a long-term 19-year billboard lease generating $4,500 in annual rental income, providing passive revenue with no maintenance responsibilities.
• LONG-TERM COMMITMENT – In 2021, the tenant reinforced their dedication to this location by securing a 10-year lease extension, ensuring stability and long-term occupancy.
• NEWLY RESURFACED PARKING LOT – The parking lot was recently resurfaced and restriped, enhancing curb appeal and reducing future maintenance costs.
• HIGH VISIBILITY SITE – This Walgreens is strategically positioned at a signalized intersection with a traffic count exceeding ±49,000 vehicles per day, offering maximum exposure.
• PRIME MEDICAL CORRIDOR LOCATION – Ideally positioned within two miles of Spokane’s leading healthcare institutions, including Providence Sacred Heart Medical Center & Children’s Hospital, MultiCare Deaconess Hospital, Shriners Children’s Spokane, and the VA Medical Center – Spokane. These facilities collectively offer over 1,000 beds and serve more than 250,000 patient visits annually, driving consistent traffic and demand in the area.
• LIMITED NATIONAL PHARMACY COMPETITION – This Walgreens is the only national pharmacy serving Spokane’s Emerson Garfield, West Central, and Audubon-Downriver neighborhoods, providing essential pharmacy services to over 27,000 residents with limited competition.
• INCOME TAX FREE STATE – Washington has one of the nation’s most attractive tax climates, being one of only nine states nationwide with no state income tax.
• SURGING DEVELOPMENT ACTIVITY – Spokane is experiencing rapid expansion, with 34 active commercial developments and at least 22 more in pre-development. This growth includes 1,700+ multifamily units, 2M+ SF of industrial space, and multiple new retail projects, reinforcing Spokane Valley’s strong economic momentum and long-term investment appeal.