A Roseurg property that includes a Walgreens pharmacy and a guaranteed yearly income of $565,000 for 18 years can be yours.
It will only cost you $10 million.
That’s the asking price for the 14,550 square-foot property that includes a Walgreens pharmacy at the intersection of northwest Stewart Parkway and northwest Garden Valley Boulevard. Deerfield Partners, a brokerage firm specializing in pharmacies, have listed the site on Loopnet since July of this year.
Broker John Giordani from Deerfield Partners, said even if the property is sold, Walgreens employees and customers should expect no change.
“Walgreens and CVS choose to lease their property instead of owning it,” Giordani said. “The property is owned by a passive investor, who is looking to resell it to another passive investor. Nothing changes with the lease or operation of the drugstore. Once it changes hands, Walgreens will simply start wiring the monthly rent to the new owner.”
The Douglas County Assessor’s website lists Hue Development LLC, of Leawood, Kansas, as the current owners of the property. A representative called Friday morning to confirm the message left by the News-Review on Thursday and hung up. They could not be reached again for comment.
Doug Peters, manager for the Garden Valley Walgreens said he was not aware of the property up for sale.
“As far as I know, it’s business as usual,” Peters said.
Selling points on the Walgreens listing include that 32 percent of nearly residents are 65 and older, the hard-corner location sees nearly 50,000 cars per day and it contains “excellent access with two points of ingress and egress.”
The building on the 1-acre property was built in 2011 specifically for Walgreens and has a total real market value of $2,940,221. The last recorded sale was $8,316,000.