Exclusively Listed Walgreens For Sale
Introduction to Walgreens NNN Property Leases
There are a few different lease types available for Walgreens investments. For example, Walgreens for sale can have absolute and double net leases where the landlord pays certain expenses. In addition, some fees are reimbursable in certain Walgreens leases where the landlord is responsible for costs.
Typically, Walgreens leases signed during the 90s are double net, and newer ones signed in the early 2000s or after will be absolute net leases. The roof and exterior structure are the main landlord costs without reimbursement for a double-net lease. Other unreimbursed expenses to the landlord, depending on the specific Walgreen lease and Walgreens locations that Walgreens purchased, may have varying lease language.
Walgreens’ lease length typically ranges from 20 to 25 years of firm lease term before the options when they were initially executed and will have five-year or one-year options. Some Walgreens leases, as they mature, may be restructured to have a firm lease term of up to 15 years before the possibilities and may have rental increases. Original Walgreens leases usually do not have rental increases; however, certain ground leases may have rental increases.
The Value of NNN Real Estate Quality for Drugstores
The quality of real estate is typically high for drugstore properties located on primary corners in their respective markets. For example, many Walgreens for sale were built-to-suit buildings, meaning Walgreens selected those specific corners to develop within that market. In addition, drugstores are at signalized crossroads with solid access and good traffic counts, enhancing the quality of the underlying real estate.
Most drugstores’ locations occur in dense markets with strong population counts or at a main intersection serving a larger trade area. Therefore, buildings constructed for Walgreens, CVS, or Rite Aid are usually done by preferred third-party developers if not corporate-owned or produced by preferred general contractors. Thus, allowing for the build-outs of Walgreens, CVS, and Rite Aid properties to be consistent and generally constructed well.
Drugstore buildings for Walgreens, CVS, and Rite Aid usually range from 10,000 square feet up to 17,000 square feet if they are freestanding, and some drugstores that are inline can go up to 25,000 square feet. For freestanding drugstores, the land square footage usually ranges from 60,000 to 120,000 square feet. Most drugstores also have a drive-thru for their pharmacy, and considering the buildings as particular use, they are easily repositioned with new tenants if needed.
Corporate Guarantees and Understanding CAP Rates
Drugstores occupied by Walgreens, CVS, and Rite Aid have leases typically corporately guaranteed, which enhance the value of the property since securing the rental income stream by the parent corporation. However, leases sometimes vary depending on the corporate guarantee language, the purchasing location, the state location where the property is, or when initially signing the lease.
Most drugstore leases will be valued similarly even with varying lease guarantor language; however, there are certain exceptions when the value of the property can be affected by weaker lease guarantor language. For example, Walgreens for sale is usually reasonably consistent if Walgreens executed the original lease. Still, some Walgreens leases vary if Walgreens purchased the location and assumed the lease.
The financial strength and size of the lease guarantor play a significant factor in evaluating the CAP rate of the investment. Certain NNN leases with weaker or unknown financial backing for their lease guarantees will have higher CAP rates. Also, if a franchisee does not corporately guarantee the lease, that may raise the CAP rate. Other factors determining the CAP rate will be lease length, lease type, real estate quality, and rental increases.
An Exclusive Focus on Walgreens
Pharma Property Group is the only national commercial real estate brokerage company focusing exclusively on CVS, Rite Aid, and Walgreens for sale. Due to this unique specialization, Pharma Property Group has a superior understanding of the industry, which gives its clients an advantage over other drugstore buyers and sellers.
Some owners of drug stores for sale wish to refrain from marketing to the open public, and some owners will hire a broker. Since Pharma Property Group is so specialized, they can deliver both exclusively listed Walgreens and off-market Walgreens for sale. This access to off-market Walgreens property for sale that Pharma Property Group possesses comes through years of drugstore dealmaking and relationship-building with Walgreens property owners.
Another advantage to Pharma Property Group’s drugstore specialization is that we make our client’s disposition or acquisition process seamless. Our experience in transacting Walgreens properties allows us to represent buyers at the highest level as we qualify Walgreens investments on the front end of a transaction to avoid any surprises, and we can spot any issues with Walgreens before going into contract. We can also effectively represent Walgreens sellers because we know which buyers are genuine through our years of dealmaking, hundreds of Walgreens property sales, and buyer qualifying processes.
Large Inventory of Walgreens Stores for Sale
Pharma Property Group also carries a large inventory of Walgreens for sale. Any listings they advertise to the open public are exclusively listed, with only Pharma Property Group having the rights to sell that asset.
Pharma Property Group also has established an extensive network within the brokerage community to get complete coverage and provide its buyers with full access to all inventory on the market. In addition, Pharma Property Group relies heavily on its outside broker relationships to sell its exclusive stock and to find its buyer’s additional opportunities to purchase.
We also carry an off-market Walgreens inventory for sellers who do not wish to advertise their property on the open market but are available to review offers. This inventory comes from years of building relationships with Walgreens owners. Our off-market Walgreens properties are qualified deliverable drugstore investments that we vet through our underwriting process before we present them to selected buyers. In addition to our off-market and on-market Walgreens for sale, we are aware of upcoming Walgreens properties and selling portfolios soon, so buyers can plan timing certain 1031 exchanges.
Who buys Walgreens NNN Properties?
There are a variety of buyer types that purchase Walgreens for sale. There are REITs, private investment groups, high net-worth individuals, and families that purchase Walgreens NNN properties. These investors can be located throughout the United States and possibly globally, as Walgreens NNN properties have little management.
Some of these investors may be in 1031 trades and use Walgreens as their replacement properties from a prior real estate sale. Most Walgreens owners have experience owning other NNN property investments or multiple drugstore locations.
Buyers are only sometimes located near Walgreens NNN properties near the Walgreens investment, mainly due to the NNN aspect of the leases and the fact that they are easier to manage from afar. Individual REITs or other institutional owners may own multiple Walgreens locations and other NNN assets, as the financial strength behind Walgreens is considered vital. Some investment groups may have funds or certain monies allocated to purchase Walgreens NNN properties for their investors and assist in managing, financing, and the overall long-term strategy of the Walgreens assets.
Can I own a Walgreens store?
Any qualified investor or group of investors can purchase a Walgreens for sale. If the purchase has financing, the buyer must have a 65% loan-to-value or 35% down for the best loan terms and interest rates. Some lenders will give drugstore buyers up to 70% loan-to-value or 30% down; however, the interest rate or loan terms may not be as favorable as if the buyer had lower leverage.
Most sellers of Walgreens properties will want proof of funds or proof of 1031 proceeds when working with a buyer, especially if the buyer needs to gain experience owning other NNN property investments. There are also more minor ownership interests available for investors wishing to invest with institutions or investment groups that purchase Walgreens properties regularly. Specific REITs specializing in NNN properties will also have Walgreens properties in their portfolios, and investors can indirectly own Walgreens properties through holding shares of the REIT’s real estate portfolio.
Most first-time Walgreens buyers have commercial real estate experience and are in 1031 exchanges. Therefore, these investors will use funds from selling other commercial real estate such as apartments, office buildings, land, or other retail properties to purchase Walgreens as their replacement asset for their 1031 exchange.
How do NNN Lease Owners make money?
Owners of NNN properties receive rental income monthly; their net income after expenses is their profit. If the NNN property has financing, the net income pays down the principal of the loan balance and the loan interest. Walgreens for sale typically have few expenses, so most or all of the gross rental income will become the landlord’s net income, depending on the lease type. For example, if the owner has a double net lease and has specific capital improvements such as roof or parking lot repairs, take expenses out of that calendar year’s rental income.
Owners of NNN properties can also profit from the sale of the investment; however, any gains are subject to taxes. Many investors will perform a 1031 exchange to purchase another NNN property to defer any tax payments. On the other hand, some investors decide to sell their NNN property and cash out to accept the gains to reinvest the money elsewhere, which will cause a taxable event. An investor’s CPA should give any tax advice.
What’s the return on investment for owning a Walgreens for Sale?
Walgreens NNN properties typically have a cash-on-cash return of 3.5% to 7%, depending on several variables and risk factors. CAP rates generally range from 5 CAP to 7 CAP depending on market conditions and interest rates. Walgreens for sale is considered a lower-risk investment due to the credit strength of Walgreens and the minimal management Walgreens leases provide. The longer the lease and less management involved will result in a lower return for a Walgreens investment. Conversely, with shorter terms remaining on their leases, Walgreens, weaker sales volumes, or lesser real estate quality will yield higher returns for property owners.
Returns on Walgreens properties for individual investors by REITs, investment groups, or other institutions will vary depending on management fees or acquisition costs. In addition, returns for investors on Walgreens properties or any other NNN property also rely on the market of the purchased property for interest rates, supply, and demand. As a result, specific real estate cycles may provide higher or lower returns depending on the overall investor appetite for Walgreens at that given time when compared to the demand for other NNN properties or commercial real estate.
How can a real estate broker help me?
When purchasing any NNN property, working with a seasoned commercial real estate broker with experience representing buyers in acquisitions for the specific tenant is essential. For example, Walgreens for sale varies greatly in return levels depending on certain risk factors. Using a commercial real estate broker with experience in drugstore acquisitions will allow a buyer to evaluate return levels for certain drugstores available on the market and ensure that the expected return is favorable for the risk.
There are hundreds of NNN properties on the market at any given time. An experienced NNN broker can narrow down the best opportunities for a buyer and provide off-market properties to review for purchase. One of the central values of a strong NNN broker is that they can deliver to buyers off-market acquisitions opportunities that are not available for sale to the open public and assure buyers of the NNN properties’ deliverability.
Many factors, such as title, environmental, and lease documentation, must be reviewed to ensure that any NNN property purchased has a clean bill of health. A good NNN broker can ensure that properties considered for acquisition are qualified correctly upfront to save time and money for a buyer during their review period.
- According to Placer.ai, this location ranks in the top 7% of Walgreens stores in Georgia and is in the 20% nationwide with over 391,000 annual customer visits.
- Walgreens reports above‑average sales at this location, reinforcing its position as a top‑producing, high‑traffic store within the trade area.
- Constructed in 2012, the store was designated as a Walgreens ‘Well Experience’ location, incorporating an improved floor plan, an upgraded pharmacy model, and expanded product offerings.
- The property is located approximately 36 miles east of Downtown Atlanta and situated along Interstate 20 (63.4K VPD), a major corridor that feeds directly into the city.
- Close proximity to General Mills (400 Employees), Becton Dickinson (700 Employees), Pactiv Evergreen (370 Employees) with ±24.9 million square feet of industrial space in the area.
- Located less than one mile from Piedmont Newton, a 107 bed hospital supported by more than 475 physicians and 650 employees.
- In a 1, 3 and 5-mile radius average household incomes range from $120,000 to $130,000 per household.
- Situated at the crossroads of US-46 and NJ-10, the property benefits from its close proximity to the Christopher Columbus Highway interchange (I-80), with over 114,000 vehicles per day.
- The lease is an absolute NNN lease with zero landlord obligations whatsoever.
- Located less than 4 miles from the property, Saint Clare’s Dover Hospital General is a 24/7 trauma center providing inpatient care and hospitalization services.
- There is more than 2 million square feet of retail space within 1 mile of the property, anchored by Walmart, Home Depot, Petco, Burlington, and Kohl's.
- Walgreens lease runs through October 31, 2032, with no landlord responsibilities.
- In a 1 and 3-mile radius average household incomes are approximately $100,000 per household.
- Located near I-95 Exit 53 and Shore Line East commuter rail station.
- Coastal zoning and built-out conditions restrict new commercial development.
- West Main Street maintains historically low vacancy and strong tenant retention.
- Close to major employment centers including Yale University and Yale-New Haven Hospital.
- The lease is an absolute NNN lease with zero landlord obligations whatsoever and has 5% rental increases every 5 years throughout the first four option periods.
- According to Placer.ai, this location ranks in the top 10% in customer visits for all Walgreens locations in Michigan.
- 4 miles northeast of Ford's Global Headquarters which includes their new, 2.1 million square foot building. 14,000 employees will be within a 15 minute walk of the new location, per Ford.
- 154,000 residents, and 51,000 households within a 3-mile radius of the property.
- Located on the signalized hard-corner of Schaefer Rd and Warren Ave, (46K total VPD). Close proximity to the I-94 connecting Dearborn to Detroit with over 131K vehicles per day.
- In 2022, Walgreens extended its lease out 10 years, showing the tenant's long-term commitment to the location.
- Amplify Tomball (less than 0.5 miles north) and Willow Creek Manor (1.5 miles to the east) are bringing 434 new multifamily units to the immediate neighborhood in 2026.
- Walgreens is paying $25.27/sf in rent, which is in line with the local retail market rents of $26/sf.
- Located in a Houston suburb, the average household income within 1 mile of the property is over $140,000.
- Situated on a signalized hard corner with a combined 47,000 VPD and located less than a mile from the ingress/egress for Tomball Parkway (TX-249) with over 101,000 VPD.
- There is over 3.1 million square feet of existing retail space within 2 miles of the property, with a vacancy rate under 4%.
- Absolute NNN lease through August 31, 2032, with ten (5-year) renewal options and no landlord responsibilities.
- In a 1, 3 and 5-mile radius average household incomes range from $90,000 to $100,000 per household. Positioned along Farmington Avenue (Route 372) with direct access to I-91 and I-84 with ±15,400 vehicles per day.
- Located 12 miles from Hartford, home to major employers such as Travelers, Aetna, The Hartford, and Hartford Healthcare.
- Surrounded by major employers including Eversource Energy, Assa Abloy, Comcast, and others with over 3,000 jobs in the immediate area.
- Proximity to multiple institutions, including Central Connecticut State University in nearby New Britain and the University of Hartford.
- Walgreens lease runs through July 31, 2028, with ten (5-year) renewal options and no landlord obligations.
- Average household income of $117,577 within a 1-mile radius and a population of over 94,000 within 5 miles.
- One of only two CHIPS Zones in the state, providing refundable tax credits for semiconductor-related businesses and reinforcing the area’s economic foundation.
- Surrounded by major employers including Seagate, AMD, Micron, and over 40 tech, aerospace, and hardware companies.
- Walgreens operates on an absolute net lease with no landlord responsibilities whatsoever.
- The property benefits from limited drugstore competition, with the next nearest Walgreens store being a 25-minute drive across the state line, over 8.5 miles away.
- Located across the street from a CVS store and is the last Walgreens leaving Kansas City to the north for over 36 miles and the last Walgreens west of the Missouri River for 132 miles.
- The property is located less than a half mile from Saint John Hospital and Dwight D. Eisenhower VA Medical Center, serving as the closest Walgreens location.
- Situated 4 miles to the north, Fort Leavenworth is the second oldest active U.S. Army post west of Washington D.C., spanning 5,600 acres and home to the United States Army Combined Arms Center.
- Less than a quarter of a mile south, the University of Saint Mary offers more than 30 undergraduate and master's programs.
- The lease is on an absolute net basis with 3.75 years of primary lease term remaining, ten (5-year) options and no landlord responsibilities whatsoever.
- This Walgreens is located directly across the street from CVS, making this a strategic location for both CVS and Walgreens. These are the only two national brand drugstores in Crawfordsville.
- The property is located in the heart of Crawfordsville at the main intersecting roads in the city, North Washington Street and West Market Street with a combined traffic count of approximately 30,000 vehicles per day.
- Two miles south of Franciscan Health Crawfordsville (103 beds) and Wellbrooke Senior Living.
- Listed by Brian Brockman, Bang Realty - Inc, 513-898-1551, wg@bangrealty.com, VA DRE Lic. 225245999.
- Walgreens has been operating at this location since 1999, and in 2019, Walgreens renewed its first 5-year option. In 2024, Walgreens restructured its lease early, extending the firm lease term to 2034.
- Two hospitals totaling 540 beds are both within 2 miles of the property.
- Within 3.5 miles there are currently over 350 new units under construction.
- Situated at a signalized intersection with a combined traffic count of 37,000 vehicles per day.
- There is more than 4.8 million square feet of existing retail space within 2 miles of the property.
- Walgreens operates on an absolute net lease with no landlord responsibilities whatsoever.
- Situated on US-40 / National Road E with estimated 30,000+ vehicles per day.
- No other Walgreens within 12.4 miles; no CVS within 3 miles.
- Approximately 1.9 million sq. ft. of retail within 1 mile, including Walmart, Menards, ALDI, AMC Theatres, Harbor Freight, Tractor Supply, Dillard’s, Dick’s Sporting Goods, and Best Buy.
- Large 1.94-acre site providing strong visibility and access.
- Walgreens operates on an absolute net lease with no landlord responsibilities whatsoever.
- In January 2026, the City of Shawnee approved renovations to the Westbrooke Green Shopping Center, which include a new lease with El Mercado Fresca in the vacant Dillon’s Grocery location.
- Completed in 2022, the Chadwick complex, less than a quarter of a mile north, brought 345 new luxury apartment units to the market.
- 1.5 miles east of the property, Advent Health Shawnee Mission is a 504-bed hospital complex that underwent a $35 million expansion in 2017.
- Located less than one mile south, the Pine Ridge Business Park is a 232-acre campus that has over 5.9 million square feet of industrial and manufacturing space.
- Situated 13 miles from downtown Kansas City, the property has over 213,000 residents within 5 miles, supporting an average household income of $105,506.
- Walgreens will be paying $16.80/sf in rent after the next increase, which is in line with the local retail market of $16-18/sf.
- According to Placer.AI, the property ranks in the top 25% of Walgreens nationwide.
- The property is located a half mile from the University of Memphis main campus, with over 24,000 full-time students and faculty.
- Located 2.5 miles from the property, the FedEx World Hub is the largest sorting facility in the FedEx global network and employs 30,000 people locally, with annual revenues exceeding $45 billion.
- The property has 8.5 million square feet of existing retail space within a 3-mile radius.
- Located 5.5 miles from Downtown Memphis, the property has 101,000 households within 5 miles, with a population exceeding 245,000.
- Absolute triple-net lease with no landlord responsibilities; stable income through January 31, 2034.
- Tyson Foods’ 288,710 SF processing facility (1,500+ employees) and Raytheon’s 407,000 SF manufacturing center. In 2022, Tyson invested $90 million in expanding its facility, resulting in the creation of 320 additional jobs and making it the single largest capital investment in Scott County.
- The investment allows for a significant portion of the purchase price to be recaptured during the initial lease term.
- No other Walgreens within a 32-mile radius; tenant serves as the primary national pharmacy provider in the region.
- Positioned off U.S. Route 80 the property is located just off the main east-west corridor connecting Meridian and Jackson, supporting daily regional traffic.
- The lease is an absolute NNN lease with zero landlord obligations whatsoever with six (5-year) renewal options and 10% rent increases in the first and third options.
- No other Walgreens within 13 miles and no CVS location within 26 miles.
- Closest drugstore to MaineHealth Franklin Hospital, which serves the Greater Franklin County and its 40,000 residents.
- Located on a key north-south corridor leading to Quebec, approximately 80 miles from the Canadian border via Coburn Gore crossing.
- Close proximity to the University of Maine at Farmington, serving 1,837 students and 149 faculty and staff.
- Frontage on Thornton Road (47,300 VPD) and Maxham Road (32,400 VPD).
- Close proximity to Amazon ATL8, Lineage Logistics, GXO Logistics, and Medline distribution centers, with ±24.9 million square feet of industrial space in the area.
- Douglas County is part of Amazon Web Services’ $11 billion investment in Georgia’s cloud and data center infrastructure.
- Absolute triple-net (NNN) lease through September 2028 with ten (5-year) renewal options.
- Thornton Road/State Route 6 serves as the main retail corridor in this market with a strong mix of complimentary national and regional tenants surrounding the subject property.
- Absolute NNN lease with twelve (5-year) renewal options and 5% rent increases in the first four renewal periods.
- Located 0.5 miles from Trinity Health Muskegon Hospital, a 358-bed facility.
- West Shore Plaza, a 959,000-square-foot retail center anchored by Walmart Supercenter, Lowe's, and Sam's Club, is situated approximately one mile to the east.
- Situated along Sherman Boulevard, a primary east-west corridor linking residential areas, retail centers, and medical services across the Muskegon market.
- In March of 2025 GE Aerospace announced they are planning a $70 million expansion at their site in Norton Shores.
- Only freestanding Walgreens property for 5 miles, serving over 140,000 residents with an operating history of 19+ years.
- 3 Mi W of the Fairfax District (527-acre industrial park 10K employees) which is anchored by Kellogg’s and General Motors Assembly Manufacturing Plants.
- Midtown Station- New Development under construction 1 Mi W that includes over 1,500 new residences, 200K square feet of commercial space, a hotel, conference center, and an innovation hub.
- The property has 4.2 million square feet of retail space and over 45 million square feet of industrial space within 4 miles.
- 2.5 miles south of the property, the BNSF Railway Argentine Yard covers 780 acres and is one of the largest and busiest rail yards in the United States. BNSF announced a $3.8 billion capital investment plan for 2025.
- This lease calls for 5% rental increases every 5 years throughout the first four option periods.
- Listed by Brian Brockman, Bang Realty - Inc, 513-898-1551, wg@bangrealty.com, WV DRE Lic. WVB200300608.
- The next nearest Walgreens location is over 15 miles away.
- Less than half a mile from the property, St. Joseph's Hospital is the only level IV trauma center in the county.
- The property is surrounded by national retail tenants such as Walmart Supercenter, Lowe’s, Kroger, and Tractor Supply, and has the only national big-box tenants in a 12-mile radius.
- Located less than 1 mile from West Virginia Wesleyan College.
- The lease is an absolute NNN lease with zero landlord obligations whatsoever
- Since 2017, Toyota has invested over $2.7 billion in plant expansions, including electric vehicle production. Toyota Motor Manufacturing Indiana (TMMI) employs over 7,000 people and has produced more than 6 million vehicles since its inception.
- 'The District' (258 units), is the city's first multifamily housing project in nearly a decade and is located 0.5 mile from the property.
- The property serves as the only Walgreens property in Princeton, with the next closest Walgreens pharmacy 23 miles away.
- Financing available for qualified buyers at 6% interest rate and 70% leverage allowing for a 15%+ cash on cash return ($1,100,000 down payment). Contact broker for details.
- Less than 1 mile from the property, Gibson General Hospital serves as the region’s leading healthcare facility.
- Average household incomes are in the $70,000 to $75,000 range within a 3, 5 and 10 mile radius.
- Walgreens has a history of strong reported sales volumes at this location.
- Less than 1 mile of ThedaCare Regional Medical Center which is the region's largest employer (7,000+ employees, 172 beds).
- Dense retail and industrial trade area with 6.2 million square feet of retail space and 8.3 million square feet of industrial space in a 3-mile radius.
- Located directly across the street from Edenbrook Nursing Home (150 beds) and 0.7 miles from Rennes Health and Rehabilitation Center (88 beds).
- Appleton is the 6th largest city in Wisconsin with a population of 152,000 in a 5-mile radius.
- Located at the signalized hard corner with strong combined traffic count of 30,000 VPD and blocks from Interstate 41 with traffic count of 76,200 VPD.
- Below market seller financing available, contact broker for details.
- Walgreens recently extended their lease in 2023 to a firm 12 years of lease term, showing their commitment to this location.
- Frontage on SW Moreland School Road (9,320 VPD) and MO-7 (25,384 VPD).
- Located in a affluent Kansas City suburb, the average household income in a 1-mile radius is ±$101,000.
- Located 3 miles to the north, St. Mary’s Medical center is a 137-bed acute care facility which has served the community for over 40 years.
- This Walgreens is located across from a CVS making this a strategic market share corner for the two largest national drugstore chains.
- The only occupied Walgreens or CVS pharmacy for over 26 miles away with operating history of 21+ years.
- Labette Health (1.7 mi) a 99-bed hospital serves as the only major hospital system in Parsons and provides services to the six-county area.
- Absolute NNN lease with zero landlord obligations whatsoever, with 5% rental increases in the first four options.
- Located 1.5 miles from the property, Parsons Research Center is a partnership between Kansas State University and federal, state, and county governments conducting research throughout Kansas.
- Adjacent to the property, Labette Community College enrolls over 1,500 students annually.
- Located on the signalized corner of North Trimble Road and Park Avenue West with a combined traffic count of 32,474 VPD.
- The next closest Walgreens and CVS are more than 32 miles away.
- Located near Mansfield Senior High School, which enrolls approximately 825 students.
- The City of Mansfield is executing a phased streetscape and traffic flow improvement project in the downtown area.
- This is the only Walgreens serving the city of Bryan with the next nearest Walgreens property being approximately 15 miles away.
- The city operates two industrial parks which span a total of 168 acres. There is approximately 2.1 million square feet of manufacturing/industrial space within a 2-mile radius of the property.
- Spangler Candy Company (±500 Employees) and Bard Manufacturing (±200 Employees) have both called Bryan home since the 1900s and have played a significant role in the local economy.
- Walgreens firm lease term runs through July 31, 2032 before their first cancellation option. All building and property expenses are paid directly by Walgreens and there are zero landlord responsibilities whatsoever.
- Walgreens is currently paying $16.02/psf, which is in line with current market retail rents of $16-18/psf.
- Open until midnight, capturing extended‑hour foot traffic which contributes to its ranking as the 3rd most‑visited national drugstore chain within a 10‑mile radius (316K annual visits per Placer.aI).
- In 2025, Walgreens waived its 2028 and 2033 termination options, extending the lease expiration to August 31, 2038.
- Rapid residential expansion with 1,900+ new homes planned or underway within 3 miles, supported by ~4.5% annual population growth since 2020—outpacing Ocala—and driven by proximity to The Villages (20 minutes south), a master‑planned retirement community with 140K residents.
- Located 2.5 SE of the property, a proposal for a major big‑box retailer, a gas station, and roughly 22,500 square feet of additional retail and restaurant space is underway. The development will create 400 jobs.
- According to Placer.ai, the store ranks 1st in most visited Walgreens in a 10 mile radius (amongst 6 other Walgreens locations).
- Less than 1 mile from Acension St. Vincent Hospital (500+ beds) and 3.3 miles from Deaconess Gateway Hospital (250 beds).
- 2M SF of retail within a 1 mile radius and less than 2 miles south of Eastland Mall (1M SF).
- Absolute NNN lease with twelve (5-year) renewal options and 5% rent increases in the first four renewal periods.
- Labcorp patient service center operates within the building, generating additional healthcare-related foot traffic.
- Combined traffic count of approximately 25,426 VPD along South Green River Road and Washington Avenue and is less than a mile from SR 66 with 62,961 VPD.
- Evansville employers include Deaconess Health System, Berry Global Group (Fortune 500), Ascension, Old National Bank, and Toyota Motor Manufacturing Indiana.
- Listed by Brian Brockman, Bang Realty - Inc, 513-898-1551, wg@bangrealty.com, IA DRE Lic. B67571000.
- Across the street from the property, Allen Hospital is a 204-bed hospital serving the greater Cedar Valley market.
- There is over 5.8M sf of industrial space within 3 miles of the property, with a vacancy rate below 1%.
- This Walgreens is the only Walgreens north of Cedar River in Waterloo for over 15 miles.
- The lease calls for a 5% increase in the first four options.
- Close proximity to the John Deere Tractor Major Operations Center & Tyson Foods Fresh Meats processing facility.
- The next closest Walgreens is 13 miles away, while the nearest CVS is 15 miles away.
- The investment allows for a significant portion of the purchase price to be recaptured during the initial lease term.
- Situated on ±99,752 square feet (2.29 Acres) of land along NY Route 5.
- Positioned along the area’s primary commercial and commuter corridor with direct visibility and access.
- 1 mile from Lake Erie and near Evangola State Park.
- The only occupied Walgreens or CVS pharmacy for over 18 miles away with operating history of 18+ years.
- There is more than 1.7 million square feet of industrial space within 2 miles of the property, anchored by TG Kentucky, an automotive supplier, employing over 1,100 local residents.
- Less than 1 mile away, Spring View Hospital, a 75-bed full-service facility, serves as a primary medical provider for Marion County and the surrounding central Kentucky region.
- Morris Packaging has committed $60M to develop a 100K sq ft facility to create nearly 300 jobs. Additionally, EPC-Columbia is expanding its manufacturing operation, adding 40k sf to its existing 240k sf facility.
- The lease is an absolute NNN lease with zero landlord obligations whatsoever with 5% increases in the first four options.
- Lebanon Bypass (KY 2154) is being extended from KY 55 to US 68 east of Lebanon. The extension is part of a broader plan to improve connectivity and reduce congestion in the area.
- Over 12 million square feet of industrial space in a 5-mile radius including major companies like Hyundai and FedEx.
- Opposite corner to CVS and next Walgreens 4.4 miles away making this a strategic location for both Walgreens and CVS.
- There are 844 multifamily units within the immediate 1-mile radius.
- Centrally located between three major interstates that connect Shreveport west to Dallas/Ft. Worth, TX, south to Baton Rouge/New Orleans, LA and west to Jackson, MS.
- Within two blocks of the property are located a high school, junior high and elementary school with a combined 2,481 students.
- Just 3 miles west of Shreveport Regional Airport with 560,000 annual passengers.
- The Property is located in a designated Opportunity Zone.
- 0.5 miles from 234-bed Mercy Health Springfield Regional Medical Center.
- Within 2 miles of Wittenberg University (1,254 students) and Springfield High School (1,602 students).
- Fountain Village, a 16-acre housing development which includes 54 single-family homes, and 109 townhomes.
- Located at North Limestone St (±19K VPD) & (±12K VPD) McCreight Ave, a key north–south arterial with direct connectivity to I-70, Springfield’s main interstate access.
- Springfield employment grew 2.3% (Feb 2020–Mar 2024), led by major employers Mercy Health (4,060), Navistar (4,556), and Clark State College.
- Springfield GDP up 6.1% YoY with growth in healthcare, advanced manufacturing, and air mobility.
- The property is the only Walgreens property in Van Buren and the only Walgreens north of the Arkansas River for over 7 miles.
- The property is located adjacent to the Interstate 40 and Fayetteville Road interchange, connecting Oklahoma City to the east and Little Rock to the west, with over 60,000 combined vehicles daily.
- Bekaert Corporation (2 miles east) and Simmons Foods, Inc. (2 miles south), both recently committed over $150 million to expand their manufacturing and distribution centers, adding permanent jobs to the market.
- Located 2.5 miles from the property, Baptist Health - Van Buren is the only major hospital in Van Buren with over 100 licensed beds.
- Under market rent with Walgreens paying $13.89 per square foot.
- Walgreens has been operating at this location since 2000 and in 2019 Walgreens restructured and extended its lease. In 2025, Walgreens renewed its next 5 year option as scheduled.
- The lease features 5% rental increases at each 5 year option period beginning in 2030.
- Located approximately 40 miles from Downtown Houston, the Houston MSA is the fifth-most populous metropolitan statistical area in the United States.
- Close proximity to Interstate 45, which connects Galveston to Houston and then to Dallas, with over 60,000 vehicles per day.
- 1.5 miles south of HCA Houston Healthcare Mainland, a 222-bed hospital.
- Walgreens is paying $12.22/SF which is significantly lower than the national average.
- Walgreens signed a 10-year lease extension in 2019 demonstrating their long-term commitment to the site.
- Located 2 miles East, Prospect Village is a new $375 million mixed-use project featuring retail, multi-family, hospitality, and sports complexes which will support the growth of the area.
- Freeman Hospital West (339 Beds), Freeman Hospital East (72 Beds), Landmark Hospital (28 Beds) and Mercy Hospital Joplin (191 Beds) are all located in a 3 Mile Radius of the Property.
- Located on the intersection of South Main Street and East 20th Street with over 27,000 VPD.
- Walgreens is paying $12.22/SF which is significantly lower than the national average.
- Walgreens signed a 10-year lease extension in 2019 demonstrating their long-term commitment to the site.
- Located 2 miles East, Prospect Village is a new $375 million mixed-use project featuring retail, multi-family, hospitality, and sports complexes which will support the growth of the area.
- Freeman Hospital West (339 Beds), Freeman Hospital East (72 Beds), Landmark Hospital (28 Beds) and Mercy Hospital Joplin (191 Beds) are all located in a 3 Mile Radius of the Property.
- Located on the intersection of South Main Street and East 20th Street with over 27,000 VPD.
Recently Sold Drugstores
- Subject property is located in a two-mile radius of three different hospitals.
- Located in a retail hub with approximately 1.8 million square feet of retail space.
- 50 miles north of Tampa along at the central coast Gulf of Mexico.
- Five mile radius population is 82,480 and household income is $60.598.
- Approx. 13 yrs. of term remaining before 10 (5-year) options, double net lease, landlord responsible for parking only.
- The lease allows for five percent (5%) rental increases in each of the ten (five-year) options.
- The lease structure for this asset does not include a rent holiday.
- Located less than 0.2 of a mile from Russell Medical, a not-for-profit acute care hospital.
- Only national chain drugstore in Alexander City, next nearest Walgreens or CVS over 13 miles away.
- 14+ years of term remaining on an absolute net lease with eleven 5-year options to extend.
- Located in an infill area on main retail corridor leading directly into Downtown Baton Rouge.
- Located on signalized SEC of Florida Blvd. & Lobdell Blvd. with a combined traffic count of ±77,903 VPD.
- Subject property is an outparcel to a 725,000 SF office park on 5.15 acres.
- Dense economic region with 7M square feet of retail space, 3M square feet of office space and 2,600 multi-family units within a 3-mile radius.
- Heavily trafficked intersection with traffic count of over 40,000 vehicles per day.
- Affluent neighborhood with about $140,000 household income within a 1-mile radius.
