4220 Lexington Ave S - Drug Store FOR SALE


$2,630,000 USD
818-281-7893
4220 Lexington Ave S, Eagan, MN for Sale
$2,630,000 USD
Drug Store - FOR SALE
1/10
null | 9% Cap Rate


OVERVIEW

Freestanding, single-tenant, corporately leased Walgreens, featuring a NNN lease whereby the tenant takes care of all recuring expenses including: base rent, taxes, insurance, utilities, and maintenance. Below Market Rent / Value-Add Opportunity / Priced at Land Value - Current rent ($15.63 PSF) is 30%+ below market rates and the purchase price is near land value. See comp details, page 10. Proven location / Recent lease renewal - Walgreens has been at this site for over 25 years (since 1999) and they’ve renewed their lease multiple times in the past at this location (Dec 2019 & Dec 2024), showing long-term commitment and a strong desire to be at this corner in Eagan, MN Ideal 1031 investment opportunity - Corporate lease with Walgreens Co. - Excellent security and stability Walgreens is the nations leading drugstore chain - Walgreens Boots Alliance (WBA) is a global healthcare, pharmacy, and retail company headquartered in Deerfield, Illinois. Walgreens operates over 12,000 stores across the United States, Europe, and Latin America. Ideally situated at the signalized, hard corner intersection of Diffley Road and Lexington Avenue with over 31,720 vehicles passing by daily Excellent demographics / Highly affluent area - Eagan, MN is one of the most affluent locations in the St. Paul / Minneapolis MSA with an average household income above $154,000 annually, which is significantly above the national average Located near The Mall of America (Largest Mall in USA), and close to International airport and Downtown Minneapolis and St. Paul. Top Retail Corridor / Strong Tenant Synergy - Other national/recognizable tenants at this same intersection include: Cub Foods, Anytime Fitness, Dunn Bros Coffee, Great Clips, Subway, New Horizon Academy, Holiday Gas, etc.

FOR SALE DETAILS

PRICE

$2,630,000 USD

PRICE/SF

$183 USD /SF

CAP RATE

9%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1999

SPRINKLERS

-

PARKING SPACES

70

LAND DETAILS

LAND ACRES

2.46 AC

LAND SF

107,158 SF

ZONING

N/Av, Eagan

APN/PARCEL ID

10-45097-01-010

ASK ABOUT THIS PROPERTY

Nick D'ArgenzioBlvd Real Estate Investment Co.More Info
818-281-7893

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Nick D'ArgenzioBlvd Real Estate Investment Co.More Info
818-281-7893

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.