4249 W Glendale Ave - Drug Store FOR SALE


Phoenix, AZ 85051- North Phoenix
$3,629,630 USD
323-515-8302
4249 W Glendale Ave, Phoenix, AZ for Sale
$3,629,630 USD
Drug Store - FOR SALE
1/14
null | 6.75% Cap Rate

4249 W Glendale Ave
Phoenix, AZ 85051
North Phoenix


HIGHLIGHTS

  • Upcoming Rental Increase: Rent scheduled to increase in July 2026 to $257,750, increasing the Cap Rate to 7.00%.
  • Ranked in the top 5% of Walgreens stores nationwide, according to Placer.ai, demonstrating superior retail performance and operational strength.
  • Dense Trade Area: Surrounded by established residential communities and supported by strong co-tenancy from regional and national retailers.
  • Prime Visibility & Access: Exceptional frontage along Glendale Avenue with convenient ingress and egress and consistent daily drive-by exposure.
  • Corporate Tenant Commitment: Walgreens is a nationally recognized, investment-grade tenant with over 7,000 locations.
  • Long history of financial stability and credit strength.

OVERVIEW

Arbor Realty Capital Advisors, Inc. in association with Peach Properties HM, Inc (“Broker”) is pleased to exclusively present for sale a top-performing Walgreens located at 4249 W. Glendale Avenue in Phoenix, Arizona (the “Subject Property”). According to Placer.ai data, this asset represents one of the strongest locations within the Walgreens national portfolio, underpinned by exceptional traffic counts exceeding 72,000 vehicles per day, high visibility, and a dominant corner position within a mature trade area. The immediate surroundings include dense residential neighborhoods, established national retailers, and a stable, diverse consumer base — all supporting the store’s consistent performance and long-term viability. Walgreens executed a new 15-year absolute NNN lease in July 2021, underscoring its commitment to the site and confidence in its continued success. The lease provides for 5% rent increases every five (5) years throughout both the initial term and each of twelve (12) five-year renewal options, offering investors predictable rent growth and potential income longevity extending up to 75 years. The property currently has over 10.5 years remaining on the base term and is approaching its first scheduled rental increase in July 2026.

FOR SALE DETAILS

PRICE

$3,629,630 USD

PRICE/SF

$240 USD /SF

CAP RATE

6.75%

% 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

2000

SPRINKLERS

-

PARKING SPACES

60

LAND DETAILS

LAND ACRES

2.25 AC

LAND SF

98,010 SF

ZONING

C-2, Phoenix

APN/PARCEL ID

152-01-058

ASK ABOUT THIS PROPERTY

Matthew DobsonArbor Realty Capital Advisors, Inc.More Info
323-515-8302

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Matthew DobsonArbor Realty Capital Advisors, Inc.More Info
323-515-8302

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