808 S Duluth Ave - Drug Store FOR SALE


Sturgeon Bay, WI 54235
$2,580,000 USD
312-279-5342
808 S Duluth Ave, Sturgeon Bay, WI for Sale
$2,580,000 USD
Drug Store - FOR SALE
1/9
null | 8.75% Cap Rate

808 S Duluth Ave
Sturgeon Bay, WI 54235


HIGHLIGHTS

  • 10+ Years Remaining | One-Time 15%+ Rental Increase | Corporate Signed Lease
  • Proximity To Door County Medical Center
  • Direct Residential Consumer Base | Strong Demographics in 5-Mile Trade Area
  • Dense Retail Trade Area | Strong National Tenant Presence
  • Signalized, Hard Corner Intersection | Drive-Thru Equipped Pharmacy | Excellent Visibility & Access
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, drive-thru–equipped Walgreens investment property. The tenant, Walgreen Co., has 10+ years of firm lease term remaining, with ten (10) additional five-year renewal options, providing long-term income durability. The lease includes a one-time 15%+ rental increase at the beginning of the first option period, offering a meaningful step-up in NOI and a hedge against inflation. The lease is corporate-signed by Walgreen Co., which operates over 8,500 locations across the U.S. and Puerto Rico and serves nearly 9 million customers daily. In August 2025, Sycamore Partners completed its $23.7 billion acquisition of Walgreens Boots Alliance (WBA), further supporting the tenant’s financial strength. The lease is absolute NNN with zero landlord responsibilities, making this an ideal, management-free investment for a passive investor.

FOR SALE DETAILS

PRICE

$2,580,000 USD

PRICE/SF

$244 USD /SF

CAP RATE

8.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2003

SPRINKLERS

-

PARKING SPACES

36

LAND DETAILS

LAND ACRES

1.19 AC

LAND SF

51,836 SF

ZONING

C-1

APN/PARCEL ID

281-6818000601B

ASK ABOUT THIS PROPERTY

Dan ElliotSRS Real Estate PartnersMore Info
312-279-5342

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Dan ElliotSRS Real Estate PartnersMore Info
312-279-5342

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