Walgreens Properties For Sale
Walgreens is one of the largest pharmacy store chains in the United States, offering a wide range of pharmaceutical services, health and wellness products, and convenience items. As a net lease investment, Walgreens properties are known for their prime locations, long-term leases, and strong corporate backing.
Properties Available
61
Average Cap Rate
7.7%
Based on 61 properties with cap rates
Highest Cap Rate
12.0%
Total Portfolio Value
$271,861,469
Looking for a net lease property?
Tell us your target price range, preferred states and tenants, and purchase timeline. Include any exchange deadline so the team understands your search. For a specific listing, use its inquiry form to request availability, lease details, and offering materials.
Share your buying criteria61 PropertiesShowing all available properties
Walgreens
$125,939
8 years
Walgreens
$199,802
4.9 years
Walgreens
$200,000
8 years
Walgreens
$224,595
6.2 years
Walgreens
$220,000
4.4 years
Walgreens
$175,500
12.9 years
Walgreens
$350,000
2.7 years
Walgreens
$344,499
1.1 years
Walgreens
$242,240
12.1 years
Walgreens
$305,000
3.7 years
Walgreens
$320,000
34.5 years
Walgreens
$214,500
12.2 years
About Walgreens Net Lease Properties
Walgreens is one of the largest pharmacy chains in the United States, operating roughly 8,000+ stores that combine prescription services with front-of-store convenience retail. For net-lease investors, Walgreens is a benchmark credit tenant: stores sit on hard corners in dense trade areas, leases run long, and rent is backed by the corporate parent, Walgreens Boots Alliance.
With an average cap rate of 7.7%, Walgreens properties offer attractive returns for investors seeking reliable income streams. The 61 available Walgreens properties represent a total portfolio value of $271,861,469 across 25 states.
Walgreens net lease key facts
- Sector
- Pharmacy
- Typical lease structure
- Predominantly triple net (NNN) with the tenant responsible for taxes, insurance, and maintenance. Older stores may carry limited landlord roof-and-structure obligations, so review the specific lease.
- Typical lease term
- Original terms of 20-25 years, frequently with multiple 5-year renewal options. Many assets trade with 10-15 years of remaining term.
- Credit & guaranty
- Backed by Walgreens Boots Alliance, historically an investment-grade credit. Recent store-optimization programs make remaining term and location fundamentals especially important to underwrite.
Why Invest in Walgreens Properties?
Strong Tenant Credit
Walgreens properties are backed by a creditworthy tenant with a proven business model, reducing the risk of lease defaults and ensuring consistent rental income for property owners.
Triple Net Lease Structure
Most Walgreens properties feature NNN lease structures where the tenant pays property taxes, insurance, and maintenance costs, providing truly passive income for investors.
Long-Term Lease Terms
Walgreens locations typically feature lease terms of 10-20 years with rental escalations built into the agreement, protecting investors against inflation and providing predictable long-term income.
Prime Real Estate Locations
Walgreens properties are strategically located in high-traffic areas with strong demographics, ensuring property value appreciation and tenant success over time.
Walgreens Property Investment Insights
Investors considering Walgreens net lease properties should understand the key metrics that drive value in this asset class. Cap rates for Walgreens properties currently range from 5.3% to 12.0%, with pricing ranging from $970,000 to $16,000,000.
The Walgreens properties available on our platform are located across AL, AR, CA, CT, FL and 20 other states, offering geographic diversification for investors building a net lease portfolio. Each listing includes detailed property information, financial metrics, and location data to help you make informed investment decisions.
Whether you are a first-time net lease investor or an experienced commercial real estate professional, Walgreens properties offer a compelling combination of tenant quality, lease structure, and return potential. Contact us today to learn more about specific Walgreens investment opportunities or to schedule property tours.
Walgreens properties by state
- Walgreens for sale in Alabama
- Walgreens for sale in Arkansas
- Walgreens for sale in California
- Walgreens for sale in Connecticut
- Walgreens for sale in Florida
- Walgreens for sale in Georgia
- Walgreens for sale in Illinois
- Walgreens for sale in Kansas
- Walgreens for sale in Kentucky
- Walgreens for sale in Maine
- Walgreens for sale in Maryland
- Walgreens for sale in Michigan
- Walgreens for sale in Minnesota
- Walgreens for sale in Missouri
- Walgreens for sale in Nebraska
- Walgreens for sale in New York
- Walgreens for sale in North Carolina
- Walgreens for sale in Ohio
- Walgreens for sale in Oklahoma
- Walgreens for sale in Oregon
- Walgreens for sale in South Carolina
- Walgreens for sale in Tennessee
- Walgreens for sale in Texas
- Walgreens for sale in Virginia
- Walgreens for sale in West Virginia
Walgreens net lease FAQs
- How many Walgreens properties are for sale?
- There are currently 61 Walgreens net lease properties for sale on Top Net Lease, with an average asking cap rate of 7.7%.
- What cap rate do Walgreens net lease properties trade at?
- Walgreens NNN properties typically trade in the 5.5%-7.5% cap rate range, with lower rates for stores that have long remaining lease terms in strong markets and higher rates for shorter-term or secondary-market locations.
- How long are Walgreens leases?
- Walgreens signs long-term leases, historically 20-25 years of primary term with several 5-year renewal options, so most listings offer a decade or more of remaining term.
- Who is responsible for property expenses on a Walgreens lease?
- Most Walgreens leases are triple net (NNN), meaning the tenant pays property taxes, insurance, and maintenance. Always confirm any landlord roof-and-structure responsibility in the specific lease.
Popular Walgreens Property Searches:
Walgreens for sale, Walgreens NNN property, Walgreens net lease investment, Walgreens commercial real estate, Walgreens triple net lease, buy Walgreens property, Walgreens cap rate, Walgreens sale leaseback, Walgreens ground lease, Walgreens 1031 exchange property