Walgreens Abs Nnn Lease W No Pharmacy Competition And… — Sale in Federal Way, WA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Federal Way, WA 98003

Investment Figures

Cap rate
8.75%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Brown Retail Group of Marcus & Millichap has been selected to exclusively market for sale a 5+ Year Absolute NNN Walgreens in Federal Way, WA (Seattle-Tacoma MSA). The property has 5+ years remaining on an absolute NNN lease and six, 5-year renewal options. The lease is corporately guaranteed by Walgreens Boots Alliance, Inc, now owned by Sycamore Partners, which manages over $11B in committed capital. Walgreens has occupied this location since 2004 (21+ years) and benefits from no pharmacy competition within 2 miles. The property is shadow anchored by a top 10% ranked Safeway grocery store (910,000+ annual visits) and adjacent Valley Harvest International Market (500,000+ annual visits), driving strong and diverse traffic flow. Situated at the signalized intersection of Military Road S and S 288th Street, the property benefits from over 33,000 vehicles per day with excellent visibility and access. The area demographics are robust with approximately 230,000 residents within five miles and average household incomes exceeding $100,000. The rent increases 13% in 2031 in the next lease renewal option, boosting investor returns to an attractive 9.92% cap rate. Investment Highlights: • 5+ Year Absolute NNN Lease with Zero Landlord Responsibilities • Strong Corporate Guarantee • Solid Historical Occupancy + Early Lease Extension • No Pharmacy Competition • Grocery Shadow Anchored by Nationally Top 10% Ranked Safeway • High-Traffic, Signalized Hard Corner Location (33,000+ VPD) • Densely Populated Submarket • Attractive 13% Rent Increase in 2031

Market Context

This retail in Federal Way, WA is listed for sale. It is offered at an approximate 8.8% capitalization rate, a key benchmark for income-producing retail assets. It has been on the market for 100 days. Compare it against other retail listings for sale in Federal Way, WA — view the full market.

Contact

Explore this market

Similar Retail Business for Sale in Federal Way, WA