Walgreens — Sale in Deerfield Beach, FL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Deerfield Beach, FL 33442

Photos

Walgreens — Sale in Deerfield Beach, FL, photo 1 of 2
Walgreens — Sale in Deerfield Beach, FL, photo 2 of 2

Investment Figures

Cap rate
6.45%

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

Marcus & Millichap is pleased to present the opportunity to acquire a 16,510-square-foot Walgreens located at 120 South Powerline Road in Deerfield Beach, Florida. The property is situated on approximately 2.3 acres and is offered at $9,000,000, representing a 6.45% cap rate on current annual NOI of $580,000. Walgreens operates under an absolute NNN lease with approximately 11 years remaining through October 31, 2037, providing investors with a passive ownership structure and zero landlord responsibilities. The lease is backed by a corporate Walgreens guaranty. Walgreens has operated at the location since the lease commenced in October 2012. In addition to the remaining initial lease term, the lease includes 50 successive one-year renewal options, providing the potential for a long-term income stream. The property features a freestanding, drive-thru drugstore positioned on an oversized parcel, offering substantial underlying land acreage relative to the building footprint. The property is positioned along the Powerline Road corridor in Northern Broward County, with access to both I-95 and the Florida Turnpike. The surrounding trade area includes a concentration of national retailers and daily-needs destinations, with nearby retailers identified in the OM including Target, Publix, Aldi, Sprouts Farmers Market, Ross Dress for Less, Hobby Lobby, Petco, Starbucks, Chick-fil-A, Burlington and Five Below. The location benefits from a dense surrounding population, including approximately 137,156 residents within three miles and 345,174 residents within five miles. The surrounding demographics further support the location, with 2025 average household income of $107,584 within five miles, projected by the OM to increase to approximately $122,118 by 2030. Combining a corporate-guaranteed absolute NNN lease, approximately 11 years of remaining term, a sizable 2.3-acre South Florida parcel and a dense Broward County trade area, the offering provides investors with a long-term n

Market Context

This retail in Deerfield Beach, FL is listed for sale. It is offered at an approximate 6.5% capitalization rate, a key benchmark for income-producing retail assets. Compare it against other retail listings for sale in Deerfield Beach, FL — view the full market.

Estimated Price per SF

$172.06/SF – $1,251/SF

Mid: $521.40/SF

About 8 in 10 recent recorded sales fell within a range this wide around the estimate. An automated estimate, not an appraisal.

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