Walgreens — Sale in Phoenix, AZ

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Phoenix, AZ 85035

Photos

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Investment Figures

Cap rate
6.91%

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 for sale Walgreens in Phoenix, Arizona. Walgreens is an American pharmaceutical company which operates the largest drug retailing chain in the United States of America. It specializes in serving prescriptions, health & wellness products, health information and photo services. As of 2023, the company operates 8,700 stores in all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. The Phoenix metro consists of Maricopa and Pinal counties, and includes more than 30 incorporated and more than 30 unincorporated towns and cities. As of 2020, Metro Phoenix had 4.8 million residents, making it the nation’s 11th largest metropolitan area. The largest city is Phoenix, which encompasses about 520 square miles and boasts a population of more than 1.6 million. Investment Highlights: • Absolute Triple-Net (NNN) Lease with 1.5 Years Remaining on Lease Term and Multiple Renewal Options • Over 23 Year Operating History - Tenant has Occupied the Site Since 2002 • Depreciable Fee Simple Property • Dense Phoenix Infill with 421,917 Residents within a Five-Mile Radius • Excellent Frontage and Accessibility at the Corner of West McDowell Road and North 43rd Avenue (104,000 Combined Cars per Day) • Situated Immediately Off Interstate-10, a Major Connector for the Phoenix Area with Direct Access to Downtown Phoenix and Phoenix Sky Harbor International Airport • Surrounded by National Retailers: Fry's, Food City, Smart & Final, Pizza Hut, etc. • Corporate Guaranty by Walgreens

Market Context

This retail in Phoenix, AZ is listed for sale. It is offered at an approximate 6.9% capitalization rate, a key benchmark for income-producing retail assets. Compare it against other retail listings for sale in Phoenix, AZ — view the full market.

As of Q1 2026, the Phoenix retail market showed a 4.8% vacancy rate, and average asking rents near $19.00/SF/yr. Source: multiple brokerage reports, Q1 2026.

Tight vacancy keeps competition for quality space elevated.

Retail market FAQ

Is the Phoenix retail market tightening or softening?
Vacancy is around 4.8% (Q1 2026).

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