3425 Middle Rd - Drug Store FOR SALE


Bettendorf, IA 52722- Outer Davenport/Bettendorf
$4,584,040 USD
786-522-7013
3425 Middle Rd, Bettendorf, IA for Sale
$4,584,040 USD
Drug Store - FOR SALE
1/4
null | 7.5% Cap Rate

3425 Middle Rd
Bettendorf, IA 52722
Outer Davenport/Bettendorf


HIGHLIGHTS

  • Walgreens Corporate Guarantee (NYSE: WBA)
  • Absolute NNN Lease | Zero Landlord Responsibility
  • Strong Unit Performance | In the Top 36% of The Walgreens Chain as per Placer.AI
  • Excellent Visibility & Multiple Points of Ingress/Egress
  • Located Across a Highly Trafficked Hy-Vee Grocery Store
  • Affluent Demographics | $106,348+ Avg. Household Income in 1-Mile Radius

OVERVIEW

Marcus & Millichap is pleased to present for sale this Absolute Net Leased Walgreens located at 3425 Middle Road in Bettendorf, Iowa, part of the DavenportMoline-Rock Island Metropolitan Statistical Area (MSA) with a total population of 379,374. The subject property consists of a 15,120 SF free-standing building with a drive-thru, situated on a large 3.25-acre parcel of land in a highly visible and well-trafficked location. Strategically positioned along Middle Road, the area’s major thoroughfare, the property benefits from excellent visibility and high traffic counts. The site is directly across from Hy-Vee Grocery Store and surrounded by key national retailers, including Starbucks, Subway, Advance Auto Parts, Taco Bell, Burger King, Valvoline, Burger King, Arby’s, Aldi, and many more. Additionally, the property is located within close proximity to major educational institutions and healthcare facilities, including St. Ambrose University (2,747 students), Augustana College (2,446 students), University of Iowa Health Care, and Genesis HealthPlex. The average household income within a one-mile radius exceeds $106,348, reflecting the strong economic demographics of the area. This Absolute NNN Lease requires zero landlord responsibility, making it a passive investment opportunity backed by a Walgreens corporate guarantee (NYSE: WBA). The current lease term runs through January 31, 2027, and has ten (10) fiveyear renewal options, providing long-term stability. Walgreens Boots Alliance (NASDAQ: WBA) operates over 12,700 stores across all 50 U.S. states, the District of Columbia, Puerto Rico, and Guam, along with worksite health centers, home care facilities, and specialty and mail service pharmacies. In fiscal year 2024, the company reported $147.7 billion in revenue reflecting continued strength in its healthcare and retail segments.

FOR SALE DETAILS

PRICE

$4,584,040 USD

PRICE/SF

$303 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Freestanding, Storefront, Department Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2000

SPRINKLERS

-

PARKING SPACES

45

LAND DETAILS

LAND ACRES

3.25 AC

LAND SF

141,570 SF

ZONING

C

APN/PARCEL ID

842203301

ASK ABOUT THIS PROPERTY

Ronnie IssenbergMarcus & MillichapMore Info
786-522-7013

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Ronnie IssenbergMarcus & MillichapMore Info
786-522-7013

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