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Walgreens 698 Minot Ave 11,180 SF Retail Building Auburn, ME 04210 $3,133,840 CAD ($280.31 CAD/SF) 7.35% Cap Rate
INVESTMENT HIGHLIGHTS
- The offering is a single-tenant Walgreens store located in Auburn, which is ~30 miles northeast of Portland, ME
- Walgreens executed an early 10-year extension back in 2019, which takes the current term through 05/31/2032
- Minimal landlord expense obligations; the roof was resurfaced in 2025
- Walgreens is currently paying a low base rent of $165,000, and an investor benefits from a contractual rent bump effective 06/01/2027
- There are five, 5-year extension options with 5% rental increases at the start of each option
- This is the only Walgreens store in the city of Auburn, and there is zero national pharmacy competition in the immediate area
EXECUTIVE SUMMARY
Walgreens with longstanding operational history and low in-place rent. The subject property is drive-through enabled, and is located on a signalized intersection with multiple points of ingress and egress. This Walgreens offers a passive income stream with zero national pharmacy competition in the immediate trade area.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
11,180 SF
Building Class
B
Year Built/Renovated
1996/2018
Price
$3,133,840 CAD
Price Per SF
$280.31 CAD
Cap Rate
7.35%
NOI
$230,327 CAD
Tenancy
Single
Building Height
1 Story
Slab To Slab
13’
Building FAR
0.17
Lot Size
1.52 AC
Parking
30 Spaces (2.62 Spaces per 1,000 SF Leased)
AMENITIES
- Pylon Sign
- Drive Thru
PROPERTY TAXES
| Parcel Number | AUBN-000208-000000-000143 | Improvements Assessment | $1,317,921 CAD |
| Land Assessment | $352,483 CAD | Total Assessment | $1,670,404 CAD |
PROPERTY TAXES
Parcel Number
AUBN-000208-000000-000143
Land Assessment
$352,483 CAD
Improvements Assessment
$1,317,921 CAD
Total Assessment
$1,670,404 CAD
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Walgreens | 698 Minot Ave
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