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Walgreens 808 S Duluth Ave 14,259 SF Retail Building Sturgeon Bay, WI 54235 $3,556,969 CAD ($249.45 CAD/SF) 8.75% Cap Rate
Investment Highlights
- 10+ Years Remaining | One-Time 15%+ Rental Increase | Corporate Signed Lease
- Direct Residential Consumer Base | Strong Demographics in 5-Mile Trade Area
- Signalized, Hard Corner Intersection | Drive-Thru Equipped Pharmacy | Excellent Visibility & Access
- Proximity To Door County Medical Center
- Dense Retail Trade Area | Strong National Tenant Presence
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, drive-thru–equipped Walgreens investment property. The tenant, Walgreen Co., has 10+ years of firm lease term remaining, with ten (10) additional five-year renewal options, providing long-term income durability. The lease includes a one-time 15%+ rental increase at the beginning of the first option period, offering a meaningful step-up in NOI and a hedge against inflation. The lease is corporate-signed by Walgreen Co., which operates over 8,500 locations across the U.S. and Puerto Rico and serves nearly 9 million customers daily. In August 2025, Sycamore Partners completed its $23.7 billion acquisition of Walgreens Boots Alliance (WBA), further supporting the tenant’s financial strength. The lease is absolute NNN with zero landlord responsibilities, making this an ideal, management-free investment for a passive investor.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
14,259 SF
Building Class
C
Year Built
2003
Price
$3,556,969 CAD
Price Per SF
$249.45 CAD
Cap Rate
8.75%
NOI
$311,235 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.28
Lot Size
1.19 AC
Zoning
C-1 - General Commercial
Parking
36 Spaces (2.52 Spaces per 1,000 SF Leased)
Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 281-6818000601B | Improvements Assessment | $2,544,484 CAD |
| Land Assessment | $887,836 CAD | Total Assessment | $3,432,320 CAD |
Property Taxes
Parcel Number
281-6818000601B
Land Assessment
$887,836 CAD
Improvements Assessment
$2,544,484 CAD
Total Assessment
$3,432,320 CAD
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Walgreens | 808 S Duluth Ave
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