900 49th St N
Saint Petersburg, FL 33710
Walgreens · Retail Property For Sale

Long Term Commitment: Walgreens executed a new 15 year Absolute NNN Lease in 2024.
Zero Landlord Responsibilities: Tenant operates under an absolute NNN lease structure, ensuring true passive ownership for investors. All expenses—including taxes, insurance, maintenance, and repairs—are fully covered by the tenant, providing stable income throughout the lease term.
Increases Throughout Lease Term: Lease calls for 5% rental increases every 5 years throughout the base term & option periods providing a hedge against inflation.
Strong Corporate Guarantor: Guaranteed by Walgreens, a leading national pharmacy retailer with over 8,500 locations, providing investors with a reliable and stable corporate-backed lease.
Established Customer Base: The subject location has over 28 years of drugstore operating history allowing for an established customer base.
Well Situated: Strategically positioned along 49th Street North, a primary north–south commercial corridor in St. Petersburg, the property benefits from strong visibility and direct access, with exposure to 23,000+ vehicles per day, supporting consistent customer traffic and long-term tenant demand.
Strong Surrounding Demographics: The property is located within a dense residential trade area with over 290,000 people within a five-mile radius, providing a large and stable consumer base that supports consistent traffic and long-term tenant performance.