Walgreens Drug
For Sale
Contact for pricing
1074 Mineral Spring Avenue, North Providence, RI 02904
Corporate-backed retail pharmacy with a double-net lease and scheduled option-period increases.
Property SizeContact for details
Days on Market145
Property Features for 1074 Mineral Spring Avenue
General Information
Standard status
Active
Property subtype
Retail
Site & Location
Corner Location
Yes
Traffic Count
24,000 vehicles/day
Road Access
Yes
Additional Details
Gross Income
$179,933
Building Details
Tenancy
Single
Listing Agency:
Pharma Property Group
(619) 297-0055
Listed By:
Jason Pongsrikul · License #CA 01918332
Source:
Crexi
Added: Apr 10
Changed: Aug 31
Last Checked: Aug 30 at 2:06AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Pharma Property Group
Investment Insights
Based on property information with market context.
This Walgreens drug store is subject to a double-net lease, with the landlord retaining responsibility for the roof and structure. Approximately 3.5 years remain in the current term, followed by seven 5-year renewal options. The lease provides for increases during each remaining option period, and Walgreens has exercised its first option. Lease income is backed by the Walgreens parent company, an S&P BBB-rated Fortune 500 business with more than 9,500 locations.
The property occupies the signalized intersection of Mineral Spring Avenue and Charles Street in North Providence. The intersection carries approximately 24,000 vehicles per day, while Old Louisquisset Pike, identified as Highway 146, is one block away and carries approximately 69,000 vehicles per day. The site is approximately four miles north of downtown Providence and less than four miles from the Rhode Island capital.
The property occupies the signalized intersection of Mineral Spring Avenue and Charles Street in North Providence. The intersection carries approximately 24,000 vehicles per day, while Old Louisquisset Pike, identified as Highway 146, is one block away and carries approximately 69,000 vehicles per day. The site is approximately four miles north of downtown Providence and less than four miles from the Rhode Island capital.
Key Highlights
- Walgreens has exercised its first option; approximately 3.5 years remain in the current lease term
- Seven 5‑year renewal options remain, with increases provided during each option period
- Double‑net lease; landlord is responsible for the roof and structure
Property Analytics
Property Profile
Current Use
Lease Details
24,000 VPD
Traffic count
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
610
Businesses Nearby
67k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 85%
Dining 15%
Dollar Tree
Shops & Services
20,931 visits/mo
0.4 miles
Cumberland Farms
Shops & Services
18,873 visits/mo
0.1 miles
Shell
Shops & Services
12,105 visits/mo
0.2 miles
El Charro
Dining
8,111 visits/mo
0.1 miles
Citizens Bank
Shops & Services
5,175 visits/mo
0.0 miles
Demographics for 02904, RI
31,542
Population
14,483
Households
2.2
Avg Household Size
41
Median Age
32%
College-Educated
88%
High-School Grad
5.2 sq mi
ZIP Area
6,066
Density / Sq Mi
$64,637
Median Household Income
$47,040
Median Earnings
$1,217
Median Rent
$302,200
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
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Similar Off Market Nearby
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- Stop & Shop Pharmacy — 1128 Mineral Spring Ave, North Providence, RI 02904
- COVID-19 Drive-Thru Testing at Walgreens — 1074 Mineral Spring Ave, North Providence, RI 02904
Frequently Asked Questions
What type of property is this?
Drug store - Corporate-backed retail pharmacy with a double-net lease and scheduled option-period increases.
Where is this drug store located?
The property is located at 1074 Mineral Spring Avenue North Providence, RI.
What are key features of this property?
This property features: Walgreens has exercised its first option; approximately 3.5 years remain in the current lease term; Seven 5‑year renewal options remain, with increases provided during each option period; Double‑net lease; landlord is responsible for the roof and structure
