Former Walgreens Corner Retail
1101 Atlantic Avenue Atlantic City, NJ 08401
For Sale
$2,300,000
Corner former Walgreens with two drive-thru lanes, multiple access points, and overhead door rear storage.
Property Size11,274 SF
Lot Size1.02 Acres
Price / SF$204.01
Days on Market334
Property Features for 1101 Atlantic Avenue
General Information
Standard status
Active
Size
11,274 SF
Lot size
1.02 Acres
Property subtype
Commercial
Building Details
Year Built
1990
Listing Agency:
Levin Commercial Real Estate,LLC.
Listed By:
Joshua Levin
(833) 740-1234
Source:
Actionplusrealty
Added: Aug 31, 2025
Changed: Jul 28
Last Checked: Jul 29 at 5:09PM
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 Levin Commercial Real Estate,LLC.
Investment Insights
Based on property information with market context.
This former Walgreens offers a built-to-suit, high-volume retail layout in an approximately 11,274-square-foot building on an estimated 1.02-acre corner site. The ground level is approximately 11,000 square feet, supported by rear warehouse/storage access through an overhead door. The building also includes a conveyor system servicing additional second-floor storage.
The site is zoned CBD and is located within an Opportunity Zone. It features two drive-thru lanes, substantial parking, and three points of ingress/egress designed for efficient customer flow and deliveries.
With its existing drive-thru infrastructure, rear storage access, and operational layout, the property is positioned for straightforward repositioning or redevelopment into retail, medical, QSR, urgent care, service, or mixed-use concepts, subject to applicable approvals.
The site is zoned CBD and is located within an Opportunity Zone. It features two drive-thru lanes, substantial parking, and three points of ingress/egress designed for efficient customer flow and deliveries.
With its existing drive-thru infrastructure, rear storage access, and operational layout, the property is positioned for straightforward repositioning or redevelopment into retail, medical, QSR, urgent care, service, or mixed-use concepts, subject to applicable approvals.
Key Highlights
- Former Walgreens built in 1990 with an 11,274 SF building on 1.02 acres
- Corner site in an Opportunity Zone with CBD zoning
- Two drive‑thru lanes plus three points of ingress/egress for customer flow and deliveries
Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $243.5k | $21.60 |
| − Vacancy | −$11.0k | −$0.97 |
| EGI | $232.6k | $20.63 |
| − OpEx | −$58.1k | −$5.16 |
| NOI | $174.4k | $15.47 |
11,274 SF · lease $21.60/SF/yr · vacancy 4.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.49M
$2.18M – $2.91M
NOI $174,420 @ 7.0% cap · market cap 7.58%
Second Best
Retail
$1.55M
$1.35M – $1.81M
NOI $108,315 @ 7.0% cap · market cap 4.71%
Theoretical Best
Warehouse
$4.20M
$3.67M – $4.90M
NOI $293,885 @ 7.0% cap · market cap 12.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- Crystal Industrial Chemicals — 112 Park Pl, Atlantic City, NJ 08401
- AtlantiCare Regional Medical Center Dialysis — 1925 Pacific Ave, Atlantic City, NJ 08401
- Vadim Poznyak — 1723 Pacific Ave, Atlantic City, NJ 084016808
- Rakesh Kundalia — 1502 Atlantic Ave, Atlantic City, NJ 084017011
- Emilia TLC Wellness & Beauty — 30 Stanton rd, Atlantic City, NJ 08401
Frequently Asked Questions
What type of property is this?
Drug store - Corner former Walgreens with two drive-thru lanes, multiple access points, and overhead door rear storage.
Where is this drug store located?
The property is located at 1101 Atlantic Avenue Atlantic City, NJ.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Former Walgreens built in 1990 with an 11,274 SF building on 1.02 acres; Corner site in an Opportunity Zone with CBD zoning; Two drive‑thru lanes plus three points of ingress/egress for customer flow and deliveries
