Walgreens Drug Store with
New
For Sale
$4,150,000
115 W 3rd St, Elk City, OK 73644
Freestanding pharmacy and retail building occupied under an absolute NNN lease with multiple renewal options.
Property Size14,568 SF
Lot Size1.74 Acres
Price / SF$284.87
Days on Market3
Property Features for 115 W 3rd St
General Information
Standard status
Active
Size
14,568 SF
Lot size
1.74 Acres
Property subtype
Drug Store
Lease Type
Absolute Net
Site & Location
Corner Location
Yes
Drive-Thru
Yes
Additional Details
Cap Rate
8%
Amenities
Absolute Net-Lease Walgreens 10+ Years remaining on 15 year lease
5.00% Rental Increase April 2027
Zero Landlord Responsibilities
Building Details
Building Size
14,568 SF
Year Built
2005
Buildings
1
Tenancy
Single
Listing Agency:
Marcus & Millichap
(314) 889-2555
Listed By:
Dave Saverin · License #License(s): MO: 2008013520, IL: 475185449, KS: 00249685
(314) 889-2555
Source:
Marcusmillichap
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 1:25PM
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 Marcus & Millichap
Investment Insights
Based on property information with market context.
This freestanding Walgreens drug store was built in 2005 and contains 14,568 square feet on a 1.74-acre parcel. The property includes a drive-through and occupies a hard signalized corner along Route 66. Walgreens executed a new 15-year absolute NNN lease that began March 15, 2022, and runs through March 14, 2037. The lease provides twelve five-year renewal options and includes 5 percent rental increases every five years during the initial term and renewal periods, with no landlord responsibilities described under the lease structure.
The property is located at 115 W 3rd St in Elk City, Oklahoma, approximately 115 miles from the Oklahoma City Metropolitan Statistical Area. Elk City serves as a regional trade center for Western Oklahoma and the Texas Panhandle, with a stated 60-mile trade radius serving more than 50,000 people. The community’s economy includes petroleum, agriculture, wind energy, transportation, tourism, manufacturing, and healthcare.
The property is located at 115 W 3rd St in Elk City, Oklahoma, approximately 115 miles from the Oklahoma City Metropolitan Statistical Area. Elk City serves as a regional trade center for Western Oklahoma and the Texas Panhandle, with a stated 60-mile trade radius serving more than 50,000 people. The community’s economy includes petroleum, agriculture, wind energy, transportation, tourism, manufacturing, and healthcare.
Key Highlights
- 14,568 SF freestanding Walgreens drug store on a 1.74‑acre parcel
- 15‑year absolute NNN lease runs from March 15, 2022, through March 14, 2037
- Twelve five‑year renewal options included in the lease
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
680
Businesses Nearby
66k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 52%
Groceries 18%
Shops & Services 17%
Apparel 5%
Homeland
Groceries
12,167 visits/mo
0.2 miles
SONIC Drive In
Dining
10,527 visits/mo
0.1 miles
Taco Bell
Dining
9,557 visits/mo
0.4 miles
Pizza Hut
Dining
6,300 visits/mo
0.4 miles
Dollar General
Shops & Services
5,135 visits/mo
0.3 miles
Demographics for 73644, OK
14,198
Population
7,256
Households
2
Avg Household Size
36
Median Age
17%
College-Educated
90%
High-School Grad
185.2 sq mi
ZIP Area
77
Density / Sq Mi
$51,774
Median Household Income
$36,620
Median Earnings
$844
Median Rent
$167,300
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Full Blown Nutrition — 113 S Main St, Elk City, OK 73644
- Rodney Skinner — 105 N Main St, Elk City, OK 736444751
- Micah Foale — 105 N Main St, Elk City, OK 736444751
- Homeland Pharmacy — 412 W 3rd St, Elk City, OK 73644
- Gina L. Meador, DPH — 105 N Main St, Elk City, OK 73644
Frequently Asked Questions
What type of property is this?
Drug store - Freestanding pharmacy and retail building occupied under an absolute NNN lease with multiple renewal options.
Where is this drug store located?
The property is located at 115 W 3rd St Elk City, OK.
What is the asking price?
The asking price for this property is $4,150,000.
What are key features of this property?
This property features: 14,568 SF freestanding Walgreens drug store on a 1.74‑acre parcel; 15‑year absolute NNN lease runs from March 15, 2022, through March 14, 2037; Twelve five‑year renewal options included in the lease
