Walgreens Investment Opportunity For
For Sale
Contact for pricing
750 NW 119th St, Miami, FL
NNN leased Walgreens with drive-thru in a high-traffic location.
Property Size15,120 SF
Lot Size1.97 Acres
Price / SF$500
Days on Market269
Property Features for 750 NW 119th St
General Information
Standard status
Active
Size
15,120 SF
Lot size
1.97 Acres
Property subtype
RETAIL
Listing Agency:
STREAM Capital Partners
(407) 913-9009
Listed By:
Connor Shell · License #01993313
Source:
Moodyscre
Added: Nov 24, 2025
Changed: Aug 8
Last Checked: Aug 20 at 12:48PM
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 STREAM Capital Partners
Investment Insights
Based on property information with market context.
This property is a retail investment opportunity featuring a Walgreens with a drive-thru pharmacy. The property benefits from a remaining lease term of 11.5 years, with 5% rental increases every 5 years during the base term. Walgreens is rated BBB- by S&P. The location is at the signalized intersection of 119th St and 7th Ave, with a combined daily traffic count of 68,000 vehicles per day. The surrounding area features retailers such as McDonalds, Advance Auto Parts, and 7-Eleven. The property is located in a densely populated market with 192,000 residents within a 3 mile radius. The property size is 15,120 square feet.
Key Highlights
- Investment Grade Credit: Walgreens (BBB- S&P) provides long‑term security.
- Long‑Term Lease: 11.5 years remaining with 5% rental increases every 5 years.
- High Traffic Location: Signalized intersection with 68,000 VPD.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$493,300
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.53%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$9,866,000
$9.9M
Cap Rate 7%
$7,047,143
$7.0M
Cap Rate 9%
$5,481,111
$5.5M
Market Conditions
NOI Build-Up for 15,120 SF
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.
Gross rent
$785.6K $51.96/SF
− Vacancy
−$80.9K −$5.35/SF
EGI
$704.7K $46.61/SF
− OpEx
−$211.4K −$13.98/SF
NOI
$493.3K $32.63/SF
Area
Miami, FL
Vacancy
10.30%
Lease Rate
$51.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$9,866,000
Cap Rate 7%
$7,047,143
Cap Rate 9%
$5,481,111
Alternative Uses
Best Use
Specialty Retail
$10.21M
$8.93M – $11.91M
NOI $714,427 @ 7.0% cap · market cap 9.45%
Second Best
Retail
$7.05M
$6.17M – $8.22M
NOI $493,300 @ 7.0% cap · market cap 6.53%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,821
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in Miami, FL
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Drug store - NNN leased Walgreens with drive-thru in a high-traffic location.
Where is this drug store located?
The property is located at 750 NW 119th St Miami, FL.
What is the asking price?
The asking price for this property is $7,560,000.
What are key features of this property?
This property features: Investment Grade Credit: Walgreens (BBB- S&P) provides long‑term security.; Long‑Term Lease: 11.5 years remaining with 5% rental increases every 5 years.; High Traffic Location: Signalized intersection with 68,000 VPD.
