Freestanding Walgreens Drug
For Sale
Contact for pricing
1504 53rd Ave E, Bradenton, FL 34203
An absolute NNN lease provides a corporate tenancy with no landlord responsibilities.
Property Size15,913 SF
Lot Size1.81 Acres
Price / SF$348.20
Days on Market174
Property Features for 1504 53rd Ave E
General Information
Standard status
Active
Size
15,913 SF
Lot size
1.81 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$318,600
Site & Location
Traffic Count
66,600 vehicles/day
Highway Access
Yes
Building Details
Year Built
1997
Buildings
1
Tenancy
Single
Listing Agency:
Current Real Estate Advisors
(516) 428-6050
Listed By:
Alejandro Snyder · License #FL BK3386095
Source:
Crexi
Added: Mar 11
Changed: Aug 30
Last Checked: Aug 30 at 10:36PM
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 Current Real Estate Advisors
Investment Insights
Based on property information with market context.
The property is a freestanding 15,913-square-foot retail building constructed in 1997 on 1.81 acres. Walgreens occupies the building under a recently renewed absolute NNN lease with approximately 13.5 years remaining and no landlord responsibilities. The lease provides 5% rent increases every 5 years and includes 12 five-year renewal options.
Located at 1504 53rd Ave E in Bradenton, the property sits at a signalized intersection carrying more than 66.6K vehicles per day. The surrounding road network connects toward Sarasota, I-75, Tampa, St. Petersburg, Bradenton Beach, and Anna Maria Island. Its position also provides access to other Gulf Coast destinations, including Longboat Key and Siesta Key.
Located at 1504 53rd Ave E in Bradenton, the property sits at a signalized intersection carrying more than 66.6K vehicles per day. The surrounding road network connects toward Sarasota, I-75, Tampa, St. Petersburg, Bradenton Beach, and Anna Maria Island. Its position also provides access to other Gulf Coast destinations, including Longboat Key and Siesta Key.
Key Highlights
- 15,913‑square‑foot freestanding retail building on 1.81 acres
- Walgreens tenancy under a recently renewed absolute NNN lease
- Approximately 13.5 years remaining on the current lease term
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
$209,670
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
3.78%
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%
$4,193,400
$4.2M
Cap Rate 7%
$2,995,286
$3.0M
Cap Rate 9%
$2,329,667
$2.3M
Market Conditions
NOI Build-Up for 15,913 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
$286.4K $18.00/SF
− Vacancy
−$6.9K −$0.43/SF
EGI
$279.6K $17.57/SF
− OpEx
−$69.9K −$4.39/SF
NOI
$209.7K $13.18/SF
Area
Manatee County, FL
Vacancy
2.40%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$4,193,400
Cap Rate 7%
$2,995,286
Cap Rate 9%
$2,329,667
Alternative Uses
Best Use
Specialty Retail
$3.00M
$2.62M – $3.49M
NOI $209,670 @ 7.0% cap · market cap 3.78%
Second Best
Retail
$2.80M
$2.45M – $3.26M
NOI $195,692 @ 7.0% cap · market cap 3.53%
Theoretical Best
Office A
$4.68M
$4.09M – $5.46M
NOI $327,566 @ 7.0% cap · market cap 5.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
66,600 VPD
Traffic count
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
520
Businesses Nearby
71k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 40%
Groceries 37%
Shops & Services 14%
Apparel 5%
Winn-Dixie
Groceries
26,085 visits/mo
0.4 miles
Burger King
Dining
14,434 visits/mo
0.1 miles
Checkers
Dining
8,993 visits/mo
0.1 miles
Dollar General
Shops & Services
7,180 visits/mo
0.3 miles
SUBWAY
Dining
4,816 visits/mo
0.1 miles
Demographics for 34203, FL
39,853
Population
20,709
Households
1.9
Avg Household Size
48
Median Age
26%
College-Educated
87%
High-School Grad
15.5 sq mi
ZIP Area
2,571
Density / Sq Mi
$68,030
Median Household Income
$39,829
Median Earnings
$1,437
Median Rent
$302,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Drug store - An absolute NNN lease provides a corporate tenancy with no landlord responsibilities.
Where is this drug store located?
The property is located at 1504 53rd Ave E Bradenton, FL.
What is the asking price?
The asking price for this property is $5,540,870.
What are key features of this property?
This property features: 15,913‑square‑foot freestanding retail building on 1.81 acres; Walgreens tenancy under a recently renewed absolute NNN lease; Approximately 13.5 years remaining on the current lease term
