Single-Tenant Walgreens
158 Main St North Reading, MA 01864
158 Main St, North Reading, MA, 01864
Contact for pricing
For Sale
Contact for pricing
Absolute triple-net Walgreens occupied since 2008, with 8+ years remaining and renewal options on a corner parcel.
Property Size14,500 SF
Price / SF$419.92
Days on Market133
Property Features for 158 Main St
General Information
- Standard status
- Active
- Size
- 14,500 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2008
Listing agency
Horvath & Tremblay
Listed by
Bob Horvath · License #CT 756500
Source
Crexi
Added: Mar 11 Updated: Jul 20 at 6:54PM Checked: Jul 20 at 6:54PM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
Horvath & Tremblay presents the exclusive opportunity to acquire a single-tenant, absolute triple-net leased Walgreens at 158 Main Street in North Reading, Massachusetts. The property has been occupied by Walgreens since it was constructed in 2008 and is supported by an absolute triple-net lease with 8+ years remaining, along with fifty (50) one-year renewal options.
The building is positioned on a highly visible corner parcel at the signalized intersection of Main Street (MA Route 28) and MA Route 62. The property provides three points of access and benefits from strong frontage and visibility along Main Street.
The Walgreens is located approximately 0.7 miles from Stop & Shop anchored Atlantic Plaza and 0.7 miles from Walmart anchored North Reading Plaza. It is also about 1.6 miles from MA Route 125 and 2 miles from Interstate 93, with North Reading Middle and High Schools located roughly 2 miles from the property.
The building is positioned on a highly visible corner parcel at the signalized intersection of Main Street (MA Route 28) and MA Route 62. The property provides three points of access and benefits from strong frontage and visibility along Main Street.
The Walgreens is located approximately 0.7 miles from Stop & Shop anchored Atlantic Plaza and 0.7 miles from Walmart anchored North Reading Plaza. It is also about 1.6 miles from MA Route 125 and 2 miles from Interstate 93, with North Reading Middle and High Schools located roughly 2 miles from the property.
Key Highlights
- Walgreens single‑tenant absolute triple‑net leased property built in 2008
- Walgreens has occupied the property since construction in 2008, with 8+ years remaining on the lease
- Lease includes fifty (50) 1‑year renewal options
Local 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 | $391.5k | $27.00 |
| − Vacancy | −$29.4k | −$2.03 |
| EGI | $362.1k | $24.98 |
| − OpEx | −$90.5k | −$6.24 |
| NOI | $271.6k | $18.73 |
14,500 SF · lease $27.00/SF/yr · vacancy 7.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$3.88M
$3.40M – $4.53M
NOI $271,603 @ 7.0% cap · market cap 4.46%
Second Best
Retail
$2.98M
$2.61M – $3.47M
NOI $208,406 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$8.58M
$7.51M – $10.01M
NOI $600,876 @ 7.0% cap · market cap 9.87%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Walgreens
Pharmacy
Walgreens Photo
(Bike/Boat/Book/etc) Store
Walgreens Pharmacy
Pharmacy
Cardtronics
Atm
COVID-19 Drive-Thru Testing ...
Pharmacy
Similar For Sale Nearby
Similar Off Market Nearby
- Walgreens Pharmacy — 158 Main St, North Reading, MA 01864
- COVID-19 Drive-Thru Testing at Walgreens — 158 Main St, North Reading, MA 01864
- Kelli Campbell — 158 Main St, North Reading, MA 018643116
- Manan Bhagadia — 158 Main St, North Reading, MA 018643116
- Sangwoo Lee — 158 Main St, North Reading, MA 018643116
FAQs
What type of property is this?
Drug store - Absolute triple-net Walgreens occupied since 2008, with 8+ years remaining and renewal options on a corner parcel.
Where is this drug store located?
The property is located at 158 Main St North Reading, MA.
What is the asking price?
The asking price for this property is $6,088,889.
What are key features of this property?
This property features: Walgreens single‑tenant absolute triple‑net leased property built in 2008; Walgreens has occupied the property since construction in 2008, with 8+ years remaining on the lease; Lease includes fifty (50) 1‑year renewal options
