Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2197 Dimond Blvd Anchorage, AK 99515

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Anchorage Walgreens with absolute net lease and drive-thru.

    Property size:
    13,791 SF

    Property Features for 2197 Dimond Blvd

    General Information

    Standard status
    Active
    Size
    13,791 SF

    Building Details

    Year built
    2009

    We can help!

    Listing Contact
    Arthur Griffith
    Source: Crexi

    Listing Agency: RX Syndicate Listing Agent: Arthur Griffith

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Walgreens on Dimond Boulevard

    The Walgreens property is strategically located along West Dimond Boulevard, a primary retail corridor serving residential neighborhoods and commercial areas in South Anchorage. The location benefits from high daily traffic, excellent visibility, and convenient access, making it a functional neighborhood retail site. The property is leased to Walgreens under an absolute net lease with no landlord responsibilities. The on-site pharmacy, accessible via a drive-thru, attracts repeat customers and reinforces the property's role as a community service location. Surrounded by grocery stores, big-box retailers, and service-oriented businesses, the store benefits from a stable trade area. Limited new retail development and geographic barriers in Anchorage support the long-term durability of this pharmacy investment. The property offers an opportunity to acquire a corner location with Walgreens as a tenant and strong real estate fundamentals. The property size is 13791 square feet. It is an ideal 1031 exchange property for investors seeking a passive, no-management asset with a long-term, absolute net lease.
    Location Intelligence

    Current Use by Public Records

    Walgreens Cosmetic Store Walgreens Pharmacy Pharmacy Redbox Cinema Eric S. Youngblood, ... Pharmacy Dara K. Dayani, ... Pharmacy

    Map

    City
    Anchorage
    County
    Anchorage
    State
    Alaska
    Longitude
    -149.9196374
    Latitude
    61.1376764

    Nearby Similar for Sale

    • $495,000
      1,486 SF

      Historical Cabins Ideal Office Use

      Two historical log cabins in midtown Anchorage, ideal for office.
      213 W Fireweed Ln, Anchorage, AK 99503
      View Details
    • New
      $599,999
      2,720 SF

      Anchorage Townhouse Style Duplex

      South Anchorage duplex with strong rental income potential.
      8941 Woodstock Cir, Anchorage, AK 99502
      View Details
    • $949,000
      5,274 SF

      Anchorage Multifamily Property with Large Lot

      Southside Anchorage multifamily property with potential for Airbnb.
      12636 Silver Fox Ln, Anchorage, AK 99515
      View Details
    • $879,000
      Pending

      Turn-Key Anchorage Multi-Family Property

      Centrally located duplex with short-term rental potential.
      827 W 20Th Ave, Anchorage, AK 99501
      View Details
    • $4,300,000
      30,240 SF

      Anchorage Midtown Office Building For Sale

      Three-story office building with basement storage in midtown Anchorage.
      3940 Arctic Blvd, Anchorage, AK 99503
      View Details
    • $2,300,000
      12,200 SF

      Anchorage Mixed-Use Commercial Properties

      Three adjacent commercial properties totaling 30,544 SF in Anchorage, AK.
      123 E Fireweed Ln, Anchorage, AK 99503
      View Details
    • $2,300,000
      12,200 SF

      Anchorage Commercial Properties For Sale

      Three adjacent commercial properties totaling 30,544 SF in Anchorage, AK.
      123 E Fireweed Ln, Anchorage, AK 99503
      View Details
    • $559,000
      Pending

      Anchorage Multifamily Investment Opportunity

      Four 2BR/1BA units near military base, shopping, and schools.
      4417 San Roberto Ave, Anchorage, AK 99508
      View Details
    • $1,599,900
      11,420 SF

      Anchorage Multifamily Investment Opportunity

      Midtown Anchorage 8-plex with updated units and income potential.
      808 W 29Th Pl, Anchorage, AK 99503
      View Details
    • $1,500,000
      22,186 SF

      Anchorage Warehouse with Existing Lease

      Anchorage warehouse for sale with existing tenant and income.
      1716 Post Rd, Anchorage, AK 99501
      View Details
    • $1,700,000

      Anchorage Condo with Upgrades

      Condo featuring 3 bedrooms, 3 baths, and upgraded kitchen.
      4011 E Turnagain Blvd, Anchorage, AK 99503
      View Details
    • $850,000

      Medical Building Investment Opportunity

      3,726 SF medical building for sale with existing tenant.
      4119 Laurel St, Anchorage, AK 99508
      View Details

    FAQs

    What type of property is this?
    Drug store - Anchorage Walgreens with absolute net lease and drive-thru.
    Where is this drug store located?
    The property is located at 2197 Dimond Blvd Anchorage, AK.
    What are key features of this property?
    This property features: - Absolute Net Lease with Walgreens: Enjoy zero landlord responsibilities with over eight years remaining until the next option period.; - Strategic Location: High-traffic location on W Dimond Blvd, a primary retail arterial in Anchorage, ensuring excellent visibility and access.; - Stable, Necessity-Based Trade Area: Surrounded by grocery, big-box, and service retailers, providing a consistent customer base.
    Request Owner's contact information
    2197 Dimond Blvd Anchorage, AK 99515
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2197 Dimond Blvd
    Anchorage, AK 99515
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2197 Dimond Blvd Anchorage, AK 99515
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Arthur Griffith
    Real Estate License ID: 01876378
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!