Walgreens on Dimond
For Sale
$5,900,000
2197 W Dimond Blvd, Anchorage, AK 99515
Anchorage Walgreens with absolute net lease and drive-thru.
Property Size13,791 SF
Price / SF$427.82
Days on Market213
Property Features for 2197 W Dimond Blvd
General Information
Standard status
Active
Size
13,791 SF
Class
B
Property subtype
Retail - Freestanding
Site & Location
Neighborhood
Bayshore/Klatt
Building Details
Building Size
13,791 SF
Year Built
2009
Listing Agency:
RX Syndicate
Listed By:
Arthur Griffith · License #01876378
Source:
Commercialcafe
Added: Mar 27
Changed: Oct 25
Last Checked: Oct 24 at 2:04PM
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 RX Syndicate
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Investment Insights
Based on property information with market context.
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.
Key Highlights
- 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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$262,139
Cap Rate
4.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,242,780
$5.2M
Cap Rate 7%
$3,744,843
$3.7M
Cap Rate 9%
$2,912,656
$2.9M
Market Conditions
NOI Build-Up for 13,791 SF
Gross rent
$364.1K $26.40/SF
− Vacancy
−$14.6K −$1.06/SF
EGI
$349.5K $25.34/SF
− OpEx
−$87.4K −$6.34/SF
NOI
$262.1K $19.01/SF
Area
Anchorage, AK
Vacancy
4.00%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,242,780
Cap Rate 7%
$3,744,843
Cap Rate 9%
$2,912,656
Alternative Uses
Best Use
Specialty Retail
$3.74M
$3.28M – $4.37M
NOI $262,139 @ 7.0% cap · market cap 4.44%
Second Best
Retail
$3.32M
$2.90M – $3.87M
NOI $232,326 @ 7.0% cap · market cap 3.94%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Demographics for 99515, AK
22,532
Population
8,137
Households
2.8
Avg Household Size
37
Median Age
41%
College-Educated
95%
High-School Grad
10.6 sq mi
ZIP Area
2,126
Density / Sq Mi
$112,445
Median Household Income
$55,657
Median Earnings
$1,716
Median Rent
$400,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
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 W Dimond Blvd Anchorage, AK.
What is the asking price?
The asking price for this property is $5,900,000.
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.
