Retail Property in Growing
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25073 W Southern Ave, Buckeye, AZ 85326
Freestanding Walgreens retail property in a rapidly growing area.
Property Size14,820 SF
Price / SF$325.59
Days on Market155
Property Features for 25073 W Southern Ave
General Information
Standard status
Active
Size
14,820 SF
Property subtype
Retail
Zoning
CC
Building Details
Year Built
2009
Listing Agency:
Marcus & Millichap - Phoenix
(479) 785-4343
Listed By:
Mark Ruble · License #AZ SA550593000
Source:
Crexi
Added: Mar 10
Changed: Aug 8
Last Checked: Jul 23 at 12:39PM
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 Marcus & Millichap - Phoenix
Investment Insights
Based on property information with market context.
This retail property is located in Buckeye, Arizona, a rapidly growing city 30 miles west of Phoenix, situated at the edge of the metro area and south of White Tank Mountain Regional Park. The property is currently occupied by Walgreens, an American pharmaceutical company operating a large drug retailing chain. Walgreens specializes in prescriptions, health and wellness products, health information, and photo services. As of 2026, Walgreens operates approximately 8,000 stores in all 50 states and Puerto Rico. The property has a size of 14,820 square feet. Buckeye has become an important center in Arizona for industry, business, and commerce.
Key Highlights
- Tenant is Walgreens, a major American pharmaceutical company.
- Walgreens operates approximately 8,000 stores across the United States and Puerto Rico (as of 2026).
- Located in Buckeye, Arizona, one of the fastest‑growing cities in the state.
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
$249,421
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
5.17%
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%
$4,988,420
$5.0M
Cap Rate 7%
$3,563,157
$3.6M
Cap Rate 9%
$2,771,344
$2.8M
Market Conditions
NOI Build-Up for 14,820 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
$355.7K $24.00/SF
− Vacancy
−$23.1K −$1.56/SF
EGI
$332.6K $22.44/SF
− OpEx
−$83.1K −$5.61/SF
NOI
$249.4K $16.83/SF
Area
Maricopa County, AZ
Vacancy
6.50%
Lease Rate
$24.00 /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%
$4,988,420
Cap Rate 7%
$3,563,157
Cap Rate 9%
$2,771,344
Alternative Uses
Best Use
Specialty Retail
$3.56M
$3.12M – $4.16M
NOI $249,421 @ 7.0% cap · market cap 5.17%
Second Best
Retail
$2.67M
$2.34M – $3.11M
NOI $186,856 @ 7.0% cap · market cap 3.87%
Theoretical Best
Office A
$4.58M
$4.01M – $5.35M
NOI $320,896 @ 7.0% cap · market cap 6.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
122
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 85326, AZ
72,959
Population
22,417
Households
3.3
Avg Household Size
33
Median Age
17%
College-Educated
86%
High-School Grad
483.0 sq mi
ZIP Area
151
Density / Sq Mi
$91,444
Median Household Income
$45,241
Median Earnings
$1,635
Median Rent
$342,400
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Similar Off Market Nearby
- Walgreens Pharmacy — 25073 W Southern Ave, Buckeye, AZ 85326
- Ashley Kalchthaler — 25073 W Southern Ave, Buckeye, AZ 853261252
Frequently Asked Questions
What type of property is this?
Drug store - Freestanding Walgreens retail property in a rapidly growing area.
Where is this drug store located?
The property is located at 25073 W Southern Ave Buckeye, AZ.
What is the asking price?
The asking price for this property is $4,825,200.
What are key features of this property?
This property features: Tenant is Walgreens, a major American pharmaceutical company.; Walgreens operates approximately 8,000 stores across the United States and Puerto Rico (as of 2026).; Located in Buckeye, Arizona, one of the fastest‑growing cities in the state.
