Corner Walgreens Retail
2803 Ridge Pike Norristown, PA 19403
For Sale
Contact for pricing
Single-tenant Walgreens retail property at a high-traffic intersection on Ridge Pike and N Park Ave.
Property Size14,490 SF
Price / SF$372.67
Days on Market196
Property Features for 2803 Ridge Pike
General Information
- Standard status
- Active
- Size
- 14,490 SF
- Property subtype
- RETAIL
Listing Agency:
Equity CRE
(484) 417-2223
Listed By:
Ken Yanni · License #RM050201A
Source:
Moodyscre
Added: Jan 12
Changed: Jul 25
Last Checked: Jul 26 at 1:59PM
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 Equity CRE
Investment Insights
Based on property information with market context.
This is a single-tenant Walgreens retail building with a recently extended lease. Walgreens has been at the location since 2005, and the lease expires in 2037, with nine 5-year renewal options.
The property is prominently situated on the corner of Ridge Pike and N Park Ave, a high-traffic intersection with over 33,000 vehicles per day. It is located in a strong retail corridor with many national tenants nearby, and it benefits from proximity to Shannondell at Valley Forge, a Continuing Care Retirement Community with over 1,100 residents.
According to Placer.ai, the Walgreens location ranks in the 74th percentile in visits in Pennsylvania and 63rd percentile nationally, with over 323,000 visits in the past 12 months.
The property is prominently situated on the corner of Ridge Pike and N Park Ave, a high-traffic intersection with over 33,000 vehicles per day. It is located in a strong retail corridor with many national tenants nearby, and it benefits from proximity to Shannondell at Valley Forge, a Continuing Care Retirement Community with over 1,100 residents.
According to Placer.ai, the Walgreens location ranks in the 74th percentile in visits in Pennsylvania and 63rd percentile nationally, with over 323,000 visits in the past 12 months.
Key Highlights
- Single‑tenant Walgreens property at the corner of Ridge Pike and N Park Ave
- Lease expires in 2037 with nine 5‑year renewal options
- Walgreens lease is guaranteed by Walgreens, rated BB- by Standard & Poor’s
Financial Insights For 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 | $260.8k | $18.00 |
| − Vacancy | −$11.0k | −$0.76 |
| EGI | $249.9k | $17.24 |
| − OpEx | −$75.0k | −$5.17 |
| NOI | $174.9k | $12.07 |
14,490 SF · lease $18.00/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$8.33M
$7.29M – $9.72M
NOI $583,436 @ 7.0% cap · market cap 10.80%
Second Best
Retail
$2.50M
$2.19M – $2.92M
NOI $174,906 @ 7.0% cap · market cap 3.24%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Walgreens Photo
(Bike/Boat/Book/etc) Store
Walgreens
Cosmetic Store
Citizens ATM
Atm
Bitcoin Depot | BDCheckout
Atm
Walgreens Pharmacy
Pharmacy
Similar Off Market Nearby
- ACME Markets Pharmacy — 2761 Ridge Pike, Norristown, PA 19403
- Sav-On Pharmacy — 2775 W Main St, Norristown, PA 19404
- John F. Morrione, BSC — 2775 W Main St, Norristown, PA 19403
- Diana M. Lorch, PharmD — 2803 W Main St, Norristown, PA 19403
- Matthew A. Bartolo, PharmD — 2803 W Main St, Norristown, PA 19403, United States
FAQs
What type of property is this?
Drug store - Single-tenant Walgreens retail property at a high-traffic intersection on Ridge Pike and N Park Ave.
Where is this drug store located?
The property is located at 2803 Ridge Pike Norristown, PA.
What is the asking price?
The asking price for this property is $5,400,000.
What are key features of this property?
This property features: Single‑tenant Walgreens property at the corner of Ridge Pike and N Park Ave; Lease expires in 2037 with nine 5‑year renewal options; Walgreens lease is guaranteed by Walgreens, rated BB- by Standard & Poor’s
