Fee Simple Walgreens
For Sale
Contact for pricing
Pending
4296 Route 130, Willingboro, NJ 08046
Fee simple Walgreens with absolute net lease terms, zero landlord responsibilities, and a full Walgreens guaranty.
Property Size15,120 SF
Days on Market55
Property Features for 4296 Route 130
General Information
Standard status
Pending
Size
15,120 SF
Class
A
Property subtype
Retail
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$291,666
Additional Details
Traffic Count
37,000 vehicles/day
Building Details
Year Built
2001
Tenancy
Single
Listing Agency:
RX Syndicate
Listed By:
Arthur Griffith · License #CA 01876378
Source:
Crexi
Added: Jun 18
Changed: Aug 8
Last Checked: Aug 10 at 12:31PM
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
Investment Insights
Based on property information with market context.
This fee simple Walgreens is offered for sale with an absolute net lease structure that places zero landlord responsibilities on the owner. The property includes a full Walgreens guaranty and a preferred 5-year option structure. Walgreens recently exercised its option early, extending the term in exchange for adjusting the rents to market.
The store is positioned on US 130, described as a main retail corridor in the trade area with more than 37,000 cars per day passing the site. The corner location is surrounded by national retailers and is in the path of travel to a major healthcare hub anchored by the Virtua Willingboro campus, a 249-bed hospital.
For buyers considering a Walgreens investment with fee simple ownership, this asset is presented as a passive 1031 exchange fit. The lease terms, including the Walgreens guaranty and absolute net responsibilities, are designed to simplify owner involvement while maintaining a long-term operating commitment.
The store is positioned on US 130, described as a main retail corridor in the trade area with more than 37,000 cars per day passing the site. The corner location is surrounded by national retailers and is in the path of travel to a major healthcare hub anchored by the Virtua Willingboro campus, a 249-bed hospital.
For buyers considering a Walgreens investment with fee simple ownership, this asset is presented as a passive 1031 exchange fit. The lease terms, including the Walgreens guaranty and absolute net responsibilities, are designed to simplify owner involvement while maintaining a long-term operating commitment.
Key Highlights
- Fee simple Walgreens built in 2001 with an absolute net lease and zero landlord responsibilities.
- Walgreens recently extended the lease term early, with rents adjusted to market.
- Full Walgreens guaranty and preferred 5‑year option structure.
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
$226,105
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
6.11%
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%
$4,522,100
$4.5M
Cap Rate 7%
$3,230,071
$3.2M
Cap Rate 9%
$2,512,278
$2.5M
Market Conditions
NOI Build-Up for 15,120 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
$339.3K $22.44/SF
− Vacancy
−$16.3K −$1.08/SF
EGI
$323.0K $21.36/SF
− OpEx
−$96.9K −$6.41/SF
NOI
$226.1K $14.95/SF
Area
Burlington County, NJ
Vacancy
4.80%
Lease Rate
$22.44 /SF/Yr
Expense Ratio
30.00%
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%
$4,522,100
Cap Rate 7%
$3,230,071
Cap Rate 9%
$2,512,278
Alternative Uses
Best Use
Retail
$3.23M
$2.83M – $3.77M
NOI $226,105 @ 7.0% cap · market cap 6.11%
Second Best
Specialty Retail
$2.78M
$2.44M – $3.25M
NOI $194,935 @ 7.0% cap · market cap 5.27%
Theoretical Best
Warehouse
$31.62M
$27.67M – $36.89M
NOI $2,213,623 @ 7.0% cap · market cap 59.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
37,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
557
Businesses Nearby
85k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 54%
Shops & Services 38%
Apparel 7%
Electronics 1%
McDonald's
Dining
16,308 visits/mo
0.3 miles
Burger King
Dining
11,241 visits/mo
0.5 miles
Dunkin' Donuts
Dining
9,015 visits/mo
0.4 miles
Popeyes Louisiana Kitchen
Dining
8,264 visits/mo
0.1 miles
Bank of America
Shops & Services
8,052 visits/mo
0.4 miles
Demographics for 08046, NJ
31,846
Population
11,482
Households
2.8
Avg Household Size
43
Median Age
26%
College-Educated
93%
High-School Grad
7.6 sq mi
ZIP Area
4,190
Density / Sq Mi
$91,447
Median Household Income
$43,438
Median Earnings
$1,941
Median Rent
$240,000
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Eastpark Pharmacy — 1 Rose St, Willingboro, NJ 08046
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- Walgreens Pharmacy — 4296 US-130, Willingboro, NJ 08046
Frequently Asked Questions
What type of property is this?
Drug store - Fee simple Walgreens with absolute net lease terms, zero landlord responsibilities, and a full Walgreens guaranty.
Where is this drug store located?
The property is located at 4296 Route 130 Willingboro, NJ.
What is the asking price?
The asking price for this property is $3,700,000.
What are key features of this property?
This property features: Fee simple Walgreens built in 2001 with an absolute net lease and zero landlord responsibilities.; Walgreens recently extended the lease term early, with rents adjusted to market.; Full Walgreens guaranty and preferred 5‑year option structure.
