Walgreens For Sale in
For Sale
Contact for pricing
4315 W McDowell Rd, Phoenix, AZ 85035
Walgreens retail property available in Phoenix, Arizona.
Property Size14,995 SF
Price / SF$220.07
Days on Market197
Property Features for 4315 W McDowell Rd
General Information
Standard status
Active
Size
14,995 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$228,069
Building Details
Year Built
2000
Tenancy
Single
Listing Agency:
Marcus & Millichap - Phoenix
(479) 785-4343
Listed By:
Mark Ruble · License #AZ SA550593000
Source:
Crexi
Added: Jan 26
Changed: Aug 8
Last Checked: Aug 11 at 4:53PM
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.
The property is a Walgreens retail location in Phoenix, Arizona. Walgreens is an American pharmaceutical company operating a large drug retailing chain in the United States, specializing in prescriptions, health and wellness products, health information, and photo services. As of 2023, the company operates 8,700 stores in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. The Phoenix metro area, consisting of Maricopa and Pinal counties, includes more than 30 incorporated and more than 30 unincorporated towns and cities. As of 2020, the Phoenix metro area had 4.8 million residents, making it the nation’s 11th largest metropolitan area. The city of Phoenix encompasses about 520 square miles and has a population of more than 1.6 million. The property size is 14,995 square feet.
Key Highlights
- Walgreens is the tenant, operating the largest drug retailing chain in the U.S.
- Walgreens operates approximately 8,700 stores across the U.S. and territories.
- The property is located in Phoenix, Arizona.
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
$223,485
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
6.77%
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%
$4,469,700
$4.5M
Cap Rate 7%
$3,192,643
$3.2M
Cap Rate 9%
$2,483,167
$2.5M
Market Conditions
NOI Build-Up for 14,995 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
$323.9K $21.60/SF
− Vacancy
−$25.9K −$1.73/SF
EGI
$298.0K $19.87/SF
− OpEx
−$74.5K −$4.97/SF
NOI
$223.5K $14.90/SF
Area
Phoenix, AZ
Vacancy
8.00%
Lease Rate
$21.60 /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%
$4,469,700
Cap Rate 7%
$3,192,643
Cap Rate 9%
$2,483,167
Alternative Uses
Best Use
Specialty Retail
$3.19M
$2.79M – $3.72M
NOI $223,485 @ 7.0% cap · market cap 6.77%
Second Best
Retail
$2.42M
$2.12M – $2.82M
NOI $169,476 @ 7.0% cap · market cap 5.14%
Theoretical Best
Office A
$4.54M
$3.97M – $5.30M
NOI $317,948 @ 7.0% cap · market cap 9.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
416
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85035, AZ
51,441
Population
15,868
Households
3.2
Avg Household Size
28
Median Age
10%
College-Educated
66%
High-School Grad
5.6 sq mi
ZIP Area
9,186
Density / Sq Mi
$57,790
Median Household Income
$34,363
Median Earnings
$1,390
Median Rent
$244,300
Median Home Value
Market
Vacancy Rate% for Retail in Phoenix, AZ
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Fry's Pharmacy — 4230 W McDowell Rd, Phoenix, AZ 85009
- Walgreens Pharmacy — 4315 W McDowell Rd, Phoenix, AZ 85035
- Ira S. Goldman, RPh — 4230 W McDowell Rd, Phoenix, AZ 85009
- Sandra Kim, PharmD — 4315 W McDowell Rd, Phoenix, AZ 85035
- Olga Kurdelchuk — 4315 W McDowell Rd, Phoenix, AZ 850354201
Frequently Asked Questions
What type of property is this?
Drug store - Walgreens retail property available in Phoenix, Arizona.
Where is this drug store located?
The property is located at 4315 W McDowell Rd Phoenix, AZ.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: Walgreens is the tenant, operating the largest drug retailing chain in the U.S.; Walgreens operates approximately 8,700 stores across the U.S. and territories.; The property is located in Phoenix, Arizona.
