Gulfport Walgreens Investment
5701 Gulfport Blvd S, Gulfport, FL 33707
For Sale
Contact for pricing
NN Walgreens with 35+ years remaining on the lease.
Property Size14,725 SF
Price / SF$269.38
Days on Market244
Property Features for 5701 Gulfport Blvd S
General Information
Standard status
Size
Property subtype
Occupancy
Lease Type
Investment Type
Net Operating Income
Building Details
Year Built
Buildings
Stories
Tenancy
Listing Agency:
Longstead at The Corcoran Group
Listed By:
Cyril Bijaoui · License FL #3325796
(786) 326-3774
Source:
Crexi
Added: Mar 13
Changed: Oct 30
Last Checked: Nov 10 at 5:15AM
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 Longstead at The Corcoran Group
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Investment Insights
Based on property information with market context.
This single-tenant, double-net (NN) Walgreens pharmacy is located at 5701 Gulfport Blvd S in Gulfport, FL. The property has a lease extended through December 31, 2061, executed in December 2025. The property is the only Walgreens in the City of Gulfport, serving as the community's anchor pharmacy for a trade area with a median age of 56.4 years within one mile. The building has a drive-through pharmacy on site. The property is located at the signalized intersection of Gulfport Blvd S and 58th Street S with approximately 15,700–17,500 vehicles per day. Landlord responsibilities are limited to roof and structure only. Tenant covers taxes, insurance, utilities, HVAC, and all interior repairs. The next earliest termination option is December 31, 2035, providing a minimum 10-year guaranteed income stream from lease signing. The property has a current NOI of $238,000 per year that will increase to $267,400 per year on January 1, 2036.
Key Highlights
- Long‑term lease with Walgreens through December 31, 2061, demonstrating a strong commitment.
- Double‑net (NN) lease with minimal landlord responsibilities (roof and structure only).
- Only Walgreens in Gulfport, serving as the community's anchor pharmacy.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$195,779
Cap Rate
4.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,915,580
$3.9M
Cap Rate 7%
$2,796,843
$2.8M
Cap Rate 9%
$2,175,322
$2.2M
Market Conditions
NOI Build-Up for 14,725 SF
Gross rent
$279.2K $18.96/SF
− Vacancy
−$18.1K −$1.23/SF
EGI
$261.0K $17.73/SF
− OpEx
−$65.3K −$4.43/SF
NOI
$195.8K $13.30/SF
Area
Pinellas County, FL
Vacancy
6.50%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,915,580
Cap Rate 7%
$2,796,843
Cap Rate 9%
$2,175,322
Alternative Uses
Best Use
Specialty Retail
$2.80M
$2.45M – $3.26M
NOI $195,779 @ 7.0% cap · market cap 4.94%
Second Best
Retail
$2.50M
$2.19M – $2.92M
NOI $175,331 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$3.83M
$3.35M – $4.47M
NOI $268,106 @ 7.0% cap · market cap 6.76%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
566
Businesses Nearby
10k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Chevron
Shops & Services
3,358 visits/mo
0.5 miles
Citgo
Shops & Services
3,312 visits/mo
0.5 miles
Regions Bank
Shops & Services
2,992 visits/mo
0.1 miles
Meineke Car Care Center
Shops & Services
672 visits/mo
0.5 miles
Demographics for 33707, FL
24,646
Population
16,579
Households
1.5
Avg Household Size
58
Median Age
40%
College-Educated
95%
High-School Grad
5.3 sq mi
ZIP Area
4,650
Density / Sq Mi
$68,560
Median Household Income
$45,513
Median Earnings
$1,512
Median Rent
$344,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- Josie O Products — 2608 53rd st s, gulfport, fl 33707
- Edgar Adams — 5701 Gulfport Blvd S, Gulfport, FL 337074834
- Anthony Traylor, RPH — 5701 Gulfport Blvd S, Gulfport, FL 33707
- COVID-19 Drive-Thru Testing at Walgreens — 5701 Gulfport Blvd S, Gulfport, FL 33707
- Walgreens Pharmacy — 5701 Gulfport Blvd S, Gulfport, FL 33707
Frequently Asked Questions
What type of property is this?
Drug store - NN Walgreens with 35+ years remaining on the lease.
Where is this drug store located?
The property is located at 5701 Gulfport Blvd S Gulfport, FL.
What is the asking price?
The asking price for this property is $3,966,667.
What are key features of this property?
This property features: Long‑term lease with Walgreens through December 31, 2061, demonstrating a strong commitment.; Double‑net (NN) lease with minimal landlord responsibilities (roof and structure only).; Only Walgreens in Gulfport, serving as the community's anchor pharmacy.
