Walgreens in Platteville,
675 S Water St, Platteville, WI 53818
Single-tenant Walgreens with over 7 years remaining on the lease.
Type:Retail
Property size:
14,820 SFPrice / SF:
$238/SF- Added:
- Mar 2, 2026
- Days on Market:
- 117
- Last Refresh:
- Mar 16 at 1:50 pm
Property Features for 675 S Water St
General Information
- Standard status
- Active
- Size
- 14,820 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2008
Listing office Horvath & Tremblay
Listing date Mar 2, 2026
Source Crexi
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 Horvath & Tremblay
HighLights
- Absolute Triple‑Net (NNN) Lease: Offers a passive investment.
- Long‑Term Lease with Options: Walgreens has 7+ years of initial term remaining, plus ten (10), 5‑year renewal options, providing stable long‑term income.
- Strategic Corner Location: Situated at a signalized intersection of two major routes with high visibility and accessibility.
- Established Tenant: Walgreens is a nationally recognized and creditworthy tenant.
- Proximity to Key Amenities: Located near downtown Platteville, retailers, restaurants, schools, hotels, and the University of Wisconsin – Platteville.
- Strong Regional Connectivity: U.S. Route 151 provides direct access to Dubuque, IA, and Madison, WI, supporting consistent traffic.
Overview
The property is a single-tenant Walgreens located at 675 S Water Street in Platteville, Wisconsin. Constructed in 2008, Walgreens has occupied the property since then and has over 7 years of lease term remaining, followed by ten 5-year renewal options. The property is situated on a corner parcel at the signalized intersection of S Water Street (WI Route 80) and Dubuque Road (US Route 151 BUS), which are primary commercial and commuter corridors. The site benefits from frontage and visibility, with two access points, serving as a retail destination for local residents and regional travelers. Positioned less than a half mile from downtown Platteville, the property is surrounded by neighborhood amenities including retailers, restaurants, schools, and hotels. U.S. Route 151 provides access to Dubuque, IA, 20 miles to the southwest, and to Madison, 70 miles northeast, supporting traffic and connectivity to the region. The Walgreens is 0.7 miles from the University of Wisconsin – Platteville and 2 miles from Southwest Health Emergency Medical Services (Hospital). The property size is 14820 square feet.
Local Financial Insights For Specialty 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 | $281.0k | $18.96 |
| − Vacancy | −$7.3k | −$0.49 |
| EGI | $273.7k | $18.47 |
| − OpEx | −$68.4k | −$4.62 |
| NOI | $205.3k | $13.85 |
14,820 SF · lease $18.96/SF/yr · vacancy 2.60% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.93M
$2.57M – $3.42M
NOI $205,261 @ 7.0% cap · market cap 5.81%
Second Best
Retail
$2.74M
$2.39M – $3.19M
NOI $191,577 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$4.10M
$3.59M – $4.79M
NOI $287,197 @ 7.0% cap · market cap 8.14%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Walgreens Pharmacy
Pharmacy
Walgreens
Pharmacy
Bret C. Van ...
Pharmacy
Jason L. Hendrickson, ...
Pharmacy
Bitcoin Depot | BDCheckout
Atm
Similar Places Nearby
- Walgreens Pharmacy — 675 S Water St, Platteville, WI 53818
- Suppz Platteville — 360 S Water St, Platteville, WI 53818
- Bret C. Van Bogaert, Pharm — 675 S Water St, Platteville, WI 53818
- Jason L. Hendrickson, RPH — 675 S Water St, Platteville, WI 53818
- COVID-19 Drive-Thru Testing at Walgreens — 675 S Water St, Platteville, WI 53818
Location Insight
- Map
- Local Demand
- City
- Platteville
- County
- Grant
- State
- Wisconsin
- Longitude
- -90.469264
- Latitude
- 42.739608
Nearby Similar for Sale
FAQs
What type of property is this?
Drug store - Single-tenant Walgreens with over 7 years remaining on the lease.
Where is this drug store located?
The property is located at 675 S Water St Platteville, WI.
What is the asking price?
The asking price for this property is $3,530,000.
What are key features of this property?
This property features: Absolute Triple‑Net (NNN) Lease: Offers a passive investment.; Long‑Term Lease with Options: Walgreens has 7+ years of initial term remaining, plus ten (10), 5‑year renewal options, providing stable long‑term income.; **Strategic Corner Location:** Situated at a signalized intersection of two major routes with high visibility and accessibility.
