Walgreens Drug
New
For Sale
Contact for pricing
717 EIGHTH AVE, Monroe, WI 53566
Pharmacy and health-retail property leased to Walgreen Co. at a commercial-corridor corner.
Property Size14,490 SF
Lot Size1.53 Acres
Price / SF$291.24
Days on Market5
Property Features for 717 EIGHTH AVE
General Information
Standard status
Active
Size
14,490 SF
Lot size
1.53 Acres
Property subtype
Retail
Additional Details
Corner Location
Yes
Building Details
Year Built
2008
Buildings
1
Tenancy
Single
Listing Agency:
Northmarq Capital, LLC
Listed By:
Chad Byerly · License #OK 155856
(918) 794-9516
Source:
Crexi
Added: Sep 14
Changed: Sep 16
Last Checked: Sep 18 at 6:57AM
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 Northmarq Capital, LLC
Investment Insights
Based on property information with market context.
The offering comprises a 14,490-square-foot Walgreens drug store on a 1.53-acre parcel at 717 Eighth Ave in Monroe, Wisconsin. Built in 2008, the property is leased to Walgreen Co., a pharmacy and health-retail operator. The sale includes a 100% fee simple interest.
The building occupies the northeast corner of Highway 69 and 8th Avenue, with reported traffic volumes of 11,500+ VPD and 11,800+ VPD, respectively. Its location is across from Piggly Wiggly and near national retailers including Dunkin', McDonald's, O'Reilly Auto Parts, Pick 'n Save, Culver's, Subway, Chrysler | Dodge | Jeep | Ram, and GMC.
The building occupies the northeast corner of Highway 69 and 8th Avenue, with reported traffic volumes of 11,500+ VPD and 11,800+ VPD, respectively. Its location is across from Piggly Wiggly and near national retailers including Dunkin', McDonald's, O'Reilly Auto Parts, Pick 'n Save, Culver's, Subway, Chrysler | Dodge | Jeep | Ram, and GMC.
Key Highlights
- 14,490‑square‑foot Walgreens drug store on a 1.53‑acre lot
- Leased to Walgreen Co.
- Constructed in 2008
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
$235,390
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
5.58%
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%
$4,707,800
$4.7M
Cap Rate 7%
$3,362,714
$3.4M
Cap Rate 9%
$2,615,444
$2.6M
Market Conditions
NOI Build-Up for 14,490 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
$330.4K $22.80/SF
− Vacancy
−$16.5K −$1.14/SF
EGI
$313.9K $21.66/SF
− OpEx
−$78.5K −$5.42/SF
NOI
$235.4K $16.25/SF
Area
Green County, WI
Vacancy
5.00%
Lease Rate
$22.80 /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%
$4,707,800
Cap Rate 7%
$3,362,714
Cap Rate 9%
$2,615,444
Alternative Uses
Best Use
Specialty Retail
$3.36M
$2.94M – $3.92M
NOI $235,390 @ 7.0% cap · market cap 5.58%
Second Best
Retail
$2.96M
$2.59M – $3.45M
NOI $207,258 @ 7.0% cap · market cap 4.91%
Theoretical Best
Office A
$4.23M
$3.70M – $4.94M
NOI $296,292 @ 7.0% cap · market cap 7.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
563
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53566, WI
14,970
Population
6,810
Households
2.2
Avg Household Size
44
Median Age
26%
College-Educated
93%
High-School Grad
152.9 sq mi
ZIP Area
98
Density / Sq Mi
$71,801
Median Household Income
$41,525
Median Earnings
$849
Median Rent
$203,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Drug store - Pharmacy and health-retail property leased to Walgreen Co. at a commercial-corridor corner.
Where is this drug store located?
The property is located at 717 EIGHTH AVE Monroe, WI.
What is the asking price?
The asking price for this property is $4,220,000.
What are key features of this property?
This property features: 14,490‑square‑foot Walgreens drug store on a 1.53‑acre lot; Leased to Walgreen Co.; Constructed in 2008
