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    1721 Parks Hwy Wasilla, AK 99654

    Sponsored
    For Sale
    $10,175,439

    High-performing Walgreens, absolute NNN lease.

    Property size:
    14,723 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 14,723-square-foot Walgreens located at 1721 E Parks Hwy, Wasilla, AK 99654. The property boasts a strong 5.70% cap rate and a substantial net operating income (NOI) of $580,000. Secured by a corporate guarantee from NASDAQ WBA, this absolute triple-net (NNN) lease ensures zero landlord responsibilities. The lease commenced on May 31, 2009, with a remaining term of 9.5 years and ten, five-year renewal options, extending to May 30, 2034. This top-performing Walgreens, the #1 store in Alaska (out of 11) according to Placer AI, benefits from a drive-thru, significantly boosting sales. Strategically positioned as an outparcel to a Target and Michaels-anchored shopping center, the property enjoys high visibility at a signalized intersection. The surrounding area features a robust mix of national and local retailers, including Fred Meyer, The Home Depot, Petco, Starbucks, and Raising Cane's. The 1.84-acre lot is the only Walgreens location within a 27-mile radius, further solidifying its market dominance. The asking price is $10,175,439, translating to $691.13 per square foot. This property offers a rare opportunity to acquire a high-performing, low-maintenance asset in a tax-free state with exceptional long-term growth potential.

    Property Features for 1721 Parks Hwy

    General Information

    Property type
    Individual retail properties
    Square Feet
    14,723 SF
    Lot Size
    80,150 SF

    HighLights

    • Absolute NNN lease with zero landlord responsibilities.
    • Corporate guarantee from NASDAQ:WBA.
    • Outparcel to a Target and Michaels‑anchored shopping center.
    • Strong surrounding demographics with national retailers.
    • Located in a tax‑free state.
    • Sole Walgreens within a 27‑mile radius.
    Property Profile Location Intelligence

    Current Use by Public Records

    Labcorp at Walgreens Medical Laboratory Walgreens Photo Passport Photo Processor Walgreens Drug Store Walgreens Pharmacy Pharmacy Western Union Money Transfer Service

    Map

    City
    Wasilla
    County
    Matanuska-Susitna
    State
    Alaska
    Longitude
    -149.4070316
    Latitude
    61.5773559

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    FAQs

    What type of property is this?
    Individual retail property - High-performing Walgreens, absolute NNN lease.
    Where is this individual retail property located?
    The property is located at 1721 Parks Hwy Wasilla, AK.
    What is the asking price?
    The asking price for this property is $10,175,439.
    What are key features of this property?
    This property features: Absolute NNN lease with zero landlord responsibilities.; Corporate guarantee from NASDAQ:WBA.; Outparcel to a Target and Michaels-anchored shopping center.
    Request Owner's contact information
    1721 Parks Hwy Wasilla, AK 99654
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1721 Parks Hwy Wasilla, AK 99654
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