1665 White Bear Avenue Saint Paul, MN 55106

Property Details for 1665 White Bear Avenue

Property size

15,085 SF

Property type

Drug stores

Description

This exceptional investment opportunity features a 15,085 square foot Walgreens located at 1665 White Bear Avenue, Saint Paul, Minnesota, 55106. The property boasts an absolute NNN lease with a corporate guarantee from Walgreens (NASDAQ:WBA), providing significant security. The lease commenced August 31, 2003, and expires January 30, 2029, with ten, five-year renewal options. The property generates a strong net operating income (NOI) of $384,000, resulting in an attractive 11.00% cap rate. The asking price is $3,490,909. This Walgreens enjoys a prime location at a signalized intersection of White Bear Avenue and Larpenteur Avenue E, benefiting from high visibility and exposure to 20,183 vehicles per day. The property is surrounded by complementary businesses including Pizza Hut, O'Reilly Auto Parts, Little Caesars Pizza, White Castle, Dollar Tree, and Metro by T-Mobile. Reported sales total $1,785,279. Attractive financing options are available with the seller offering 50% LTV financing. This is a rare opportunity to acquire a stable, high-performing Walgreens investment with significant long-term potential.