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1251 4th St
Mason City, IA 50401
Walgreens · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Walgreens Corporate Guarantee (NYSE: WBA)
- Across the Street from MercyOne North Iowa Medical Center, a 346 Bed Regional Referral Teaching Hospital
- Situated at a Hard Corner Signalized Intersection with More than 23,300 Vehicles Per Day Traffic Counts
- Absolute NNN Lease | Zero Landlord Responsibility
- Strong Regional Medical Hub – MercyOne North Iowa Medical Center, the Largest Employer in the Region, Serving 14 Counties
- Surrounding Retailers Include - Walmart, Hobby Lobby, Hy-Vee, Planet Fitness, Aldi, Menards and more
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present for sale this Absolute Net Leased Walgreens located at 1251 4th Street SW in Mason City, Iowa, a regional hub known for its healthcare, retail, and education sectors. The subject property consists of a 15,120 SF free-standing building with a drive-thru, situated on a 1.48-acre parcel at a hard-corner, signalized intersection with over 27,000 vehicles per day.
Mason City, with a population of 27,338, is part of the larger Mason City Statistical Area, encompassing Cerro Gordo and Worth Counties. The Winnebago River runs southeast of the city, and Clear Lake, a popular recreational destination, is nearby. The area’s economy is anchored by MercyOne North Iowa Medical Center, the largest employer in the region, serving 14 counties and driving significant daytime traffic.
The property benefits from proximity to major national retailers, including Walmart, Hobby Lobby, Hy-Vee Grocery Store, Planet Fitness, Aldi, and Menards, reinforcing the strength of the surrounding retail corridor. Additionally, North Iowa Area Community College (2,500 students) is nearby, further contributing to local foot traffic.
This Absolute NNN Lease requires zero landlord responsibility, making it a passive investment opportunity backed by a Walgreens corporate guarantee (NYSE: WBA). The current lease term runs through January 31, 2027, and has ten (10) fiveyear renewal options, providing long-term stability.
Walgreens Boots Alliance (NASDAQ: WBA) operates over 12,700 stores across all 50 U.S. states, the District of Columbia, Puerto Rico, and Guam, along with worksite health centers, home care facilities, and specialty and mail service pharmacies. In fiscal year 2024, the company reported $147.7 billion in revenue reflecting continued strength in its healthcare and retail segments.
Mason City, with a population of 27,338, is part of the larger Mason City Statistical Area, encompassing Cerro Gordo and Worth Counties. The Winnebago River runs southeast of the city, and Clear Lake, a popular recreational destination, is nearby. The area’s economy is anchored by MercyOne North Iowa Medical Center, the largest employer in the region, serving 14 counties and driving significant daytime traffic.
The property benefits from proximity to major national retailers, including Walmart, Hobby Lobby, Hy-Vee Grocery Store, Planet Fitness, Aldi, and Menards, reinforcing the strength of the surrounding retail corridor. Additionally, North Iowa Area Community College (2,500 students) is nearby, further contributing to local foot traffic.
This Absolute NNN Lease requires zero landlord responsibility, making it a passive investment opportunity backed by a Walgreens corporate guarantee (NYSE: WBA). The current lease term runs through January 31, 2027, and has ten (10) fiveyear renewal options, providing long-term stability.
Walgreens Boots Alliance (NASDAQ: WBA) operates over 12,700 stores across all 50 U.S. states, the District of Columbia, Puerto Rico, and Guam, along with worksite health centers, home care facilities, and specialty and mail service pharmacies. In fiscal year 2024, the company reported $147.7 billion in revenue reflecting continued strength in its healthcare and retail segments.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
15,120 SF
Building Class
B
Year Built
2000
Price
$4,050,840
Price Per SF
$267.91
Cap Rate
7.50%
NOI
$303,813
Tenancy
Single
Building Height
1 Story
Building FAR
0.23
Lot Size
1.50 AC
Opportunity Zone
Yes
Zoning
C - Commercial
Parking
62 Spaces (4.1 Spaces per 1,000 SF Leased)
Frontage
258’ on 4th Street Southwest
AMENITIES
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 07-09-301-03-000 | Improvements Assessment | $1,550,060 |
| Land Assessment | $405,480 | Total Assessment | $1,955,540 |
PROPERTY TAXES
Parcel Number
07-09-301-03-000
Land Assessment
$405,480
Improvements Assessment
$1,550,060
Total Assessment
$1,955,540
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