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Walgreens 1801 N Olden Ave 14,680 SF Retail Building Ewing, NJ 08638 $6,490,700 ($442.15/SF) 8.75% Cap Rate

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INVESTMENT HIGHLIGHTS

Corporate Guaranty
Strong Retail Corridor with Exceptional Visibility
Densely Populated, Transit-Connected, and Affluent Area

Long Remaining Lease Term
Absolute NNN Expense Structure
Highly Educated Workforce Coupled with Major Employers

EXECUTIVE SUMMARY

Northmarq is pleased to offer for sale to qualified investors the opportunity to acquire the fee simple interest in a single-tenant Walgreens Pharmacy located at 1801 North Olden Ave in Ewing (Trenton), New Jersey. The Property is 100% occupied by Walgreen Eastern Co, Inc. (Guaranteed by Walgreens Corporate) and is subject to an absolute net lease with no landlord responsibilities. There are 12+ years remaining on the base lease term with 50, 1-year renewal option periods; the absolute net lease structure provides for a passive, secure investment with no responsibilities for the Landlord.

Walgreens-Ewing-NJ-Flyer-2

PROPERTY FACTS Under Contract

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Freestanding

Building Size

14,680 SF

Building Class

Year Built

2017

Price

$6,490,700

Price Per SF

$442.15

Cap Rate

8.75%

NOI

$567,939

Tenancy

Single

Building Height

1 Story

Building FAR

0.25

Lot Size

1.35 AC

Parking

56 Spaces (3.81 Spaces per 1,000 SF Leased)

Frontage

277’ on N Olden Ave

MAJOR TENANTS

Retailer
-
-
Triple Net
Sep 2037

Walgreens, founded by Charles Rudolph Walgreen in 1901 in Chicago, is a major U.S. pharmacy and retail chain operating under the publicly traded parent, Walgreens Boots Alliance (NASDAQ: WBA). Headquartered in Deerfield, Illinois, it provides prescription services, health and wellness products, photo services, and expanded healthcare offerings including immunizations and diagnostic screenings. As of late 2025, the company operated thousands of retail locations across the United States and Puerto Rico, serving roughly 78% of Americans within five miles of a store. Walgreens maintains omnichannel operations—blending in-store, online, drive-thru, and home delivery services—and has strategic healthcare partnerships, notably with VillageMD. Under the direction of new CEO Mike Motz, following the August 2025 purchase by Sycamore Partners, Walgreens continues to emphasize core pharmacy execution, digital innovation, and integrated care solutions.