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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.

Property Facts Under Contract

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
14,680 SF
Building Class
B
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

Amenities

  • Pylon Sign
  • Security System
  • Wheelchair Accessible
  • Air Conditioning

Major Tenants

  • Tenant
  • Industry
  • SF Occupied
  • Rent/SF
  • Lease Type
  • Lease End
  • Retailer
  • -
  • -
  • Triple Net
  • Sep 2037

Walgreens is a major U.S. pharmacy and retail chain founded in 1901 in Chicago, Illinois. The company operates thousands of locations across the United States, providing prescription medications, over-the-counter drugs, health and wellness products, and convenience items. Walgreens also offers services such as immunizations, health screenings, and photo processing. The company has expanded its healthcare offerings through partnerships and in-store clinics, aiming to integrate pharmacy services with broader health solutions. Walgreens is part of Walgreens Boots Alliance, a global pharmacy-led health and wellbeing enterprise.

Tenant Industry SF Occupied Rent/SF Lease Type Lease End
Retailer - - Triple Net Sep 2037
Walk Score®
Very Walkable (76)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

Nearby Major Retailers

Shoprite
PNC Bank
Boston Market
Jazzercise
TD Banknorth
IHOP
Planet Fitness
Bank of America

Property Taxes

Property Taxes

Parcel Number
02-00118-0000-00045
Land Assessment
$846,000
Improvements Assessment
$3,910,600
Total Assessment
$4,756,600
  • Listing ID: 36028094

  • Date on Market: 5/29/2025

  • Last Updated:

  • Address: 1801 N Olden Ave, Ewing, NJ 08638

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