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Walgreens 18267 Carson Cir NW 14,721 SF Retail Building Elk River, MN 55330 $4,200,000 ($285.31/SF) 7.50% Cap Rate
INVESTMENT HIGHLIGHTS
- MINNEAPOLIS–ST. PAUL MSA – Located within the nation’s 16th largest MSA and the second largest in the Midwest, Elk River
- LONG-TERM LEASE EXTENSION – In 2020, Walgreens executed a brand-new 15-year lease with 5% rent escalations every five years
- NURSING HOME ADJACENT – Situated just 0.2 miles from Guardian Angels Care Center, a 120-bed skilled nursing facility
- STRONG POPULATION GROWTH – Elk River is a fast-growing Minneapolis suburb, with projected population increases of 9.3% within 1 mile and 10.1%
- RENTAL ESCALATIONS – Walgreens benefits from rare rental escalations of 5% every 5 years, providing a built-in hedge against inflation
- AFFLUENT COMMUNITY – This Walgreens serves the high-income community of Elk River in Minneapolis’s northwest suburbs, where the average household
EXECUTIVE SUMMARY
Kurt Sauer
Matthews of Minnesota, LLC
License No. 41005445 (MN)
PROPERTY FACTS
AMENITIES
- Corner Lot
- Signage
- Drive Thru
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
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- Retailer
- -
- -
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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.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
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Retailer | - | - | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 75-759-0125 | Improvements Assessment | $1,111,700 |
| Land Assessment | $766,700 | Total Assessment | $1,878,400 |
PROPERTY TAXES
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Walgreens | 18267 Carson Cir NW
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