2503 5th Ave S 15,120 SF Retail Building Fort Dodge, IA 50501 $3,442,920 ($227.71/SF) 7.50% Cap Rate

We are pleased to present for sale this Absolute Net Leased Walgreens located at 2503 5th Avenue S in Fort Dodge, Iowa, a major commercial center for North Central and Northwest Iowa. The subject property consists of a 15,120 SF free-standing building with a drive-thru, situated on a 1.4-acre parcel at a hard-corner signalized intersection with over 17,000 vehicles per day.
The property is strategically positioned directly across from the Corridor Plaza, a transformative mixed-use redevelopment project, currently underway. Corridor Plaza is set to feature a mix of retail, restaurants, hotels, and entertainment, creating a modern commercial hub that will drive significant foot traffic and economic activity to the area. This redevelopment enhances the long-term viability of the trade area, further solidifying Walgreens’ position within a growing and revitalized retail corridor. Additionally, the trade area is home to numerous national and regional retailers including but not limited to Wendy’s McDonald’s, Harbor Freight, Chick-fil-A, Culvers, Buffalo Wild Wings, Menard’s, CVS, and many others.
Fort Dodge, located along Routes 20 and 169, is home to key industries including biofuels, livestock feed, gypsum and limestone mining, drywall manufacturing, and can production. The city is also home to Fort Dodge Animal Health, a leading pharmaceutical and vaccine producer for veterinary use.
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.