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Walgreens | 12+yrs Remain Corp Abs NNN 36515 State Road 54 14,237 SF Retail Building Zephyrhills, FL 33541 $4,166,000 ($292.62/SF) 8% Cap Rate

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Investment Highlights

  • 12+ Years Remaining | Scheduled Rental Increases
  • Signalized, Hard Corner Intersection | Strong National Retailers
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Strong Demographics In 5-Mile Trade Area | Tampa MSA

Executive Summary

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, drive-thru equipped, Walgreens investment property located in Zephyrhills, Florida (Tampa MSA). The tenant, Walgreen Co., has over 12 years remaining on its lease with 12 (5-year) options to extend. The lease features 5% rental increases every 5 years throughout the initial term and at the beginning of each option period, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,237 SF
Building Class
B
Year Built
2010
Price
$4,166,000
Price Per SF
$292.62
Cap Rate
8%
NOI
$333,270
Tenancy
Single
Building Height
1 Story
Building FAR
0.21
Lot Size
1.55 AC
Opportunity Zone
Yes
Zoning
C2 - General Commercial District
Parking
51 Spaces (3.58 Spaces per 1,000 SF Leased)
Frontage
225’ on Florida 54

Amenities

  • Signage
  • Signalized Intersection
  • Drive Thru
  • Air Conditioning

Major Tenants Click Here to Access

  • Tenant
  • Industry
  • SF Occupied
  • Rent/SF
  • Lease Type
  • Lease End
  • Retailer
  • 99,999 SF
  • -
  • Lorem Ipsum
  • Jan 0000

Walgreens is a U.S.-based retail pharmacy chain that provides prescription dispensing, health services, and a broad range of retail products. The company was founded in 1901 by Charles R. Walgreen in Chicago, Illinois. Over time, Walgreens expanded from a single neighborhood pharmacy into a national retail and healthcare platform operating under a direct-to-consumer model. Walgreens became part of a global retail pharmacy organization following the 2014 transaction that formed Walgreens Boots Alliance. The company continues to operate its U.S. pharmacy and retail business under the Walgreens brand and maintains its corporate headquarters in Deerfield, Illinois. Walgreens operates as a subsidiary within a larger corporate structure and is publicly traded through its parent company.

Tenant Industry SF Occupied Rent/SF Lease Type Lease End
Retailer 99,999 SF - Lorem Ipsum Jan 0000

Property Taxes

Property Taxes

Parcel Number
09-26-21-0010-12500-0010
Land Assessment
$891,275
Improvements Assessment
$1,252,975
Total Assessment
$2,144,250
  • Listing ID: 38756516

  • Date on Market: 12/12/2025

  • Last Updated:

  • Address: 36515 State Road 54, Zephyrhills, FL 33541

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