Walgreens & Mixed Use Offices 4860 Donald Ross Rd 25,708 SF 4-Star Retail Building Palm Beach Gardens, FL 33418 $9,571,728 ($372.32/SF) 6.25% Cap Rate

Marcus & Millichap is pleased to present this Trophy Location Walgreens Ground Lease and Nine tenant office building in Palm Beach Gardens, Florida. The Walgreens has very rare 10 percent increases every 10 years beginning in 2028. The Eight Tenant, 11,208 square foot office building has a wait list as commercial development is very limited and restricted in this affluent part of Palm Beach County. An investor has the opportunity to acquire a Trophy Absolute NNN Leased Walgreens Ground Lease and Office Space in one of the most affluent neighborhoods of Florida. The subject property is situated on a large 2.26 Acre Parcel with excellent vehicular exposure to Donald Ross Road and Central Boulevard with combined Traffic Counts Exceeding 51,867 vehicles per day. The three-mile population has an average household income exceeding $155,374 per year.
Palm Beach Gardens, a signature city of luxury and tranquility, is known as Florida’s Golf Capital. Just inland from the coast you will find more than a dozen courses and some of the best in the game. It is headquarters to the Professional Golfers Association of America and is a scenic area of perfectly landscaped gardens, privacy and abundant wealth.
The subject property is located directly across from Alton Town Center, a 350,000 square foot mixed use development with power/big box, entertainment/lifestyle and retail components. There are also numerous other national retailers in the immediate area including Publix, Bank of America, Truist, PNC Bank, Wells Fargo, McDonalds and Dunkin Donuts.
Walgreens, the second-largest pharmacy chain in the United States, was recently taken private following its acquisition by Sycamore Partners. This transition marks an important new chapter, enabling the company to operate with greater flexibility while maintaining its scale and national presence. With nearly 8,100 locations across all 50 states, Walgreens continues to dominate key markets such as Milwaukee, where it has a long history and deep customer loyalty. Under private ownership, the company is positioned to sharpen its focus on core retail and healthcare operations, reinforcing the stability of this corporate-guaranteed lease and providing investors with confidence in long-term performance.