5701 NW 183rd St
Hialeah, FL 33015
PRICE REDUCTION - Miami Walgreens · Retail Property For Sale

The Brandon Michaels Group of Marcus & Millichap is pleased to present for sale a trophy Walgreens with annual sales volume of $17 million located in Hialeah (Miami-Dade), Florida. Walgreens is located at the northwest signalized intersection of Northwest 183rd Street (Miami Gardens Drive) and Northwest 57th Avenue (Red Road) in Hialeah, Florida. The signalized corner location has high traffic counts reaching 89,110 vehicles per day. Walgreens is ideally situated on 1.99 acres of land, creating a unique opportunity to acquire one of the best performing Walgreens in the country with long term development potential. The subject property includes a drive-thru pharmacy and benefits from excellent parking (85 spaces), outstanding visibility, and exceptional accessibility. Directly across from Walgreens are multiple national retailers including Ross Dress for Less, Dollar Tree, Walmart, McDonald’s, Lowe’s and others. Walgreens has occupied this property since 1997 and recently extended the lease term by 10 years. The lease is double net and expires in October 2027 with eight (8) five (5) year options. Walgreens currently has an annual sales volume of $17 million at this location, making this one of the best performing stores in the country. The City of Hialeah is the sixth largest municipality in Florida, serving over 224,000 residents living in approximately 20-square miles. Hialeah sits in the heart of northwest Dade, and has access to every major thoroughfare (I-75, Palmetto Expressway, Florida Turnpike, US 27 (Okeechobee Road). Hialeah borders Opa-Locka, Miami and Miami Lakes and provides direct business access to both Opa-Locka Airport and Miami International Airport. Walgreens is one of the largest drug retail chain in the United States. The lease is backed by a corporate guarantee with investment grade credit rated of BBB by Standard & Poor’s. Walgreens has more than 8,000 stores in all 50 states. In December 2014, Walgreens completed its strategic combination with Alliance Boots to establish Walgreens Boots Alliance, Inc., forging the first global pharmacy-led, health and wellbeing enterprise. Annual revenue exceeds $116 billion. Through Walgreens strategic partnership with Alliance Boots, Walgreens Boot Alliance is now a global leader in pharmacy-led health and well-being, and combined have over 13,200 stores in 11 countries as well as one of the largest global pharmaceutical and wholesale distribution networks. In addition, Walgreens Boots Alliance is one of the world’s largest purchasers of prescription drugs and many other health and well-being products. The company’s size, scale, and expertise help to expand and address the rising cost of prescription drugs in the USA and worldwide.