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Walgreens 698 Minot Ave 11,180 SF Retail Building Auburn, ME 04210 $2,245,000 ($200.81/SF) 7.35% Cap Rate
Investment Highlights
- The offering is a single-tenant Walgreens store located in Auburn, which is ~30 miles northeast of Portland, ME
- Walgreens executed an early 10-year extension back in 2019, which takes the current term through 05/31/2032
- Minimal landlord expense obligations; the roof was resurfaced in 2025
- Walgreens is currently paying a low base rent of $165,000, and an investor benefits from a contractual rent bump effective 06/01/2027
- There are five, 5-year extension options with 5% rental increases at the start of each option
- This is the only Walgreens store in the city of Auburn, and there is zero national pharmacy competition in the immediate area
Executive Summary
Property Facts
Amenities
- Pylon Sign
- Drive Thru
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- -
Walgreens is a major U.S. pharmacy and retail chain founded in 1901 in Chicago, Illinois. The company operates thousands of locations across the United States, providing prescription medications, over-the-counter drugs, health and wellness products, and convenience items. Walgreens also offers services such as immunizations, health screenings, and photo processing. The company has expanded its healthcare offerings through partnerships and in-store clinics, aiming to integrate pharmacy services with broader health solutions. Walgreens is part of Walgreens Boots Alliance, a global pharmacy-led health and wellbeing enterprise.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | - |
Property Taxes
| Parcel Number | AUBN-000208-000000-000143 | Improvements Assessment | $939,600 |
| Land Assessment | $251,300 | Total Assessment | $1,190,900 |
Property Taxes
Presented by
Walgreens | 698 Minot Ave
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