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Auction - Feb 16-18 | Former Walgreens 7201 Castor Ave 14,525 SF Retail Building Philadelphia, PA 19149 $1,500,000 ($103.27/SF)
INVESTMENT HIGHLIGHTS
- Walgreens (dark) rent continues through 2035 (income security + upside potential)
- High-visibility placement on Castor Avenue with excellent signage presence
- Surrounded by established national and regional retailers, supporting consistent traffic
- Freestanding ±14,525 SF building with expansive surface parking
- Dense Northeast Philadelphia population: 684,496 residents within 5 miles and strong household incomes exceeding $84,000 average
- Flexible retail layout — ideal for grocery, medical, fitness, value retail, or neighborhood services
EXECUTIVE SUMMARY
Starting Bid: $1,500,000
Auction Event: February 16-18, 2026
7201 Castor Avenue presents a unique net-lease investment and strategic repositioning opportunity in the heart of Northeast Philadelphia’s Castor Avenue retail corridor. The ±14,525 SF freestanding Walgreens benefits from excellent street visibility, a dedicated parking lot, and strong surrounding retail synergy. The trade area is highly populated with more than 684,000 residents within a five-mile radius, offering a stable consumer base and consistent traffic drivers.
The property is currently dark, but the tenant continues to pay rent through 2035, providing durable income while an investor plans long-term repositioning or redevelopment. With strong area demographics and an adaptable building footprint, this asset offers multiple value-creation strategies — including lease-up to a new user or exploring higher-and-best-use alternatives that capitalize on the site’s high-visibility location.
PROPERTY FACTS
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
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- Retailer
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Jan 0000
Walgreens, founded by Charles Rudolph Walgreen in 1901 in Chicago, is a major U.S. pharmacy and retail chain operating under the publicly traded parent, Walgreens Boots Alliance (NASDAQ: WBA). Headquartered in Deerfield, Illinois, it provides prescription services, health and wellness products, photo services, and expanded healthcare offerings including immunizations and diagnostic screenings. As of late 2025, the company operated thousands of retail locations across the United States and Puerto Rico, serving roughly 78% of Americans within five miles of a store. Walgreens maintains omnichannel operations—blending in-store, online, drive-thru, and home delivery services—and has strategic healthcare partnerships, notably with VillageMD. Under the direction of new CEO Mike Motz, following the August 2025 purchase by Sycamore Partners, Walgreens continues to emphasize core pharmacy execution, digital innovation, and integrated care solutions.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
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Retailer | - | - | Jan 0000 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 882396400 | Improvements Assessment | $3,560,000 |
| Land Assessment | $890,000 | Total Assessment | $4,450,000 |
PROPERTY TAXES
CONTACTS
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Victoria Fisher -
Jim Evans -
Ian Grusd -
Connor Curtin -
Bryce Dunks -
Marcus & Millichap
