| Purchase Price | $7,950,000 |
|---|---|
| Annual Rental Income | $445,000 |
| Cap Rate | 5.60% |
| Lease Term | 17.4 Years |
| City | Edison |
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Walgreens – Edison, New Jersey (Central Jersey – New York City Suburb)
The Walgreens property located in Edison, New Jersey presents a premium net lease investment opportunity secured by one of the most recognized tenants in the nation—Walgreens Boots Alliance. Featuring an absolute triple-net (NNN) lease structure with zero landlord responsibilities and a corporate guarantee from an investment-grade tenant, this single-tenant retail asset is an ideal fit for passive investors, family offices, institutional capital, and buyers completing a 1031 exchange.
Strategically positioned in Edison, a key township within Central New Jersey and the New York City metropolitan area, this Walgreens benefits from exceptional visibility, dense demographics, high traffic counts, and long-standing demand for essential pharmacy and healthcare services. Edison is one of New Jersey’s most populous and economically robust municipalities, making it a top-tier location for long-term net lease ownership.
With its secure income stream, healthcare-resilient tenancy, and positioning in a supply-constrained and demographically attractive corridor, this Walgreens offers the rare combination of credit strength, passive cash flow, and premium real estate fundamentals.
Tenant Overview – Walgreens Boots Alliance
Walgreens Boots Alliance (NASDAQ: WBA) is a global leader in pharmacy retail and healthcare, operating more than 8,000 locations across the United States and serving over 10 million customers per day. The company continues to expand its footprint by integrating healthcare services and forming strategic partnerships to deliver chronic care, primary care, and digital health solutions alongside its traditional pharmacy offerings.
For real estate investors, Walgreens is considered one of the most desirable single-tenant net lease tenants for several reasons:
This Edison location is consistent with Walgreens’ long-term strategy of operating in high-density, high-income suburban corridors with strong infrastructure, nearby medical facilities, and limited direct competition from major healthcare retailers.
Lease Structure – Absolute NNN
The Walgreens lease at this location is an absolute triple-net (NNN) lease, providing the landlord with truly passive ownership. Walgreens is responsible for:
This structure makes the asset ideal for investors seeking hands-free income secured by one of the most stable tenants in the retail real estate sector. There are no management obligations, ongoing costs, or exposure to expense variability—providing predictable, contractual cash flow.
Typical lease terms for Walgreens include:
This lease profile is particularly attractive for retirement planning, estate holdings, family trust portfolios, and institutional fixed-income alternatives.
Edison, NJ – Market Overview
Edison is one of the most dynamic and economically significant municipalities in New Jersey. With a population exceeding 100,000, it is the fifth-largest municipality in the state and a major commercial, residential, and logistical hub. Edison is part of Middlesex County and located just 30 miles southwest of Manhattan, making it a desirable commuter suburb for New York City while maintaining a strong independent economy.
Key highlights of Edison’s market:
Edison’s centrality, quality of life, infrastructure, and business climate have made it one of the most desirable places to live and work in New Jersey. For essential-service retailers like Walgreens, Edison offers dense, recurring foot traffic, insured prescription demand, and operational efficiency through excellent logistical access.
Demographics and Demand Drivers
The Walgreens site in Edison benefits from some of the strongest demographics in the New York-New Jersey metro region. Within a 5-mile radius:
These characteristics contribute to the long-term viability of the Walgreens model. Demand is anchored not only by convenience and front-end retail but also by chronic care needs, medication management, vaccinations, and wellness product demand.
Site Overview and Real Estate Fundamentals
The property is a freestanding Walgreens building situated along a major commercial corridor with consistent daily traffic and excellent visibility. It includes features typical of the brand’s national prototype:
These fundamentals not only ensure tenant success but also enhance real estate value for long-term hold strategies. Infill locations like Edison—with limited new retail development opportunities due to zoning, density, and land cost—offer strong appreciation potential over time.
Walgreens – Corporate Credit and Industry Position
Walgreens is one of the most established and creditworthy tenants in the net lease universe. It continues to show resilience in the face of economic shifts, industry disruption, and evolving consumer preferences.
Corporate summary:
Walgreens is expanding its role in the U.S. healthcare system by integrating primary care through VillageMD clinics, adding chronic care and telehealth support, and improving digital capabilities for prescriptions, deliveries, and customer service. This evolution positions the company to retain and expand its relevance in a fast-changing healthcare and retail landscape.
Investment Summary
Conclusion
This Walgreens property in Edison, New Jersey is the definition of a blue-chip net lease asset: long-term income backed by investment-grade credit, zero management obligations, and a location in one of the most demographically and economically desirable suburbs in the greater New York City region.
For investors seeking security, scalability, and performance in a net lease acquisition, this property offers the full spectrum of attractive attributes—tenant strength, lease structure, site fundamentals, and long-term relevance. Whether for 1031 exchange, portfolio stabilization, or multi-generational investment strategy, this Walgreens represents a highly compelling offering.