| Purchase Price | $3,980,000 |
|---|---|
| Annual Rental Income | $318,000 |
| Cap Rate | 7.99% |
| Lease Term | 11 Years |
| City | Riverview |
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Walgreens – Riverview, FL (Tampa MSA)
This Walgreens Pharmacy in Riverview, Florida presents a high-quality, single-tenant, absolute triple-net (NNN) leased investment opportunity backed by Walgreens Boots Alliance, a Fortune 500 and investment-grade tenant. The property is located in one of the fastest-growing suburban markets of the Tampa MSA, with excellent visibility, strong demographics, and consistent consumer demand. Featuring zero landlord responsibilities, a long-term lease, and essential-use functionality, this investment offers a stable, passive income stream in a dynamic Sun Belt market.
Riverview is a booming residential hub within Hillsborough County, supported by rapid population growth, expansive suburban development, and strong economic fundamentals. This location is strategically situated along a primary retail corridor surrounded by dense housing, major employment centers, and medical infrastructure—ensuring Walgreens remains a core healthcare and convenience destination for the community.
Tenant Overview – Walgreens Boots Alliance
Walgreens is one of the most recognizable pharmacy chains in the United States and is a subsidiary of Walgreens Boots Alliance (NASDAQ: WBA), a global leader in pharmacy, health, and wellness. The company operates more than 8,000 stores nationwide and serves millions of Americans through a combination of prescription fulfillment, immunizations, telehealth services, and retail offerings.
Walgreens has aggressively expanded its healthcare integration in recent years, adding primary care services through its partnership with VillageMD and implementing digital prescription management platforms. As healthcare delivery continues to shift toward accessible, community-based solutions, Walgreens remains a critical part of the consumer healthcare ecosystem.
With a long history of honoring its leases, maintaining store profitability, and adapting to changing market conditions, Walgreens is widely considered one of the most stable tenants in the net lease investment landscape.
Lease Structure – Absolute NNN
The Walgreens lease in Riverview, FL is structured as an absolute triple-net lease, meaning the tenant is solely responsible for all property-related expenses, including real estate taxes, insurance, maintenance, and capital improvements. For the property owner, this results in a completely passive investment vehicle with no landlord obligations.
Key lease terms include:
The lease’s absolute structure, credit backing, and passive nature make it ideal for investors seeking predictable income without management duties or exposure to property-related costs.
Riverview, FL Market Overview – Tampa MSA
Riverview is a thriving suburban community located approximately 12 miles southeast of downtown Tampa. With a population of over 110,000 and growing rapidly, Riverview is part of the Greater Tampa MSA—one of the top-performing metro areas in the southeastern U.S. The area is known for its master-planned residential communities, strong employment growth, and strategic infrastructure development.
As the Tampa MSA continues to attract new residents and businesses, Riverview has emerged as a preferred destination for families, retirees, and commuters seeking affordable housing, quality schools, and access to regional job markets. The area is also home to a growing healthcare and logistics sector, creating stable employment and sustained retail demand.
Riverview’s growth is driven by a pro-business climate, increasing in-migration, and quality-of-life amenities. This supports long-term real estate appreciation and ongoing demand for essential service providers such as Walgreens.
Demographics and Economic Drivers
The Riverview Walgreens benefits from strong surrounding demographics:
These fundamentals contribute to strong foot traffic and consistent demand for the pharmacy’s core services. With more retirees, families, and professionals moving into the area, demand for healthcare, prescriptions, and wellness services continues to rise.
Retail Corridor and Property Features
The Walgreens property is located along a primary commercial corridor or hard-corner intersection, providing strong visibility, signage, and accessibility. The site features a drive-thru pharmacy window, ample surface parking, and convenient ingress and egress, all contributing to long-term operational success and tenant retention.
Site attributes include:
Properties with these attributes consistently outperform in both stable and volatile markets, especially when occupied by essential-service tenants.
Tenant Credit Strength – Walgreens Boots Alliance
Walgreens Boots Alliance maintains a strong corporate credit profile and is one of the most reliable tenants in the net lease industry. As an essential healthcare provider with consistent cash flow and broad brand recognition, Walgreens delivers dependable performance across multiple real estate types and market sizes.
Tenant highlights:
For investors seeking dependable, long-term income with credit backing, Walgreens remains one of the most attractive tenants in the market.
Investment Highlights
Conclusion
This Walgreens Pharmacy in Riverview, Florida provides a rare opportunity to own a passive, single-tenant, absolute NNN asset leased to an investment-grade healthcare retailer in one of Florida’s most dynamic suburban markets. With long-term lease stability, no management obligations, and excellent positioning in a fast-growing corridor, this property checks every box for a secure, high-quality net lease investment.
Whether you are completing a 1031 exchange, diversifying your portfolio, or seeking long-term, predictable income from a national credit tenant, this Walgreens in Riverview offers the durability, tenant strength, and market fundamentals to deliver strong returns over time.