Walgreens Absolute NNN Lease | Across from 346 Bed Hospital
Retail | 7.50% CAP | 15,120 SqFt
Marketing description
Marcus & Millichap is pleased to present for sale this Absolute Net Leased Walgreens located at 1251 4th Street SW in Mason City, Iowa, a regional hub known for its healthcare, retail, and education sectors. The subject property consists of a 15,120 SF free-standing building with a drive-thru, situated on a 1.48-acre parcel at a hard-corner, signalized intersection with over 27,000 vehicles per day.
Mason City, with a population of 27,338, is part of the larger Mason City Statistical Area, encompassing Cerro Gordo and Worth Counties. The Winnebago River runs southeast of the city, and Clear Lake, a popular recreational destination, is nearby. The area’s economy is anchored by MercyOne North Iowa Medical Center, the largest employer in the region, serving 14 counties and driving significant daytime traffic.
The property benefits from proximity to major national retailers, including Walmart, Hobby Lobby, Hy-Vee Grocery Store, Planet Fitness, Aldi, and Menards, reinforcing the strength of the surrounding retail corridor. Additionally, North Iowa Area Community College (2,500 students) is nearby, further contributing to local foot traffic.
This Absolute NNN Lease requires zero landlord responsibility, making it a passive investment opportunity backed by a Walgreens corporate guarantee (NYSE: WBA). The current lease term runs through January 31, 2027, and has ten (10) fiveyear renewal options, providing long-term stability.
Walgreens Boots Alliance (NASDAQ: WBA) operates over 12,700 stores across all 50 U.S. states, the District of Columbia, Puerto Rico, and Guam, along with worksite health centers, home care facilities, and specialty and mail service pharmacies. In fiscal year 2024, the company reported $147.7 billion in revenue reflecting continued strength in its healthcare and retail segments.
Investment highlights
■ Walgreens Corporate Guarantee (NYSE: WBA)
■ Absolute NNN Lease | Zero Landlord Responsibility
■ Across the Street from MercyOne North Iowa Medical Center, a 346 Bed Regional Referral Teaching Hospital
■ Strong Regional Medical Hub – MercyOne North Iowa Medical Center, the Largest Employer in the Region, Serving 14 Counties ■ Situated at a Hard Corner Signalized Intersection with More than 23,300 Vehicles Per Day Traffic Counts
■ Surrounding Retailers Include - Walmart, Hobby Lobby, Hy-Vee, Planet Fitness, Aldi, Menards and more
■ Close Proximity to Educational Institutions – North Iowa Area Community College (2,500 students)
■ Located Near Clear Lake & Winnebago River – Contributing to steady local and visitor traffic
■ Fee Simple Allowing for Depreciation
■ Large 1.48-Acre Parcel
■ Drive-Thru Pharmacy
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