333 Atwells Ave, Providence, RI 02903

THE ASSET: Walgreens is located on the first floor of a mixed-use condominium development located at 333 Atwells Ave. Walgreens enjoys outstanding frontage and visibility along the ground floor and has the exclusive use of thirty-seven (37) surface parking spaces adjacent to the store (marked with Walgreens signage).

LONG TERM LEASE: Walgreens has 7+ years remaining on their absolute triple net lease followed by fifty (50), 1-year renewal options.

ZERO MANAGEMENT RESPONSIBILITIES: The Walgreens lease is absolute triple net and requires zero management responsibilities making it an attractive fee simple investment for the passive real estate investor.

CORPORATE LEASE: The lease is guaranteed by Walgreens corporate. In March 2025, the company announced that it had agreed to be acquired by Sycamore Partners for $10 billion.

STRATEGIC RETAIL LOCATION: The Property is situated along Atwells Avenue, one of Federal Hill’s primary commercial and commuter corridors. The Property is a short walk from area grocers, and Providence’s Central Business District with its myriad of high-rise office towers, hotels, restaurants and points of interest including Providence City Hall, the Providence Riverwalk, Providence Station, Providence Performing Arts Center, and Providence Children’s Museum.

The Property is close to Providence Place, a Regional Mall with 140 stores and restaurants in 1.4 million square feet (1.2-miles), The Rhode Island Convention Center (0.8-miles), the Amica Mutual Pavilion (Arena) (0.7-miles), and the Rhode Island State House and government office buildings (1.2-miles). The Property is also within 1.7-miles of the Rhode Island Hospital, the Hasbro Children’s Hospital, and the Roger Williams Medical Center. Walgreens is positioned along the municipal bus line, is a short walk from Broadway, and enjoys convenient access to US Route 6, US Route 1 and Interstate 95.

PROXIMITY TO AREA COLLEGES: Providence is home to several colleges and universities including Brown University, Johnson & Wales University, Rhode Island College, Rhode Island School of Design, Roger Williams University and the University of Rhode Island.

RETAIL TRADE AREA: Additional national retailers drawing traffic to the trade area include Providence Place Mall, Price Rite Marketplace, Aldi, Farm Fresh Rhode Island, Planet Fitness, O’Reilly Auto Parts, AutoZone, Family Dollar, Starbucks, McDonald’s, Burger King, Wendy’s, KFC, Popeyes, IHOP and Dunkin’.

TRAFFIC COUNTS: More than 19,600 vehicles pass the property daily along Atwells Avenue.

STRONG DEMOGRAPHICS: Approximately 44,700 people live within 1-mile of the Property with an average household income of $90,905. An impressive 243,500 people live within 5-miles of the Property. Additionally, there are more than 42,000 employees within 3-miles of the Property.