Walgreens

Highlights:

• 10.5+ years remaining on 15 year Absolute NNN Lease with Zero Landlord Responsibilities
• Recent 15 year Lease renewal in 2022 with 5% rent increases every 5 years during each 5 yr renewal option demonstrates commitment to the location
• Elk City, Oklahoma is famous as a hub for oil and gas in the Anadarko Basin and as a prominent stop on Historic U.S. Route 66.

Description:

Marcus & Millichap is pleased to exclusively present for sale this Absolute Net Leased Walgreens located at 115 W 115 W 3rd Street, Elk City OK 73644 in Beckham county, a highly desirable area approximately 115 miles outside the Oklahoma City Metropolitan Statistical Area.

Built in 2005, the Property is situated on Route 66 and features a freestanding 14,568 sf building with drive through on a 1.74-acre parcel on a hard signalized corner.

Walgreens recently executed a new 15-year absolute NNN lease, demonstrating its long-term commitment to this location. The lease commenced on March 15, 2022, and extends through March 14, 2037, providing investors with more than 10.5+ years of remaining lease term. The lease features attractive 5 percent rental increases every five years throughout both the initial term and all twelve (12) five-year renewal options, providing built-in income growth, predictable long-term cash flow, and zero landlord responsibilities. Walgreens is one of the largest pharmacy and retail healthcare providers in the United States, operating more than 8,700 locations across all 50 states and Puerto Rico. Each day, the company serves millions of customers and patients through an integrated pharmacy and retail platform that combines in-store healthcare services with digital and omnichannel capabilities. In 2025, Walgreens was taken private by Sycamore Partners, alongside longtime investor Stefano Pessina and family, positioning the company to execute long-term strategic initiatives outside the public markets

Major Elk City employers include Great Plains Regional Medical Center, Halliburton, DXP Enterprises, Bronco Oilfield Services, Schlumberger and Conoco Phillips.

Elk City, Oklahoma is famous as a hub for oil and gas in the Anadarko Basin and as a prominent stop on Historic U.S. Route 66. It is best known for the massive National Route 66 Museum, the towering 17-story Parker Drilling Rig #114 (one of the world's tallest oil rigs), and deep cowboy and rodeo heritage. Driving from Oklahoma City to Elk City is about 115 miles west on I-40 West and drivetime is typically 1 hour and 45 minutes. Elk City is the principal center of trade for Western Oklahoma and part of the Texas Panhandle, with a 60-mile trade radius that serves more than 50,000 people. Petroleum, agriculture, wind energy, transportation, tourism, manufacturing, and healthcare all contribute to Elk City's economy.

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