Walgreens | 9 Years of Term | Philadelphia Metro Area

Highlights:

• Walgreens (dark) rent continues through 2035 (income security + upside potential)
• Freestanding ±14,525 SF building with expansive surface parking
• High-visibility placement on Castor Avenue with excellent signage presence
• Dense Northeast Philadelphia population: 684,496 residents within 5 miles and strong household incomes exceeding $84,000 average
• Surrounded by established national and regional retailers, supporting consistent traffic
• Flexible retail layout — ideal for grocery, medical, fitness, value retail, or neighborhood services

Description:

Ri Marketplace Online Auction February 16th-18th, 2026
Register to bid on Marketplace:

https://rimarketplace.com/auction/2942/walgreens-9-years-of-term-philadelphia-metro-area?utm_source=brevitas&utm_medium=listing&utm_campaign=external&utm_content=retail_2942

7201 Castor Avenue presents a unique net-lease investment and strategic repositioning opportunity in the heart of Northeast Philadelphia’s Castor Avenue retail corridor. The ±14,525 SF freestanding Walgreens benefits from excellent street visibility, a dedicated parking lot, and strong surrounding retail synergy. The trade area is highly populated with more than 684,000 residents within a five-mile radius, offering a stable consumer base and consistent traffic drivers.

The property is currently dark, but the tenant continues to pay rent through 2035, providing durable income while an investor plans long-term repositioning or redevelopment. With strong area demographics and an adaptable building footprint, this asset offers multiple value-creation strategies — including lease-up to a new user or exploring higher-and-best-use alternatives that capitalize on the site’s high-visibility location.


Timothy Stephenson
Marcus & Millichap
PA License: RMR006104
The platform fee for this transaction is the greater of 5.00% or a minimum of $25,000.

Documents: