102 Philip AveNorth Platte, NE 69101

For Sale
$5,159,783

High-Performing Drugstore in Nebraska

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional investment opportunity presents a fee-simple, absolute NNN leased Walgreens in North Platte, Nebraska. The 14,812 square foot property, built in 2009 and situated on a 1.56-acre lot at 102 E Philip Ave (zip code 69101), boasts a strong 7.85% cap rate and a substantial NOI of $405,043. The lease with Walgreens, the only national chain drugstore within a 100-mile radius, extends until January 31, 2035, offering a remaining term of 10.2 years. The property benefits from its location near major transportation arteries (I-80, Hwy-30, Hwy-83), a large regional trade area, and proximity to significant developments such as the $75 million District 177 mixed-use project (including retail and residential components) across the street and the Great Plains Health Hospital (116 beds, 1,000+ employees, 183,000 monthly patient encounters) less than a mile away. Further enhancing the investment's appeal is its location near Union Pacific's Bailey Yard and the upcoming Sustainable Beef facility, projected to add 875 jobs. The property's high occupancy (100%) and exceptional sales history make it a compelling investment with significant long-term potential. The asking price is $5,159,783, translating to a price per square foot of $348.35.

Highlights

  • Walgreens boasts strong sales and a 14+ year operating history.
  • The property enjoys a dominant market position, with the nearest competing national drugstore (CVS) 91 miles away.
  • Across the street is the $75 million District 177 redevelopment, featuring 96 apartments and ~480,000 SF of retail space.
  • Great Plains Health Hospital, a 116-bed facility employing 1,100 and seeing 183,000 patients monthly, is just one mile away.
  • Sustainable Beef's new $325 million, 500,000 SF facility (opening Summer 2025) is 2.5 miles away and will add 875 jobs.
  • The property sits in a dense retail area with 1.6 million square feet of retail within a one-mile radius.

Property Details for 102 Philip Ave

Property type
Other retail properties, Individual retail properties
Square Feet
14,812 SF
Year Built
2009
Lot Size (sq. ft)
67,954 SF

Location Insight

City
North Platte
County
Lincoln
State
Nebraska
Latitude
41.12582620037
Longitude
-100.76285291801
102 Philip Ave, North Platte, Nebraska

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102 Philip Ave
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