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Purchase Price

$2,923,200.00

Tulsa, OK

Walgreens

For Sale

$219,240.00

ANNUAL RENT

cap rate

7.50%

Investment Highlights

Hard Corner Positioning | Adjacent to U.S. Highway Corridor | Minutes to Downtown Tulsa

  • The Property is positioned at the signalized intersection of N Lewis Avenue and E Pine Street and features two points of ingress and egress, one on each street, providing for excellent customer access.

  • Less than 1 mile from the Property, both N Lewis and E Pine connect to U.S. Hwy 75 which provides direct access to Downtown Tulsa, located approximately 3.5 miles (5 minutes) away.

Absolute NNN Lease | First Option Period Exercised | Upcoming Parking Lot Replacement

  • The Property is subject to a long-term Absolute NNN lease with Walgreens which provides for zero landlord responsibilities and a completely passive investment. The lease is backed by a corporate guarantee for added security.

  • Walgreens has operated at this location since 2002 and recently exercised their first option period, demonstrating their longstanding commitment to the location and the surrounding Tulsa market. Additionally, Walgreens intends to replace the Property’s parking lot.

Strong Daytime Workforce of 70,000+ Employees | Near Fortune 500s & Corporate Headquarters

  • The Property benefits from a strong daytime workforce, with over 70,000 employees within a 3-mile radius, many of whom pass the Property on their daily commutes to and from Downtown Tulsa.

  • Downtown Tulsa serves as the corporate headquarters for two of Oklahoma’s three Fortune 500 companies: ONEOK (NYSE: OKE) is the highest-ranked Fortune 500 company in Oklahoma at #200, while The Williams Companies (NYSE: WMB) is ranked #404.

  • Additional major companies headquartered in Downtown Tulsa include BOK Financial Corporation, ONE Gas, Magellan Midstream Partners, Vital Energy, and Helmerich & Payne.

  • Downtown Tulsa is also anchored by OSU Medical Center, the only hospital downtown and the nation’s largest osteopathic teaching hospital. The hospital is currently undergoing a $175+ million expansion, the largest healthcare investment in the city’s history.

  • The Property is located less than 1 mile from over 2.4 million sq. ft. of industrial, manufacturing, and distribution space. Companies with facilities in the area include Anheuser-Busch, Bama Companies, WEBCO Industries, and Kloeckner Metals, among many others.

Situated on Commercial Corridor Amongst National Retailers

  • E Pine Street is an established commercial corridor featuring national retailers including McDonald’s, QuikTrip, Church’s Texas Chicken, O’Reilly Auto, and AutoZone, among others.

  • Per CenterCheck, several of these neighboring national retailers rank among the strongest performers in the market, including a Family Dollar in the 99th percentile nationally with over $7.4 million in annual card sales, and a Popeyes in the 96th percentile with over $3.4 million in annual card sales.

Dense Infill Trade Area | Over 84,000 Residents Within 3 Miles | Strong Population Growth

  • The Property is situated within a dense infill trade area supporting over 12,900 residents within 1 mile and over 84,900 residents within 3 miles.

  • The immediate area has experienced strong population growth, expanding nearly 13% within 1 mile and nearly 12% within 3 miles between 2020 and 2025.

  • Area residents generate substantial retail demand, with total consumer spending exceeding $96 million within 1 mile and $783 million within 3 miles annually.

Near Local Schools and Multiple College Campuses

  • The Property is located within 1 mile of Booker T. Washington High School (1,300 students), a nationally ranked magnet school home to Oklahoma’s only public International Baccalaureate program.

  • Additional schools in the immediate area include Springdale Elementary (366 students), Celia Clinton Elementary (542 students), and Carver Middle School (658 students), among others, driving consistent daily traffic.

  • The University of Tulsa, a private research university with nearly 4,000 students, sits approximately 1 mile from the Property.

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