Single-Tenant Vacant-User
AUCTION - Walgreens (Dark)
7201 Castor Ave, Philadelphia, PA 19149
Starting Bid: $1,500,000
Investment Overview
Register to bid and access due diligence documents on RealINSIGHT Marketplace: https://rimarketplace.com/auction/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.
AUCTION - Walgreens (Dark)
Investment Highlights
- Auction—February 16-18, 2025 | Starting Bid: $1,500,000
- 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
Auction Advisors
Broker of Record
-
Timothy B. Stephenson Jr.
Managing Director, Market Leader - Philadelphia
Starting Bid: $1,500,000
Investment Highlights
- Auction—February 16-18, 2025 | Starting Bid: $1,500,000
- 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
Investment Overview
Register to bid and access due diligence documents on RealINSIGHT Marketplace: https://rimarketplace.com/auction/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.
Auction Advisors
Broker of Record
-
Timothy B. Stephenson Jr.
Managing Director, Market Leader - Philadelphia
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