14,971 SF Drug Store For Sale — $5,200,000 — 4509 Summit Blvd, West Palm Beach – #82993

Executive Summary
CBRE is pleased to present a rare investment opportunity to acquire a Walgreens-occupied net lease retail property located at 963 South Military Trail in West Palm Beach, Florida. This property is positioned with excellent access and visibility at the corner of the signalized intersection of South Military Trail (48,000 VPD) and Summit Boulevard (23,800 VPD), and is 1 mile south from the on-ramp to Southern Boulevard (70,000 VPD).
The 15,034-square-foot building sits on 1.79 acres and is leased to Walgreen Co. through February 2031 with six, 5-year renewal options that are automatically renewed. Walgreens' original 20-year term was set to expire in 2019 but the lease was extended through 2031 and now has approximately 4.8 years of term remaining.
As a leading retailer and one of the largest purchasers of prescription drugs in the world, Walgreens is consistently among the largest U.S. companies by revenue and ranks #26 on the 2025 Fortune 500 list. In September 2025, Walgreens was taken private by Sycamore Partners, a private equity firm specializing in consumer and retail-related investments.

Allowed by right

Adult Entertainment (DRO site-plan review), Assembly Institutional Nonprofit (DRO site-plan review), Assembly Membership Nonprofit (DRO site-plan review), Bed and Breakfast (DRO site-plan review), Car Wash (DRO site-plan review), Catering Service (DRO site-plan review), Cocktail Lounge (DRO site-plan review), College or University (DRO site-plan review), Convenience Store (DRO site-plan review), Data and Information Processing (DRO site-plan review), Day Care General (DRO site-plan review), Day Care Limited (DRO site-plan review), Dispatching Service (DRO site-plan review), Dog Day Care (DRO site-plan review), Electric Distribution Substation (DRO site-plan review), Entertainment, Indoor (DRO site-plan review), Financial Institution (DRO site-plan review), Financial Institution with Drive-Through Facilities (DRO site-plan review), Financial Institution – Freestanding ATM (DRO site-plan review), Fitness Center (DRO site-plan review), Flea Market, Indoor (DRO site-plan review), Funeral Home (DRO site-plan review), Government Services (DRO site-plan review), Green Market (DRO site-plan review), Hospital (DRO site-plan review), Hotel or Motel (DRO site-plan review), Kennel, Type 3 (Commercial Enclosed) (DRO site-plan review), Large Family Child Care Home (DRO site-plan review), Minor Utility (DRO site-plan review), Multi-Media Production (DRO site-plan review), Nursery, Retail (DRO site-plan review), Park, Neighborhood Infill (DRO site-plan review), Park, Passive (DRO site-plan review), Park, Public (DRO site-plan review), Place of Worship (DRO site-plan review), Produce Stand (DRO site-plan review), Repair and Maintenance, Heavy (DRO site-plan review), Repair and Maintenance, Light (DRO site-plan review), Research and Development (DRO site-plan review), Restaurant, Type 1 (DRO site-plan review), Restaurant, Type 2 (DRO site-plan review), School – Elementary or Secondary (DRO site-plan review), Self-Service Storage, Limited Access (DRO site-plan review), Self-Service Storage, Multi-Access (DRO site-plan review), Single Room Occupancy (SRO) (DRO site-plan review), Skilled Nursing or Residential Treatment Facility (DRO site-plan review), Vehicle Sales and Rental, Light (DRO site-plan review), Veterinary Clinic (DRO site-plan review), Work/Live Space (DRO site-plan review)

With special approval

Animal Shelter, Crematory, Electric Transmission Substation, Entertainment, Outdoor, Flea Market, Outdoor, Gas and Fuel Sales, Retail, Heliport, Homeless Resource Center, Parking, Commercial, Pawnshop, Shooting Range, Indoor, Theater and Performance Venue, Transportation Facility, Type 2 Excavation, Vehicle or Equipment Sales and Rental, Heavy, Water or Wastewater Treatment Plant