Walgreen Co. has used its new flagship Hawaii Walgreens store on Kapiolani Boulevard to make a really big sale.

The nation’s largest drugstore chain has sold the land under the store together with an adjacent office building for $73.5 million in a deal that closed Monday.

Mark Bratton, an agent with commercial real estate firm Colliers International, which represented Walgreens, said the sale is likely a record price for a drugstore in America.

The buyer, a Los Angeles-based investment banking and wealth management firm, becomes the retailer’s landlord at the site and also now owns an opportunity to develop a residential or commercial high-rise next to the store, which opened in February with angled, glass exterior walls.

An affiliate of Salem Partners LLC paid $19.5 million for the office building site and $54 million for the Walgreens store site with a long-term provision to lease the latter back to Walgreens, according to property records.

Representatives of Salem could not be reached for comment Monday.

Walgreens offered the property for sale as a way to recoup what was a hefty investment to establish its first store in Hawaii.

The Deerfield, Ill.-based retailer spent more than $39 million acquiring the two properties several years ago.

“They realized their goal,” Bratton said. “They invested a lot of their own money to be in the trade area, and now they basically recouped it all.”

Walgreens has about 20 stores statewide. Initially for its first Hawaii store, Walgreens leased a former Tower Records building on Keeaumoku Street near the corner of Kapiolani Boulevard and converted the space into its inaugural store, which opened in 2007.

Then to secure a possible site for a bigger store, the retailer bought an adjacent office building anchored by Heald College fronting Kapiolani Boulevard in 2007 for $24 million. In 2009 Walgreens bought the land under its store and an adjacent KFC restaurant on the corner of Keeaumoku Street and Kapiolani Boulevard for $15 million.

With control of the prime corner mauka of Ala Moana Center, Walgreens demolished its initial store last year and built a new two-story flagship that includes a nail salon, a cafe serving fresh food, a beer cave, a Dole Whip kiosk and a three-level parking garage with about 200 stalls.

Walgreens designed the parking structure to support a 250-foot, or roughly 25-story, tower as a way to add value to the property. Colliers also marketed the adjacent office building site as an opportunity to build a roughly 40-story tower under interim city transit-oriented development rules because the property is within a quarter-mile of a planned rail station at Ala Moana Center.