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Walgreens 124 E North St 14,820 SF Retail Building Kendallville, IN 46755 $3,437,838 ($231.97/SF) 9.25% Cap Rate

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INVESTMENT HIGHLIGHTS

Absolute NNN Walgreens with 7.5 years of term remaining | Corporate guarantee
Limited competition | Only Walgreens location within a 10+ mile radius
Situated across the street from Cornerstone Plaza which ranks in the top 20% of strip center in Indiana by visits (Placer.ai)

Tenant has been operating at this location since 2008 and has 7.5 years of term remaining
Nearly 130ft of frontage along E North St which sees 18,192 vehicles per day

EXECUTIVE SUMMARY

This Walgreens investment features a corporate-guaranteed absolute NNN lease with 7.5 years remaining, offering complete passivity and long-term stability. The tenant has operated at this high-traffic location since 2008 and faces no nearby competition, with the nearest Walgreens over 10 miles away. Positioned along E North Street with strong visibility and over 18,000 vehicles per day, the site benefits from nearby retail drivers like Cornerstone Plaza and Publix Village Square, which attract nearly 2 million annual visitors. With a five-mile average household income of $80,851, this property combines reliability, strong demographics, and minimal competition.

Walgreens Kendalville IN Brochure

PROPERTY FACTS

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Drug Store

Building Size

14,820 SF

Building Class

Year Built

2008

Price

$3,437,838

Price Per SF

$231.97

Cap Rate

9.25%

NOI

$318,000

Tenancy

Single

Building Height

1 Story

Building FAR

0.19

Lot Size

1.84 AC

Zoning

C-1B - General Retail

Parking

77 Spaces (5.2 Spaces per 1,000 SF Leased)

Frontage

273’ on Main St.

Wheelchair Accessible

Air Conditioning

Retailer
-
$9.99
Lorem Ipsum
Jan 0000

Walgreens is a trusted and convenient local health destination that millions of Americans rely on every day. Their founder, Charles R. Walgreen Sr., was known for finding new ways to connect with customers on a personal level and treating each person like a guest in his own home. For over a century, they have expanded that personal connection through their network of neighborhood pharmacies and their innovative health services and products. The foundation for all of this is their trusted pharmacy expertise, and their team members who provide essential care that helps people achieve better health outcomes at an affordable cost.