1621 S Division St
Guthrie, OK 73044
Walgreens | 12.5 Yrs | 6.75 CAP | NNN · Retail Property For Sale

We are pleased to present for sale the opportunity to acquire the Walgreens property located in the Oklahoma City area of Guthrie, Oklahoma. This property is available for purchase and operates on an absolute net lease basis with approximately ±12.5 years remaining on the lease term and 50 years in options to follow and no landlord responsibilities whatsoever. Income guaranteed by Walgreens corporation which has an investment grade credit rating of BBB (S&P) and is a top 20 Fortune 500 company with approximately 9,500 locations. This Walgreens is the only drugstore in the main Guthrie trade area with the nearest national chain drugstore over 13 miles away. Purchase is subject to buyer assuming the current interest only loan with a balance of $2,742,750 and a monthly debt service of $11,016. Cash required for down payment is $1,494,286 and annual cash flow after debt service is $153,807 for a cash on cash return of 10.29%. Loan is non-recourse and there is a one percent (1%) assumption fee paid by buyer. Loan due date is 1/25/2028. This property is located on the main retail corridor of Guthrie directly across the street from a Walmart Supercenter and other national retailers. The nearest mail retail corridor is over 19 miles south. The Guthrie Historic District is a National Historic Landmark District encompassing approximately 2,000 buildings in the commercial core of the city and is a significant tourism draw. Subject property is located in the suburb of Guthrie, approximately 32 miles north of downtown Oklahoma City within the Oklahoma City Metropolitan Area. The Oklahoma City MSA is the largest metropolitan area in the state of Oklahoma with about 1,500,000 residents.