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32798 Walker Rd
Avon Lake, OH 44012
Walgreens · Retail Property For Sale
Investment Highlights
- Corporate-backed Walgreens with drive-thru in a proven14,990 SF location generating $224,595 in annual NOI
- Attractive 8.63% cap rate at $2,600,000 — compelling pricing relative to replacement cost and recent comparable Walgreens sales
- Through March 31, 2067 with corporate guarantee by Walgreens (Sycamore Partners)
- Affluent Avon Lake suburb with $115,567 median household income, steady population growth, and active new home construction
- Tenant pays all taxes, insurance, and maintenance
- High-visibility NWC of Route 83 & Walker Road with excellent traffic and access
Executive Summary
Avon Lake, Ohio stands out as a premier suburban market for pharmacy retail, offering a rare combination of strong demographics, sustained population growth, rising affluence, and active new home construction. Located at the highly visible northwest corner of Route 83 and Walker Road, this modern Walgreens store is perfectly positioned to serve a growing, high-income community with exceptional pharmacy demand. This property represents an outstanding investment in a thriving, affluent suburban market where pharmacy demand is both stable and expanding. Ideal for local investors and 1031 exchange buyers seeking long-term cash flow in a high-quality community.
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,990 SF
Building Class
B
Year Built
2001
Price
$2,600,000
Price Per SF
$173.45
Cap Rate
8.64%
NOI
$224,595
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
2.16 AC
Zoning
C - Commercial
Parking
75 Spaces (5 Spaces per 1,000 SF Leased)
Frontage
125’ on Walker Rd
Amenities
- Pylon Sign
- Signage
- Drive Thru
Property Taxes
| Parcel Number | 04-00-018-128-217 | Improvements Assessment | $583,195 |
| Land Assessment | $288,684 | Total Assessment | $871,878 |
Property Taxes
Parcel Number
04-00-018-128-217
Land Assessment
$288,684
Improvements Assessment
$583,195
Total Assessment
$871,878
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