3600 Fern Valley Rd
Louisville, KY 40219
Walgreens · Retail Property For Sale

Marcus & Millichap is pleased to present this above average performing Walgreens in Louisville, Kentucky' s most populous city. This offering is a leasehold interest with three and a half years remaining on both Walgreen' s lease and the ground lease. Walgreen' s lease runs coterminous with the ground lease, and both leases feature eight, five-year options with rent increases. Walgreens has 4 percent rent increases in the first, third, fifth, and seventh renewal options and the ground rent increases by 10 percent in first, third, fifth, and seventh renewal options. This lease has a corporate guaranty from Walgreen Co, a fortune 500 company that did $117-billion in sales in 2016. Walgreens is located one off the signalized, hard corner intersection of Fern Valley Road and Preston Highway, which sees more than 53,000 Vehicles per Day. This asset is also two miles from Louisville International Airport, the seventh busiest cargo airport in the world, and third busiest in the United States. In less than two miles from this asset,there is more than two and a half million square feet of retail. Within five miles of this asset, there are more than 200,000 people and more than 84,000 households. Other retailers in the vicinity include: Sam' s Club, Home Depot, Kroger, PetSmart, AutoZone, LA Fitness, Dillard' s, J.C. Penny, Sears, and More.