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Walgreens 385 Northland Blvd 14,747 SF Retail Building Springdale, OH 45240 $4,723,200 ($320.28/SF) 6.25% Cap Rate
Investment Highlights
- Long-Term Absolute NNN Lease
- Attractive Rent Escalations
- Top Performing Walgreens
- Large Parcel With Drive-Thru
Executive Summary
Surmount is pleased to present the exclusive listing for a Walgreens located at 385 Northland Boulevard, Cincinnati, OH 45240. The site consists of roughly 14,747 rentable square feet of building space on an estimated 2.57-acre parcel of land. Walgreens is subject to a 15-year Triple Net (NNN) lease, which commenced 2.23.2023. The current annual rent is $295,200 and has scheduled increases of 5.00% Every 5 Years.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,747 SF
Building Class
C
Year Built
1991
Price
$4,723,200
Price Per SF
$320.28
Cap Rate
6.25%
NOI
$295,200
Tenancy
Single
Building Height
1 Story
Building FAR
0.13
Lot Size
2.57 AC
Zoning
LRB, Springdale
Frontage
237’ on Northland Blvd
Amenities
- Pylon Sign
- Signalized Intersection
- Drive Thru
Nearby Major Retailers
Property Taxes
| Parcel Number | 599-0042-0147 | Improvements Assessment | $700,179 |
| Land Assessment | $237,776 | Total Assessment | $937,955 |
Property Taxes
Parcel Number
599-0042-0147
Land Assessment
$237,776
Improvements Assessment
$700,179
Total Assessment
$937,955
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Walgreens | 385 Northland Blvd
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