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2008 Walgreen's With Drive Thru Pharmacy 40 N Meridian Rd 14,820 SF Retail Building Youngstown, OH 44509 $3,994,000 ($269.50/SF) 8.56% Cap Rate
Investment Highlights
- +/- 8 years left on the initial term of the lease with over $2.5M of remaining rent to be paid to the landlord which is guaranteed by Walgreens Corp.
- NNN lease, Walgreens is responsible to take care of any and all maintenance and repairs needed, leaving the Landlord with ZERO RESPONSIBILITIES.
- Located near other national tenants.
- Landlord is collecting $342,000 a year ($28,500 monthly) in guaranteed rent until end of 2033.
- Absolute NNN - Zero Landlord Responsibilities - Fee Simple Ownership & ideal for an investor looking for an extremely passive and secure investment.
- Great visibility & located in an area along a main retail thoroughfare.
Executive Summary
SUBMIT ALL OFFERS!!
Alliance Investment Real Estate Group is pleased to present an opportunity to purchase this single-tenant, Absolute NNN leased Walgreen's (Dark location - but Walgreens is still obligated to pay $342,000 a year until end of 2033) with a drive-thru pharmacy that was built in 2008. There is approx. 8 years left on the initial term of the lease (with 50 years of renewal options to extend) and over $2.5M of remaining rent to be paid to the landlord which is guaranteed by Walgreens Corporation (NYSE:WBA) making the guarantee one of the strongest in all Single Tenant Net Leases. Walgreens is ranked #27 on the Fortune 500 list as January 2025. Walgreens hasn’t missed a rent payment and the landlord is collecting $342,000 a year ($28,500 a month) in rent. Being a true NNN lease, Walgreens is responsible to take care of any and all maintenance and repairs needed, leaving the Landlord with ZERO RESPONSIBILITIES — ideal for an investor looking for an extremely passive and secure investment.
NO OFFERS WILL BE CONSIDERED OR ACCEPTED BEFORE CALLING US FIRST TO DISCUSS AT: 949-250-0400.
Agent/Broker of Record takes no responsibility for the accuracy of any of the information disclosed. All information is deemed to be reliable, however, buyer to verify all information & to conduct their own due diligence. Ohio Broker of Record: Dan Cooper, Broker License # BRKP.2009003618
Alliance Investment Real Estate Group is pleased to present an opportunity to purchase this single-tenant, Absolute NNN leased Walgreen's (Dark location - but Walgreens is still obligated to pay $342,000 a year until end of 2033) with a drive-thru pharmacy that was built in 2008. There is approx. 8 years left on the initial term of the lease (with 50 years of renewal options to extend) and over $2.5M of remaining rent to be paid to the landlord which is guaranteed by Walgreens Corporation (NYSE:WBA) making the guarantee one of the strongest in all Single Tenant Net Leases. Walgreens is ranked #27 on the Fortune 500 list as January 2025. Walgreens hasn’t missed a rent payment and the landlord is collecting $342,000 a year ($28,500 a month) in rent. Being a true NNN lease, Walgreens is responsible to take care of any and all maintenance and repairs needed, leaving the Landlord with ZERO RESPONSIBILITIES — ideal for an investor looking for an extremely passive and secure investment.
NO OFFERS WILL BE CONSIDERED OR ACCEPTED BEFORE CALLING US FIRST TO DISCUSS AT: 949-250-0400.
Agent/Broker of Record takes no responsibility for the accuracy of any of the information disclosed. All information is deemed to be reliable, however, buyer to verify all information & to conduct their own due diligence. Ohio Broker of Record: Dan Cooper, Broker License # BRKP.2009003618
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,820 SF
Building Class
B
Year Built
2008
Price
$3,994,000
Price Per SF
$269.50
Cap Rate
8.56%
NOI
$342,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
1.71 AC
Opportunity Zone
Yes
Zoning
B-2
Parking
56 Spaces (3.78 Spaces per 1,000 SF Leased)
Frontage
97’ on Meridian Rd
Amenities
- Signage
- Drive Thru
Property Taxes
| Parcel Numbers | Improvements Assessment | $461,620 | |
| Land Assessment | $150,540 | Total Assessment | $612,160 |
Property Taxes
Parcel Numbers
Land Assessment
$150,540
Improvements Assessment
$461,620
Total Assessment
$612,160
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2008 Walgreen's With Drive Thru Pharmacy | 40 N Meridian Rd
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