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Absolute NNN Leased Walgreens 859 E Main St 14,478 SF Retail Building Lancaster, OH 43130 $3,000,000 ($207.21/SF) 12.34% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute NNN Lease
- Corporate Guarantee: National Credit Tenant – Walgreens
- Surrounded by National Retailers – Kroger, McDonald’s, Advance Auto Parts, Taco Bell, Burger King
- Zero Landlord Responsibilities
- High-Traffic Retail Corridor – 19,282 VPD Along East Main St
- Strong Medical Presence – Fairfield Medical Center and OhioHealth Physician Group
EXECUTIVE SUMMARY
The Kase Group is pleased to present an exceptional opportunity to acquire a Walgreens property located in Lancaster, Ohio. The asset is secured by a 25-year Absolute NNN Lease with zero landlord responsibilities. The lease commenced in April 2005 and is set to expire in May 2030, with ten, 5-year renewal options, providing significant long-term stability.
The property benefits from a prime retail location in one of Lancaster’s most established and commercially active corridors, with 19,282 vehicles per day (VPD) traveling along East Main Street. The surrounding trade area features a strong mix of national retailers, essential services, and educational institutions. Nearby brands and service providers include Kroger, Advance Auto Parts, McDonald’s, Burger King, and Taco Bell, all contributing to consistent daily traffic and consumer demand. Healthcare services are anchored by Fairfield Medical Center and OhioHealth Physician Group, which help sustain a stable daytime population. Educational institutions in close proximity include Lancaster High School (1,700 students) and East Elementary School (450 students).
In Association with ParaSell, Inc. | A Licensed Ohio Broker #REC.2020005946
The property benefits from a prime retail location in one of Lancaster’s most established and commercially active corridors, with 19,282 vehicles per day (VPD) traveling along East Main Street. The surrounding trade area features a strong mix of national retailers, essential services, and educational institutions. Nearby brands and service providers include Kroger, Advance Auto Parts, McDonald’s, Burger King, and Taco Bell, all contributing to consistent daily traffic and consumer demand. Healthcare services are anchored by Fairfield Medical Center and OhioHealth Physician Group, which help sustain a stable daytime population. Educational institutions in close proximity include Lancaster High School (1,700 students) and East Elementary School (450 students).
In Association with ParaSell, Inc. | A Licensed Ohio Broker #REC.2020005946
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,478 SF
Building Class
B
Year Built
2005
Price
$3,000,000
Price Per SF
$207.21
Cap Rate
12.34%
NOI
$370,200
Tenancy
Single
Building Height
1 Story
Building FAR
0.28
Lot Size
1.17 AC
Opportunity Zone
Yes
Parking
57 Spaces (3.94 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Pylon Sign
- Signalized Intersection
- Drive Thru
Walk Score®
Very Walkable (70)
Bike Score®
Very Bikeable (70)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 05-35104-600 | Improvements Assessment | $334,270 |
| Land Assessment | $161,320 | Total Assessment | $495,590 |
PROPERTY TAXES
Parcel Number
05-35104-600
Land Assessment
$161,320
Improvements Assessment
$334,270
Total Assessment
$495,590
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Absolute NNN Leased Walgreens | 859 E Main St
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