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True NNN Lease- Proven Site Walgreens 14,729 SF Retail Building Richmond, IN 47374 $5,050,000 ($342.86/SF) 6.93% Cap Rate
Investment Highlights
- Single Tenant Absolute NNN Leased Walgreens – Corporate Guarantee – Richmond, IN
- Absolute Net Lease – 6.9 Firm Lease Years Remaining - No Landlord Responsibilities
- Positioned on Hard Corner Signalized Intersection of E Main St
- One of the Largest Drugstore Chains in the United States
- 75 Year Primary Term – Option to Termination Beginning in 2031
- 14,729 SF Building with Drive-Thru on Large 1.94 Acre Parcel
Executive Summary
The Snyder Carlton National Net Lease Team is pleased to offer to investors a great opportunity to acquire the single tenant absolute NNN leased Walgreens Pharmacy in Richmond, IN. Walgreens is one of the largest drugstore chains in the U.S. and operates over 9,000 Stores in all 50 states, Washington D.C., Puerto Rico and the U.S. Virgin Islands. The 75-year corporate guaranteed lease has 6.9 firm lease years remaining in the primary term with zero landlord responsibilities and potential for additional percentage rent.
The 14,729 SF standalone building with drive-thru on large 1.94-acre parcel is strategically positioned on the hard corner signalized intersection of E Main Street (Hwy 40) and 37th Street which have a combined traffic count exceeding 32,200 VPD and prospers from excellent visibility and access. Nearby retailers include Walmart Supercenter, Menards Home Improvement, Tractor Supply Co., DICK’S Sporting Goods, Kohl’s, Hobby Lobby, ALDI, Kroger, Starbucks and Chipotle.
The 14,729 SF standalone building with drive-thru on large 1.94-acre parcel is strategically positioned on the hard corner signalized intersection of E Main Street (Hwy 40) and 37th Street which have a combined traffic count exceeding 32,200 VPD and prospers from excellent visibility and access. Nearby retailers include Walmart Supercenter, Menards Home Improvement, Tractor Supply Co., DICK’S Sporting Goods, Kohl’s, Hobby Lobby, ALDI, Kroger, Starbucks and Chipotle.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
14,729 SF
Building Class
C
Year Built
2006
Price
$5,050,000
Price Per SF
$342.86
Cap Rate
6.93%
NOI
$350,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.17
Lot Size
1.94 AC
Zoning
ZO01
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- -
-
$9.99
-
Lorem Ipsum
-
Jan 0000
Walgreens is a U.S.-based retail pharmacy operator providing prescription drugs, health services, and consumer goods through neighborhood drugstores and digital platforms. The company was founded in 1901 by Charles Rudolph Walgreen in Chicago, Illinois. Over time, Walgreens expanded nationwide and became one of the largest pharmacy chains in the United States. In 2014, Walgreens became part of the newly formed holding company Walgreens Boots Alliance following the acquisition of Alliance Boots.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | - | $9.99 | Lorem Ipsum | Jan 0000 |
Nearby Major Retailers
Property Taxes
| Parcel Number | 89-16-35-000-301.001-030 | Improvements Assessment | $2,060,100 |
| Land Assessment | $290,300 | Total Assessment | $2,350,400 |
Property Taxes
Parcel Number
89-16-35-000-301.001-030
Land Assessment
$290,300
Improvements Assessment
$2,060,100
Total Assessment
$2,350,400
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True NNN Lease- Proven Site | Walgreens
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