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Walgreens | 6yrs Remain Corp NNN 1207 S Heaton St 14,259 SF Retail Building Knox, IN 46534 $4,032,813 CAD ($282.83 CAD/SF) 9.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Corporate Guaranteed | Options To Extend | Well Known & Established Brand | Long Term Tenancy
- Outparcel To Grocery-Anchored Center (1.9M+ Annual Visits) | Excellent Visibility & Access | Limited Competition
- NNN | Fee Simple Ownership | Limited Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area
EXECUTIVE SUMMARY
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a freestanding, corporate guaranteed Walgreens investment property located in Knox, Indiana. The tenant, Walgreen Co., has approximately 6 years remaining on its lease with 10 (5-year) options to extend. The lease is NNN with limited landlord responsibilities to roof, structure, and exterior utilities, making it an ideal, low management investment opportunity for a passive investor. Walgreens serves a crucial role as an independent partner of choice offering healthcare services that improve care, lower costs, and help patients. Operating nearly 9,000 retail locations across the U.S. and Puerto Rico, Walgreens is proud to serve nearly 9 million customers and patients daily. Walgreens’ parent company, Walgreens Boots Alliance (WBA), recently announced an agreement to be acquired by a Sycamore Partners-affiliated entity for up to $23.7 billion, with the intention of strengthening the brand’s position as a top provider of pharmacy, retail, and health services throughout the country.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
14,259 SF
Building Class
C
Year Built
2005
Price
$4,032,813 CAD
Price Per SF
$282.83 CAD
Cap Rate
9.50%
NOI
$383,117 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
2.04 AC
Zoning
C-2 - General Commercial
Parking
62 Spaces (4.35 Spaces per 1,000 SF Leased)
Frontage
276’ on S Heaton St
AMENITIES
- Corner Lot
- Dedicated Turn Lane
- Freeway Visibility
- Signage
- Signalized Intersection
PROPERTY TAXES
| Parcel Number | 75-06-27-202-005.000-004 | Improvements Assessment | $963,525 CAD |
| Land Assessment | $333,393 CAD | Total Assessment | $1,296,917 CAD |
PROPERTY TAXES
Parcel Number
75-06-27-202-005.000-004
Land Assessment
$333,393 CAD
Improvements Assessment
$963,525 CAD
Total Assessment
$1,296,917 CAD
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Walgreens | 6yrs Remain Corp NNN | 1207 S Heaton St
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