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True NNN Lease- Proven Site Walgreens 14,729 SF Retail Building Richmond, IN 47374 $6,906,077 CAD ($468.88 CAD/SF) 6.93% Cap Rate

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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.

PROPERTY FACTS

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Drug Store

Building Size

14,729 SF

Building Class

Year Built

2006

Price

$6,906,077 CAD

Price Per SF

$468.88 CAD

Cap Rate

6.93%

NOI

$478,639 CAD

Tenancy

Single

Building Height

1 Story

Building FAR

0.17

Lot Size

1.94 AC

Zoning

ZO01

Retailer
-
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Walgreens, founded by Charles Rudolph Walgreen in 1901 in Chicago, is a major U.S. pharmacy and retail chain operating under the publicly traded parent, Walgreens Boots Alliance (NASDAQ: WBA). Headquartered in Deerfield, Illinois, it provides prescription services, health and wellness products, photo services, and expanded healthcare offerings including immunizations and diagnostic screenings. As of late 2025, the company operated thousands of retail locations across the United States and Puerto Rico, serving roughly 78% of Americans within five miles of a store. Walgreens maintains omnichannel operations—blending in-store, online, drive-thru, and home delivery services—and has strategic healthcare partnerships, notably with VillageMD. Under the direction of new CEO Mike Motz, following the August 2025 purchase by Sycamore Partners, Walgreens continues to emphasize core pharmacy execution, digital innovation, and integrated care solutions.