No Walgreens/CVS for 18 Mi | 5% Increases 512 W Main St 14,683 SF Retail Building Lebanon, KY 40033 $4,455,266 CAD ($303.43 CAD/SF) 11.75% Cap Rate

We are pleased to market for sale the Walgreens property located at 512 W Main St, Lebanon, KY 40033 ("The Property"). Walgreens has been operating at the site for over 14 years and has 4 years of firm term remaining before the 12 (5-year) option periods. Walgreens operates under an absolute triple net lease, which provides for no landlord obligations whatsoever and calls for a 5% rental increases every five years in the first four options.
Less than 1 mile from the Property, Spring View Hospital, a 75-bed full-service facility, serves as a primary medical provider for Marion County and the surrounding central Kentucky region. The hospital offers inpatient, outpatient, and emergency services, driving consistent pharmacy-related demand to the Walgreens location.
Morris Packaging announced a $60 million investment in a new production facility, committing to the development of a 100,000-square-foot plant that will generate nearly 300 jobs. Additionally, EPC-Columbia is expanding its manufacturing operations, increasing its facility size by 40,000 square feet, bringing its total footprint to 280,000 square feet. These developments reinforce the region’s growing industrial presence and commitment to economic growth.
The Property is the only national chain drugstore in the immediate area, benefiting from limited drugstore competition. The next nearest CVS or Walgreens location is more than 18 miles away, reinforcing the site’s importance as a local healthcare and convenience provider. There are more than 1.7 million square feet of industrial space within 2 miles of the Property, anchored by TG Kentucky, an automotive supplier, producing a variety of interior, exterior, and functional components, employing over 1,100 local residents.
Listed in conjunction with Brian Brockman, Bang Realty Inc, 513-898-1551, wg@bangrealty.com, KY DRE Lic. 204982.