Dense Retail Hub 1-Mi from 500+ Bed Hospital 925 S Green River Rd 15,646 SF Retail Building Evansville, IN 47715 $4,707,518 CAD ($300.88 CAD/SF) 11% Cap Rate

We are pleased to market for sale the Walgreens property located at 925 South Green River Road, Evansville, IN 47715 (the “Property”). The current lease term runs through November 30, 2029, with twelve (5-year) renewal options. Walgreens operates under a absolute net lease, which provides for no landlord obligations whatsoever and calls for rental increases every 5 years for the first four options.
The Property is located less than 1 mile from Ascension St. Vincent Evansville, a hospital with approximately 508 beds, and 3.3 miles from Deaconess Gateway Hospital, which has approximately 250 beds. Within a 1-mile radius there is 2 million square feet of retail as well as the Eastland Mall located less than 2-miles north, a 1 million square foot center anchored by JCPenney, Dillards's and Macy's. The Property reports strong sales and includes a Labcorp patient service center, which provides diagnostic testing services and contributes additional customer traffic to the site.
Evansville serves as the headquarters for several major employers, including Berry Global Group (a Fortune 500 company), Old National Bank, Koch Enterprises, and Jasper Engines & Transmissions. Other notable employers in the region include the TJ Maxx Distribution Center and Toyota Motor Manufacturing Indiana.
Listed in conjunction with Brian Brockman, Bang Realty Inc, 513-898-1551, wg@bangrealty.com, IN DRE Lic. RB14037939.