Jackson Retail for Sale
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, newly built, drive-thru equipped Walgreens investment property located in Jackson, KY. The tenant, Walgreen Co., has 7 years of firm term remaining with an additional 4 (5-year) option periods left to extend. The lease features rare 5% rental increases throughout the initial term and 7.50% increases throughout the options, growing NOI and hedging against inflation. The lease is signed by the corporate entity (S&P: BBB-) and is absolute NNN with zero landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. The offering presents the opportunity to purchase one of Walgreens’ brand new “Cooper” prototype pharmacies, a store that will have a health and wellness focus on the location’s front end.
Walgreens is strategically located along State Highway 15 with clear visibility and access to an average of 14,000 vehicles passing by daily. State Highway 15 is a major commuter route, making this a centralized location with easy access. The surrounding tenants include Citizens Bank, Advance Auto Parts, Hardee’s, Walmart, Variety Pizza House, and others. The national and regional tenant presence drives a steady stream of loyal, local consumers to the trade area and promotes significant crossover store exposure. Furthermore, the property is near numerous single-family communities and multi-family complexes including Federal Place Apartments and Red Bud Apartments, providing a direct residential consumer base. The 5-mile trade area is supported by over 5,900 residents and 2,800 daytime employees, with an average annual household income of $57,911.
