Walgreens | 1160 US 68 Hwy
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Walgreens 1160 US 68 Hwy
11,180 SF Retail Building Maysville, KY 41056 £1,721,390 (£154/SF) 8.01% Net Initial Yield
Investment Highlights
- The property is located less than 2 miles from the Meadowview Regional Medical Hospital, a 100- bed accredited hospital
Executive Summary
±11,000 SF single-tenant Walgreens investment property located in Maysville, KY
After Walgreens’ $4.4 billion acquisition of Rite Aid in 2018, Walgreens identified this former Rite Aid as a store they wanted to transfer to Walgreens
Walgreens recently extended their term through 10/31/2032 with a 5% rent increase scheduled for November 2027
The property is located less than 2 miles from the Meadowview Regional Medical Hospital, a 100- bed accredited hospital. It has been named one of the ‘100 Top Hospitals’ 5 times by Reuters
The next closest CVS Pharmacy is 40 miles away and the next closest Rite Aid is over 55 miles away. Additionally, this is the only Walgreens location within 30 miles
The offering contains additional income outside of the Walgreens annual rent, which includes close to $10,000 annually in the form of a license agreement for extra storage space which is critical to Walgreens’ day-today operations.
The property is strategically located along US Highway 68 (13,485 VPD) and just north of KY 9 (13,830 VPD), the two main local thoroughfares which host numerous national retailers.
Asking Price: $2,200,000 (8.01% Cap)
After Walgreens’ $4.4 billion acquisition of Rite Aid in 2018, Walgreens identified this former Rite Aid as a store they wanted to transfer to Walgreens
Walgreens recently extended their term through 10/31/2032 with a 5% rent increase scheduled for November 2027
The property is located less than 2 miles from the Meadowview Regional Medical Hospital, a 100- bed accredited hospital. It has been named one of the ‘100 Top Hospitals’ 5 times by Reuters
The next closest CVS Pharmacy is 40 miles away and the next closest Rite Aid is over 55 miles away. Additionally, this is the only Walgreens location within 30 miles
The offering contains additional income outside of the Walgreens annual rent, which includes close to $10,000 annually in the form of a license agreement for extra storage space which is critical to Walgreens’ day-today operations.
The property is strategically located along US Highway 68 (13,485 VPD) and just north of KY 9 (13,830 VPD), the two main local thoroughfares which host numerous national retailers.
Asking Price: $2,200,000 (8.01% Cap)
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
11,180 SF
Building Class
B
Year Built
1997
Price
£1,721,390
Price Per SF
£154
Net Initial Yield
8.01%
NOI
£137,907
Tenancy
Single
Number of Floors
1
Building FAR
0.25
Lot Size
1.04 AC
Zoning
C - Commercial
Parking
68 Spaces (6.08 Spaces per 1,000 SF Leased)
Frontage
381 ft on U.S. 68
Amenities
- Drive Thru
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 049-00-00-020.01 | Improvements Assessment | £624,955 |
| Land Assessment | £157,495 | Total Assessment | £782,450 |
PROPERTY TAXES
Parcel Number
049-00-00-020.01
Land Assessment
£157,495
Improvements Assessment
£624,955
Total Assessment
£782,450
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Walgreens | 1160 US 68 Hwy
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