Walgreens | 1240 W Main St
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Walgreens 1240 W Main St
13,292 SF Retail Building Bridgeport, WV 26330 £4,018,187 (£302/SF) 7.50% Net Initial Yield
Investment Highlights
- According to Placer.Ai, this Walgreens is the most visited location out of 10 stores in a 30-mile radius.
- This Walgreens lease allows for approximately 4% rental increases every 10 years.
- This offering allows an investor the opportunity to assume the existing fully amortizing below market financing at a rate of 5.07%. (See Page 4 of OM)
- This Walgreens is positioned in the main retail corridor in Bridgeport with over 2.2 million sf of retail space within a 2-mile radius.
- Approximately 2 years ago, Walgreens closed their only other location in Bridgeport directing customers to this location for their prescriptions.
- This property benefits from its location on a signalized corner with approximately 38,000 VPD and is located just off Interstate 79.
Executive Summary
Introducing the WALGREENS at 1240 WEST MAIN STREET in BRIDGEPORT, WV 26330, an exceptional investment opportunity in West Virginia! This property stands out as the top-performing Walgreens within a 30-mile radius, attracting the highest foot traffic according to Placer.Ai analytics. Strategically located in Bridgeport's prime retail corridor with over 2.2 million sf of retail space nearby, this is a coveted retail location. The lease features rental escalations of approximately 4% every 10 years, making it a lucrative long-term investment. Notably, this Walgreens is the preferred destination for prescriptions since becoming the sole Walgreens in Bridgeport. With assumable below-market debt and limited local competition, this property provides stable returns. Its convenient hours and prominent signalized corner location off Interstate 79 enhance its appeal. Offered at $5,013,333 with a strong cap rate of 7.50%, this investment promises a reliable income stream.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
13,292 SF
Building Class
B
Year Built
2011
Price
£4,018,187
Price Per SF
£302
Net Initial Yield
7.50%
NOI
£301,364
Tenancy
Single
Number of Floors
1
Building FAR
0.35
Lot Size
0.87 AC
Amenities
- Pylon Sign
- Signage
- Drive Thru
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 16-309-00760000 | Improvements Assessment | £605,293 |
| Land Assessment | £238,549 | Total Assessment | £843,842 |
PROPERTY TAXES
Parcel Number
16-309-00760000
Land Assessment
£238,549
Improvements Assessment
£605,293
Total Assessment
£843,842
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Walgreens | 1240 W Main St
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