Walgreens | 2001 S Main St
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Walgreens 2001 S Main St
13,500 SF Retail Building Joplin, MO 64804 £1,723,260 (£128/SF) 7.50% Net Initial Yield
Investment Highlights
- Walgreens is paying $12.22/SF which is significantly lower than the national average.
- Located 2 miles East, Prospect Village is a new $375 million mixed-use project will support the growth of the area.
- Located on the intersection of South Main Street and East 20th Street with over 27,000 VPD.
- Walgreens signed a 10-year lease extension in 2019 demonstrating their long-term commitment to the site.
- Freeman Hospital West, Freeman Hospital East, Landmark Hospital and Mercy Hospital Joplin (191 Beds) are all located within 3 miles.
Executive Summary
We are pleased to market for sale the Walgreens property located at 2001 South Main Street in Joplin, Missouri ("The Property"). Walgreens has been operating at this location for over ±27 years and has over 4 years remaining on the primary term. Walgreens signed a 10-year lease extension in 2019, demonstrating their commitment to the site. According to Placer.AI, the subject property is the #1 most visited Walgreens in a 30-mile radius (amongst 8 other Walgreens locations). This opportunity allows investors to purchase a high-yield Walgreens asset with a long operating history in a growing market.
Located 2 miles East, the Prospect Village Development is a new $375 million mixed-use project featuring retail, multi-family, hospitality, and sports complexes which will support the growth of the area. Freeman Health Systems is the largest employer in Joplin, with over 3,600 employees and Joplin serves as a central medical hub for the surrounding market. Freeman Hospital West (1.8 Mi SW) and Freeman Hospital East (1.7 Mi SE) combine for over 410 beds and provide a strong customer base for the store's pharmacy segment.
Listed in conjunction with Brian Brockman, Bang Realty, 513-898-1551, wg@bangrealty.com, MO DRE Lic. 2017032771.
Located 2 miles East, the Prospect Village Development is a new $375 million mixed-use project featuring retail, multi-family, hospitality, and sports complexes which will support the growth of the area. Freeman Health Systems is the largest employer in Joplin, with over 3,600 employees and Joplin serves as a central medical hub for the surrounding market. Freeman Hospital West (1.8 Mi SW) and Freeman Hospital East (1.7 Mi SE) combine for over 410 beds and provide a strong customer base for the store's pharmacy segment.
Listed in conjunction with Brian Brockman, Bang Realty, 513-898-1551, wg@bangrealty.com, MO DRE Lic. 2017032771.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
13,500 SF
Building Class
C
Year Built
2011
Price
£1,723,260
Price Per SF
£128
Net Initial Yield
7.50%
NOI
£129,244
Tenancy
Single
Number of Floors
1
Building FAR
0.49
Lot Size
0.63 AC
Zoning
Commercial
Parking
65 Spaces (4.81 Spaces per 1,000 SF Leased)
Frontage
232 ft on Missouri 43
Walk Score ®
Very Walkable (76)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £150,456 | |
| Land Assessment | £39,549 | Total Assessment | £190,005 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£39,549
Improvements Assessment
£150,456
Total Assessment
£190,005
(619) 297-0055
x302
Contacts
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Jason Pongsrikul -
Chris Barry -
Tommy Darcey -
Pharma Property Group- Drugstore Specialists
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Walgreens | 2001 S Main St
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