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Walgreens 3700 National Rd E

14,729 SF Retail Building Richmond, IN 47374 £4,016,224 (£273/SF) 6.93% Net Initial Yield

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INVESTMENT HIGHLIGHTS

Single Tenant Absolute NNN Leased Walgreens – Corporate Guarantee – Richmond, IN
Absolute Net Lease – 6.9 Firm Lease Years Remaining - No Landlord Responsibilities
Positioned on Hard Corner Signalized Intersection of E Main St

One of the Largest Drugstore Chains in the United States
75 Year Primary Term – Option to Termination Beginning in 2031
14,729 SF Building with Drive-Thru on Large 1.94 Acre Parcel

EXECUTIVE SUMMARY

The Snyder Carlton National Net Lease Team is pleased to offer to investors a great opportunity to acquire the single tenant absolute NNN leased Walgreens Pharmacy in Richmond, IN. Walgreens is one of the largest drugstore chains in the U.S. and operates over 9,000 Stores in all 50 states, Washington D.C., Puerto Rico and the U.S. Virgin Islands. The 75-year corporate guaranteed lease has 6.9 firm lease years remaining in the primary term with zero landlord responsibilities and potential for additional percentage rent.
The 14,729 SF standalone building with drive-thru on large 1.94-acre parcel is strategically positioned on the hard corner signalized intersection of E Main Street (Hwy 40) and 37th Street which have a combined traffic count exceeding 32,200 VPD and prospers from excellent visibility and access. Nearby retailers include Walmart Supercenter, Menards Home Improvement, Tractor Supply Co., DICK’S Sporting Goods, Kohl’s, Hobby Lobby, ALDI, Kroger, Starbucks and Chipotle.

PROPERTY FACTS

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Drug Store

Building Size

14,729 SF

Building Class

Year Built

2006

Price

£4,016,224

Price Per SF

£273

Net Initial Yield

6.93%

NOI

£278,352

Tenancy

Single

Number of Floors

Building FAR

0.17

Lot Size

1.94 AC

Zoning

ZO01

Retailer
-
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Walgreens is a trusted and convenient local health destination that millions of Americans rely on every day. Their founder, Charles R. Walgreen Sr., was known for finding new ways to connect with customers on a personal level and treating each person like a guest in his own home. For over a century, they have expanded that personal connection through their network of neighborhood pharmacies and their innovative health services and products. The foundation for all of this is their trusted pharmacy expertise, and their team members who provide essential care that helps people achieve better health outcomes at an affordable cost.