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Views: 159 DOM: 285 Updated: 09.05.24 Posted: 02.01.24 Status: Active

Summary

Price $3,790,000
Built/Renov 2007
Tenant Walgreens (Dark)
Cap Rate 10.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,761
Lease Start 06-11-2007
#Units 13,532
Price/SF $256.76
Expiration 06-30-2032
Tenant Type Pharmacy
NOI $379,000
R. Term 7.7
Ownership Fee Simple
Rent/SF $25.68
Increases 0.0%/0/yrs
Pop 5Mi 64,760
Lot/AC 1.39
Options 0/0yrs
AHHI 5Mi $81,299

Lease Highlights

  • Walgreens (dark) has 8+ years remaining on the current lease term
  • Location is part of a 6-unit portfolio with options to be purchased together or individually
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of South Locust Street and Fairfield Road, with a combined daily traffic count of 12,500 vehicles. The property's advantageous location places it roughly half a mile from Miami University and in close proximity to McCullough-Hyde Memorial Hospital. Additionally, it is just a few blocks away from the "Caroline...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Walgreens is an American company that operates the second-largest pharmacy store chain in the United States. It specializes in filling prescriptions, health and wellness products, health...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 15,133 24,932 28,813
2023 Total Population : 15,300 25,206 29,119
2023 Employed Civilian Pop : 5,872 9,815 11,740
2023 Total Businesses : 461 567 649
2023 Average Household Income : $ 69,497 $ 79,361 $ 83,066
2023 Total Consumer Spending : $ 296 M $ 501 M $ 631 M
2023 Median Age : 23 23 24
2023 Total Households : 4,853 7,243 8,748
2023 Pop Age 25+: Bachelor's Degree : 1,317 2,509 3,070
2023 Average Home Value : $ 290,180 $ 305,179 $ 307,996
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
S Locust St W Collins St 2008 5,439 0.03 mi
W Spring St Union St 2008 10,613 0.07 mi
South Locust Street W Collins St 2021 7,904 0.07 mi
Contreras Rd Jacqueline Dr 2008 9,068 0.21 mi
Fairfield Road Ridge Ave 2021 3,041 0.25 mi
West Church Street N Elm St 2021 4,355 0.26 mi
West High Street Alley 2021 4,542 0.31 mi
S College Ave Foxfire Dr 2008 5,012 0.32 mi
West Walnut Street S Beech St 2021 7,904 0.35 mi
South College Avenue Foxfire Dr 2021 8,245 0.36 mi

Listing Broker

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