2366 Harding Hwy - Drug Store FOR SALE


Lima, OH 45804
$4,000,000 USD
312-279-5342
2366 Harding Hwy, Lima, OH for Sale
$4,000,000 USD
Drug Store - FOR SALE
1/8
null | 7.38% Cap Rate

2366 Harding Hwy
Lima, OH 45804


HIGHLIGHTS

  • 5 Years Remaining | Options Through February 2079 | Corporate Signed Lease | Historical Occupancy
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Direct Residential Consumer Base | Strong Demographics in 5-Mile Trade Area
  • Adjacent to Eastgate Plaza (194K+ SF) | Strong National/Credit Tenant Presence
  • Signalized, Hard Corner Intersection | Centralized Location | Drive-Thru Equipped | Excellent Visibility & Access

OVERVIEW

SRS National Net Lease in collaboration with Hoty Enterprises, Inc. is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, investment grade (S&P: BBB-), drive-thru equipped, Walgreens investment property located in Lima, OH. The tenant, Walgreen Co. has 5 years of lease term remaining with 10 (5-year) option periods left to extend. The lease is signed by the corporate entity and is absolute NNN with zero landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. Founded in 1901, Walgreens is among America’s largest pharmacies and health & beauty companies with nearly 9,000 stores in operation. Walgreens is strategically located at the signalized, hard corner intersection of Harding Highway and Lost Creek Boulevard, averaging a combined 38,000 vehicles passing by daily. The asset also benefits from nearby access onto Interstate 75 (41,100 VPD), making it a centralized location with easy commutes for both employees and customers. Walgreens is ideally situated within a dense retail trade area and is adjacent to Eastgate Plaza, a 194K+ SF Community Center anchored by Gabe’s, Big Lots!, and Harbor Freight Tools. The additional surrounding national/credit tenants include Walmart Supercenter, ALDI, Sam’s Club, Tractor Supply Co., Chase Bank, Advance Auto Parts, and others. The surrounding national tenant presence drives a steady stream of loyal, local consumers and promotes crossover store exposure. Furthermore, the property is near numerous single-family communities and multi-family complexes including Country View (102 units), Luther Pines (108 units), Lima Towers (200 units), and others, providing a direct residential consumer base. The 5-mile trade area is supported by over 52,100 residents and 43,100 daytime employees, with an average annual household income of $59,820.

FOR SALE DETAILS

PRICE

$4,000,000 USD

PRICE/SF

$276 USD /SF

CAP RATE

7.38%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2004

SPRINKLERS

-

PARKING SPACES

83

LAND DETAILS

LAND ACRES

1.45 AC

LAND SF

63,162 SF

ZONING

Commercial

APN/PARCEL ID

47-04-00-02-005.020

ASK ABOUT THIS PROPERTY

Dan ElliotSRS National Net Lease GroupMore Info
312-279-5342

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Dan ElliotSRS National Net Lease GroupMore Info
312-279-5342

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.