40 N Meridian Rd - Drug Store FOR SALE


Youngstown, OH 44509
$4,750,000 USD
949-683-6662
40 N Meridian Rd, Youngstown, OH for Sale
$4,750,000 USD
Drug Store - FOR SALE
1/3
null | 7.2% Cap Rate

40 N Meridian Rd
Youngstown, OH 44509


HIGHLIGHTS

  • +/- 8 years left on the initial term of the lease with over $2.5M of remaining rent to be paid to the landlord which is guaranteed by Walgreens Corp.
  • Landlord is collecting $342,000 a year ($28,500 monthly) in guaranteed rent until end of 2033.
  • NNN lease, Walgreens is responsible to take care of any and all maintenance and repairs needed, leaving the Landlord with ZERO RESPONSIBILITIES.
  • Absolute NNN - Zero Landlord Responsibilities - Fee Simple Ownership & ideal for an investor looking for an extremely passive and secure investment.
  • Located near other national tenants.
  • Great visibility & located in an area along a main retail thoroughfare.

OVERVIEW

SUBMIT ALL OFFERS!! Alliance Investment Real Estate Group is pleased to present an opportunity to purchase this single-tenant, Absolute NNN leased Walgreen's (Dark location - but Walgreens is still obligated to pay $342,000 a year until end of 2033) with a drive-thru pharmacy that was built in 2008. There is approx. 8 years left on the initial term of the lease (with 50 years of renewal options to extend) and over $2.5M of remaining rent to be paid to the landlord which is guaranteed by Walgreens Corporation (NYSE:WBA) making the guarantee one of the strongest in all Single Tenant Net Leases. Walgreens is ranked #27 on the Fortune 500 list as January 2025. Walgreens hasn’t missed a rent payment and the landlord is collecting $342,000 a year ($28,500 a month) in rent. Being a true NNN lease, Walgreens is responsible to take care of any and all maintenance and repairs needed, leaving the Landlord with ZERO RESPONSIBILITIES — ideal for an investor looking for an extremely passive and secure investment. NO OFFERS WILL BE CONSIDERED OR ACCEPTED BEFORE CALLING US FIRST TO DISCUSS AT: 949-250-0400. Agent/Broker of Record takes no responsibility for the accuracy of any of the information disclosed. All information is deemed to be reliable, however, buyer to verify all information & to conduct their own due diligence. Ohio Broker of Record: Dan Cooper, Broker License # BRKP.2009003618

FOR SALE DETAILS

PRICE

$4,750,000 USD

PRICE/SF

$321 USD /SF

CAP RATE

7.2%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

2008 Walgreen's With Drive Thru Pharmacy

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

56

LAND DETAILS

LAND ACRES

1.71 AC

LAND SF

74,488 SF

ZONING

B-2

APN/PARCEL ID

48-023-0-124.00-0

ASK ABOUT THIS PROPERTY

Ruben KhorsandiAlliance Investment Real Estate GroupMore Info
949-683-6662

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Ruben KhorsandiAlliance Investment Real Estate GroupMore Info
949-683-6662

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