411 W Stockton St - Drug Store FOR SALE


Edmonton, KY 42129
$1,738,000 USD
312-279-5342
411 W Stockton St, Edmonton, KY for Sale
$1,738,000 USD
Drug Store - FOR SALE
1/5
null | 6.25% Cap Rate

411 W Stockton St
Edmonton, KY 42129


HIGHLIGHTS

  • 8.5+ Years Remaining | Scheduled Rental Increases | Absolute NNN | Corporate Signature | Cooper Prototype Store | Established Brand
  • Near Signalized, Hard Corner Intersection | Excellent Location |Strong Nearby Tenant Presence | Drive-Thru Equipped Pharmacy
  • Direct Residential Consumer Base | Demographics in 5-Mile Trade Area

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, newly built, drive-thru equipped Walgreens investment property located in Edmonton, KY. The tenant, Walgreen Co., has 8.5+ years of firm term remaining with an additional 4 (5-year) option periods left to extend. The lease features rare 5% rental increases every 5 years throughout the initial term and options, growing NOI and hedging against inflation. The lease is signed by the corporate entity (S&P: BBB-) and is absolute NNN with zero landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. The offering presents the opportunity to purchase one of Walgreens’ brand new “Cooper” prototype pharmacies, a store that will have a health and wellness focus on the location’s front end. Walgreens is strategically located near the signalized, hard corner intersection of Stockton Street and Main Street, averaging a combined 15,900 vehicles passing by daily. Both streets serve as major retail corridors in Edmonton, placing this asset in an excellent location. The surrounding tenants consist of Dollar General Market, ACE Hardware, Minnie’s Southern Café, South Central Bank, Western Union, and others. The national and regional tenant presence drives a steady stream of loyal, local consumers to the trade area and promotes significant crossover store exposure. Furthermore, the property is near numerous single-family communities and multi-family complexes including Stockton Apartments, Edmonton Manor, and others, providing a direct residential consumer base. The 5-mile trade area is supported by over 4,600 residents and 1,600 daytime employees, with an average annual household income of $50,152.

FOR SALE DETAILS

PRICE

$1,738,000 USD

PRICE/SF

$678 USD /SF

CAP RATE

6.25%

% 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

2023

SPRINKLERS

-

PARKING SPACES

23

LAND DETAILS

LAND ACRES

0.7 AC

LAND SF

30,492 SF

ZONING

Commercial

APN/PARCEL ID

104-00-01-008.00

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.