512 Green Blvd - Drug Store FOR SALE


Aurora, IN 47001
$4,900,000 USD
818-823-0832
512 Green Blvd, Aurora, IN for Sale
$4,900,000 USD
Drug Store - FOR SALE
1/6
null | 7.99% Cap Rate

512 Green Blvd
Aurora, IN 47001


HIGHLIGHTS

  • Six (6) Years Remaining on Original 25-year Term with an Absolute Net Lease – Zero Landlord Responsibilities
  • Corporate Guarantee Lease with 10 x 5-year Options for Maximum Term Through 2081
  • Opportunity for Positive Leverage - 8.00% Cash on Cash Return Potential
  • No Internal Competition Within the Western Half of a 40-Mile Radius of the Site – Ohio River Adjacent
  • Located Near Signalized Intersection of Sunnyside Avenue and Green Blvd (US-50 Hwy) with over 73,000 Cars Per Day
  • Strong Area Demographics-Population of 58,958 People within a 10-Mile Radius with Average Household income of $101,042 Annually

OVERVIEW

The Ovaness-Rostamian Group of Marcus & Millichap is pleased to present an exceptional investment opportunity: Walgreens, located in Aurora, Indiana. This 15,212-square-foot building is strategically positioned on 3.07 acres of prime land in Dearborn County, just 39 minutes from the Cincinnati/Northern Kentucky International Airport. The property boasts an excellent location near the signalized intersection of Sunnyside Avenue and Green Blvd (US-50 Hwy), with significant daily traffic exposure of over73,000 Cars Per Day. This particular location enhances its offerings with a FedEx drop-off service, a full-service pharmacy with drive-thru, and one-hour photo services, providing additional customer value and aiding in consistent foot traffic. Also, it is important to note that in the western half of a 40-Mile radius there is no internal Walgreens competition and this particular site serves a community that needs this Walgreens. (see Placer.ai map). The property benefits from a strong and growing demographic base, with nearly 65,000 residents within a 10-mile radius and an impressive average household income of $101,042. The area has experienced steady population and income growth over the past five years, further enhancing the site's investment potential. Coupled with an –absolute net lease structure that eliminates landlord responsibilities, this property offers a truly passive income opportunity for investors seeking stability and long-term returns.

FOR SALE DETAILS

PRICE

$4,900,000 USD

PRICE/SF

$331 USD /SF

CAP RATE

7.99%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens Limited Competition 7.99% CAP Rate

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Convenience Store, Freestanding, Supermarket

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2006

SPRINKLERS

-

PARKING SPACES

60

LAND DETAILS

LAND ACRES

3.07 AC

LAND SF

133,729 SF

ZONING

Commercial

APN/PARCEL ID

15-07-29-401-063.000-003

ASK ABOUT THIS PROPERTY

Ara RostamianMarcus & MillichapMore Info
818-823-0832

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Ara RostamianMarcus & MillichapMore Info
818-823-0832

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