740 Highway 15 S - Drug Store FOR SALE


Jackson, KY 41339
$1,656,000 USD
312-279-5342
740 Highway 15 S, Jackson, KY for Sale
$1,656,000 USD
Drug Store - FOR SALE
1/7
null | 6.25% Cap Rate

740 Highway 15 S
Jackson, KY 41339


HIGHLIGHTS

  • 8.5+ Years Remaining | Scheduled Rental Increases | Absolute NNN | Corporate Signature | Cooper Prototype Store | Established Brand
  • Located Along State Highway 15 | 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 Jackson, 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 throughout the initial term and 7.50% increases throughout the 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 along State Highway 15 with clear visibility and access to an average of 14,000 vehicles passing by daily. State Highway 15 is a major commuter route, making this a centralized location with easy access. The surrounding tenants include Citizens Bank, Advance Auto Parts, Hardee’s, Walmart, Variety Pizza House, 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 Federal Place Apartments and Red Bud Apartments, providing a direct residential consumer base. The 5-mile trade area is supported by over 5,900 residents and 2,800 daytime employees, with an average annual household income of $57,911.

FOR SALE DETAILS

PRICE

$1,656,000 USD

PRICE/SF

$647 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

35

LAND DETAILS

LAND ACRES

1.08 AC

LAND SF

47,045 SF

ZONING

C-1

APN/PARCEL ID

103-00-00-009.00

ASK ABOUT THIS PROPERTY

Dan ElliotSRS Real Estate PartnersMore Info
312-279-5342

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Dan ElliotSRS Real Estate PartnersMore Info
312-279-5342

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