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Drug Store

Walgreens | Absolute NNN | 8+Years Remaining | Close Proximity to County Hospital

2215 IN-3, Greensburg, IN 47240

Listing Price: $4,952,000

Cap Rate
5.25%
Tenant Name
Walgreens
Years Remaining On Lease
8.4
Guarantor
Corporate Guarantee
Rentable SF
14,490
Lease Type
Absolute Net
Rent Per Square Feet
$17.94

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire a 8+ year absolute NNN lease Walgreens located in Greensburg, Indiana. The offering is an ideal investment for an investor looking for a well-located drug store with a long-term lease in place with zero landlord responsibilities featuring an investment grade credit tenant. Greensburg is located adjacent to Interstate 74 halfway between Indianapolis, Indiana and Cincinnati, Ohio. The community serves as the county seat of Decatur County comprising of local government & Decatur County Memorial Hospital. Major employers in the community include Delta Faucet, Honda Manufacturing, Valeo Engine Cooling, KB Specialty Foods & Hitachi Powdered Metals. Walgreens (NASDAQ:WBA) is one of the largest pharmacy companies in the world and has an investment-grade corporate credit rating through the major credit rating agencies. The property offers an incoming investor the opportunity to own a net-leased Walgreens with passive long-term cash flow on a one and one-half acre real estate site on a premier hard-corner intersection in an established Indianapolis submarket of Indianapolis with a significant amount of long-term future development growth potential nearby.

Investment Highlights

  • Situated on a signalized hard corner intersection directly off of the interstate provides exceptional visibility and access to the property with multiple ingress/egress points
  • located less than a mile from the County Hospital
  • Tenant is responsible for all expenses related to the building including common area maintenance, insurance and real estate taxes.  Tenant is also responsible for roof & structure
  • Over 8 years remaining of firm-term lease before tenant option periods, the lease features the more market favorable 10 - 5-year options
  • Surrounded by national retailers along the main retail corridor of Greensburg including: Walmart, McDonalds, Starbucks, Chili's, Jimmy Johns, Taco Bell, Verizon Wireless, Rural King, Burger King among many others
  • Walgreens (NASDAQ: WBA) has an investment grade credit rating of BBB by Standard & Poor's – Annual revenues exceed $135 billion

Exclusively Listed By

Drug Store

Walgreens | Absolute NNN | 8+Years Remaining | Close Proximity to County Hospital

Listing Price: $4,952,000

Cap Rate
5.25%
Tenant Name
Walgreens
Years Remaining On Lease
8.4
Guarantor
Corporate Guarantee
Rentable SF
14,490
Lease Type
Absolute Net
Rent Per Square Feet
$17.94

Investment Highlights

  • Situated on a signalized hard corner intersection directly off of the interstate provides exceptional visibility and access to the property with multiple ingress/egress points
  • located less than a mile from the County Hospital
  • Tenant is responsible for all expenses related to the building including common area maintenance, insurance and real estate taxes.  Tenant is also responsible for roof & structure
  • Over 8 years remaining of firm-term lease before tenant option periods, the lease features the more market favorable 10 - 5-year options
  • Surrounded by national retailers along the main retail corridor of Greensburg including: Walmart, McDonalds, Starbucks, Chili's, Jimmy Johns, Taco Bell, Verizon Wireless, Rural King, Burger King among many others
  • Walgreens (NASDAQ: WBA) has an investment grade credit rating of BBB by Standard & Poor's – Annual revenues exceed $135 billion

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire a 8+ year absolute NNN lease Walgreens located in Greensburg, Indiana. The offering is an ideal investment for an investor looking for a well-located drug store with a long-term lease in place with zero landlord responsibilities featuring an investment grade credit tenant. Greensburg is located adjacent to Interstate 74 halfway between Indianapolis, Indiana and Cincinnati, Ohio. The community serves as the county seat of Decatur County comprising of local government & Decatur County Memorial Hospital. Major employers in the community include Delta Faucet, Honda Manufacturing, Valeo Engine Cooling, KB Specialty Foods & Hitachi Powdered Metals. Walgreens (NASDAQ:WBA) is one of the largest pharmacy companies in the world and has an investment-grade corporate credit rating through the major credit rating agencies. The property offers an incoming investor the opportunity to own a net-leased Walgreens with passive long-term cash flow on a one and one-half acre real estate site on a premier hard-corner intersection in an established Indianapolis submarket of Indianapolis with a significant amount of long-term future development growth potential nearby.

Exclusively Listed By

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