Drug Store
Walgreens | Adjacent to Kent State (40K+ Students)
320 S Water St, Kent (Cleveland MSA), OH 44240
Listing Price: $4,488,000
Cap Rate
6.35%
Tenant Name
Walgreens
Years Remaining On Lease
6.3
Guarantor
Corporate Guarantee
Rentable SF
15,120
Lease Type
Double Net
Rent Per Square Feet
$18.85
Investment Overview
Marcus & Millichap is pleased to present the Walgreens in Kent, OH.
Walgreens | Adjacent to Kent State (40K+ Students)
Investment Highlights
- Original Long-Term 25-Year Lease, 6+ Years Remaining
- Strong Unit-Level Sales, Year-Over-Year Growth
- 22-Year Operating History at This Location
- Corporate Guaranty from Investment Grade Tenant (Rated BBB by S&P), Ranked 16th on Fortune 500
- Leading Pharmacy Store Chain in the U.S. with 9,270+ Locations
- Limited Landlord Responsibilities, Fee Simple Ownership
- Serving Approximately 92,000 Residents in Primary Trade Area
- Average Household Income Exceeds $75,000 within 3 Miles and $89,000 within 5 Miles
Exclusively Listed By
Broker of Record
-
Michael L. Glass
Senior Vice President / Division Manager
Financing By
Drug Store
Walgreens | Adjacent to Kent State (40K+ Students)
Listing Price: $4,488,000
Cap Rate
6.35%
Tenant Name
Walgreens
Years Remaining On Lease
6.3
Guarantor
Corporate Guarantee
Rentable SF
15,120
Lease Type
Double Net
Rent Per Square Feet
$18.85
Investment Highlights
- Original Long-Term 25-Year Lease, 6+ Years Remaining
- Strong Unit-Level Sales, Year-Over-Year Growth
- 22-Year Operating History at This Location
- Corporate Guaranty from Investment Grade Tenant (Rated BBB by S&P), Ranked 16th on Fortune 500
- Leading Pharmacy Store Chain in the U.S. with 9,270+ Locations
- Limited Landlord Responsibilities, Fee Simple Ownership
- Serving Approximately 92,000 Residents in Primary Trade Area
- Average Household Income Exceeds $75,000 within 3 Miles and $89,000 within 5 Miles
Investment Overview
Marcus & Millichap is pleased to present the Walgreens in Kent, OH.
Exclusively Listed By
Broker of Record
-
Michael L. Glass
Senior Vice President / Division Manager
Financing By
