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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.

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

    (216) 264-2000

    License(s) OH: BRK.2007005898

    Ohio

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

    (216) 264-2000

    License(s): OH: BRK.2007005898

    Ohio

Financing By

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