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Drug Store

Midwestern Absolute NNN Walgreens w/Strong Sales

2400 E Center St, Warsaw, IN 46580

Listing Price: $4,784,614

Cap Rate
6.50%
Tenant Name
Walgreens
Years Remaining On Lease
5.5
Guarantor
Corporate Guarantee
Rentable SF
14,500
Lease Type
Absolute Net
Rent Per Square Feet
$21.45

Investment Overview

Subject is a Prime 14,500 Square-Foot Build-to-Suit Walgreens on a 1.68-Acre Lot with Ample Parking, Pylon Signage, Easy Ingress/Egress, Strategically Located on a Signalized Intersection Absolute NNN Lease with a 25-Year Base Term and Zero Landlord Responsibility | Over Five Years Remaining and 10 x 5-Year Options

Investment Highlights

  • Robust Traffic Counts on Argonne Road (12,588 VPD) and Center Street (13,423 VPD), a Quarter Mile off of US Highway 30 (26,038 VPD) Source: LandVision, CoStar, 2022
  • Investment-Grade Credit Tenant Walgreens Boots Alliance (NASDAQ: WBA) has a Long-Term Stable Credit Rating of Baa2 (Stable) from Moody's and Investment Grade Rating of BBB (Stable) from S&P
  • Well Established Retail Corridor | Nearby National Retailers Include: Applebee's, Taco Bell, Burger King, Wyndham, Holiday Inn, Avis, Ruby Tuesday, Kroger, Dunkin', AutoZone, and Others
  • Thriving Community with an Average Household Income of Over $87K within Five Miles of the Subject Asset, as of 2022
  • Subject is less than 45 Miles from Ft Wayne International Airport, Serving 600K Passengers Annually and 40 Miles from Downtown Fort Wayne with a Population of 268,000
  • Parks and Outdoor Recreational Facilities Nearby Include: Winona Lake, Center Lake Wetland Conservation Area, Rozella Ford Golf Course, Kelly Park, Stonehenge Golf

Exclusively Listed By

  • Jesse Limon

    Licensed Real Estate Salesperson

    (212) 430-5291

    Email Jesse

    License(s): IN: RB14048415, NY: 10401271892

    Manhattan

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s) IN: RB14034355

    Indiana

Drug Store

Midwestern Absolute NNN Walgreens w/Strong Sales

Listing Price: $4,784,614

Cap Rate
6.50%
Tenant Name
Walgreens
Years Remaining On Lease
5.5
Guarantor
Corporate Guarantee
Rentable SF
14,500
Lease Type
Absolute Net
Rent Per Square Feet
$21.45

Investment Highlights

  • Robust Traffic Counts on Argonne Road (12,588 VPD) and Center Street (13,423 VPD), a Quarter Mile off of US Highway 30 (26,038 VPD) Source: LandVision, CoStar, 2022
  • Investment-Grade Credit Tenant Walgreens Boots Alliance (NASDAQ: WBA) has a Long-Term Stable Credit Rating of Baa2 (Stable) from Moody's and Investment Grade Rating of BBB (Stable) from S&P
  • Well Established Retail Corridor | Nearby National Retailers Include: Applebee's, Taco Bell, Burger King, Wyndham, Holiday Inn, Avis, Ruby Tuesday, Kroger, Dunkin', AutoZone, and Others
  • Thriving Community with an Average Household Income of Over $87K within Five Miles of the Subject Asset, as of 2022
  • Subject is less than 45 Miles from Ft Wayne International Airport, Serving 600K Passengers Annually and 40 Miles from Downtown Fort Wayne with a Population of 268,000
  • Parks and Outdoor Recreational Facilities Nearby Include: Winona Lake, Center Lake Wetland Conservation Area, Rozella Ford Golf Course, Kelly Park, Stonehenge Golf

Investment Overview

Subject is a Prime 14,500 Square-Foot Build-to-Suit Walgreens on a 1.68-Acre Lot with Ample Parking, Pylon Signage, Easy Ingress/Egress, Strategically Located on a Signalized Intersection Absolute NNN Lease with a 25-Year Base Term and Zero Landlord Responsibility | Over Five Years Remaining and 10 x 5-Year Options

Exclusively Listed By

  • Jesse Limon

    Licensed Real Estate Salesperson

    (212) 430-5291

    Email Jesse

    License(s): IN: RB14048415, NY: 10401271892

    Manhattan

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s): IN: RB14034355

    Indiana

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