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Drug Store

Walgreens | +/- 7 Years Left | Dark Location | $1.05M Remaining Rent Obligation

4555 Shadeland Ave, Indianapolis, IN 46226

Listing Price: $1,855,000

Cap Rate
9.00%
Tenant Name
Walgreens
Years Remaining On Lease
6.6
Guarantor
Corporate Guarantee
Rentable SF
13,000
Lease Type
Double Net
Rent Per Square Feet
$12.84

Investment Overview

Marcus & Millichap is pleased to offer for sale a net-leased Walgreens (Dark) in Indianapolis, Indiana. The Property's current lease has just under 7 years of firm lease term remaining on its lease. Walgreens has recently vacated the subject site, but remains responsible for the entirety of the firm term lease though October 31, 2030. With just under 7 years of remaining term, Walgreens is also responsible for approximately $1,050,000 of base rent payable to Landlord through the firm lease term in addition to being financially responsible for all operating expenses with the exception of roof & structure.

The Subject Property is located along 46th Street and North Shadeland Avenue, just once block west of Interstate 465 which features over 171,000 vehicles per day. It’s proximity to Interstate 465 make various nearby destinations very accessible; Fort Benjamin Harrison State Park, a 1,700- are state park that offers, camping, hiking and biking trails, golf, horseback rising and other various outdoor activities boats over 900,000 annual visitors and is located just a few miles east of the Subject Property. Downton Indianapolis and the Indianapolis International Airport are only 7.5 miles and 15 miles away, respectively.

Investment Highlights

  • Low Price Point Compared to Average on Market Walgreens
  • Dark Location-Walgreens Recently Vacated Site, but Remains Responsible for Annual Rent Through 10/31/2030
  • Major Metro Location with Close Proximity to Downtown Indianapolis
  • Potential Lease Buyout Available from Walgrens
  • Low Price Per Foot at $143
  • Strong Demographics: 81,000 Residents within Three-Mile Radius Provides Captive Consumer Base

Exclusively Listed By

Drug Store

Walgreens | +/- 7 Years Left | Dark Location | $1.05M Remaining Rent Obligation

Listing Price: $1,855,000

Cap Rate
9.00%
Tenant Name
Walgreens
Years Remaining On Lease
6.6
Guarantor
Corporate Guarantee
Rentable SF
13,000
Lease Type
Double Net
Rent Per Square Feet
$12.84

Investment Highlights

  • Low Price Point Compared to Average on Market Walgreens
  • Dark Location-Walgreens Recently Vacated Site, but Remains Responsible for Annual Rent Through 10/31/2030
  • Major Metro Location with Close Proximity to Downtown Indianapolis
  • Potential Lease Buyout Available from Walgrens
  • Low Price Per Foot at $143
  • Strong Demographics: 81,000 Residents within Three-Mile Radius Provides Captive Consumer Base

Investment Overview

Marcus & Millichap is pleased to offer for sale a net-leased Walgreens (Dark) in Indianapolis, Indiana. The Property's current lease has just under 7 years of firm lease term remaining on its lease. Walgreens has recently vacated the subject site, but remains responsible for the entirety of the firm term lease though October 31, 2030. With just under 7 years of remaining term, Walgreens is also responsible for approximately $1,050,000 of base rent payable to Landlord through the firm lease term in addition to being financially responsible for all operating expenses with the exception of roof & structure. The Subject Property is located along 46th Street and North Shadeland Avenue, just once block west of Interstate 465 which features over 171,000 vehicles per day. It’s proximity to Interstate 465 make various nearby destinations very accessible; Fort Benjamin Harrison State Park, a 1,700- are state park that offers, camping, hiking and biking trails, golf, horseback rising and other various outdoor activities boats over 900,000 annual visitors and is located just a few miles east of the Subject Property. Downton Indianapolis and the Indianapolis International Airport are only 7.5 miles and 15 miles away, respectively.

Exclusively Listed By

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