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Drug Store

Walgreens

244 N Lake Dr, Prestonsburg, KY 41653

Listing Price: $1,744,537

Cap Rate
5.95%
Tenant Name
Walgreen Co
Years Remaining On Lease
9.6
Gross SF
2,500
Guarantor
Corporate Guarantee
Rentable SF
2,500
Price/Gross SF
$697.81
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$41.52

Investment Overview

Walgreens is an American pharmaceutical company which operates the largest drug retailing chain in the United States of America. It specializes in serving prescriptions, health and wellness products, health information and photo services. As of 2023, the company operates 8,700 stores in all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands.

Prestonsburg is a historic and welcoming city located in Floyd County, in the valley of the Big Sandy River. Nestled in the foothills of the Appalachian Mountains in the eastern part of Kentucky, Prestonsburg is known for its scenic beauty, rich cultural heritage, and a close-knit community. Also known as the "Star City," Prestonsburg has a population of approximately 3,000 residents.

Investment Highlights

  • Brand New 10-Year Absolute Triple-Net (NNN) Corporate Lease with Walgreens - Investment Grade Tenant
  • Five Percent Rental Increases Every Five Years with Multiple Renewal Options
  • Newly Constructed Small-Format Store - 2,500 Square Feet with a Drive-Thru and Pylon Signage
  • Located Directly Beside Prestonsburg Health Care Center, Prestonsburg Fire Department, and Prestonsburg City Offices
  • Close Proximity to National Retailers: Walmart, Goodwill, Big Lots, KFC, Dairy Queen, Ace Hardware, Taco Bell, Wendy's, and More
  • Conveniently Located Immediately Off of US-23, Major North-South State Highway
  • Only Five Miles South of Highlands ARH Regional Medical Center which Serves a Combined Population of Over 90,000

Exclusively Listed By

Broker of Record

  • Grant Fitzgerald

    Vice President/Regional Manager

    (502) 329-5900

    License(s) KY: 286261

    Kentucky

Financing By

Listing Price: $1,744,537

Cap Rate
5.95%
Tenant Name
Walgreen Co
Years Remaining On Lease
9.6
Gross SF
2,500
Guarantor
Corporate Guarantee
Rentable SF
2,500
Price/Gross SF
$697.81
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$41.52

Investment Highlights

  • Brand New 10-Year Absolute Triple-Net (NNN) Corporate Lease with Walgreens - Investment Grade Tenant
  • Five Percent Rental Increases Every Five Years with Multiple Renewal Options
  • Newly Constructed Small-Format Store - 2,500 Square Feet with a Drive-Thru and Pylon Signage
  • Located Directly Beside Prestonsburg Health Care Center, Prestonsburg Fire Department, and Prestonsburg City Offices
  • Close Proximity to National Retailers: Walmart, Goodwill, Big Lots, KFC, Dairy Queen, Ace Hardware, Taco Bell, Wendy's, and More
  • Conveniently Located Immediately Off of US-23, Major North-South State Highway
  • Only Five Miles South of Highlands ARH Regional Medical Center which Serves a Combined Population of Over 90,000

Investment Overview

Walgreens is an American pharmaceutical company which operates the largest drug retailing chain in the United States of America. It specializes in serving prescriptions, health and wellness products, health information and photo services. As of 2023, the company operates 8,700 stores in all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands. Prestonsburg is a historic and welcoming city located in Floyd County, in the valley of the Big Sandy River. Nestled in the foothills of the Appalachian Mountains in the eastern part of Kentucky, Prestonsburg is known for its scenic beauty, rich cultural heritage, and a close-knit community. Also known as the "Star City," Prestonsburg has a population of approximately 3,000 residents.

Exclusively Listed By

Broker of Record

  • Grant Fitzgerald

    Vice President/Regional Manager

    (502) 329-5900

    License(s): KY: 286261

    Kentucky

Financing By

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