Drug Store

Walgreens (25+Yrs Occupancy, Recent Extension, Prime Intersection)

1505 E 86th St, Indianapolis, IN 46240

Listing Price: $3,833,334

Cap Rate
6.00%
Tenant Name
Walgreens
Years Remaining On Lease
9.20
Guarantor
Corporate Guarantee
Rentable SF
13,500
Lease Type
Double Net
Rent Per Square Feet
$17.04

Investment Overview

Marcus & Millichap has been retained as exclusive advisor to market for sale a Walgreens investment located within the Nora submarket of Indianapolis, Indiana at the hard corner, signalized intersection of East 86th Street & Westfield Boulevard. Walgreens has been at the subject site for 25+ years and recently exercised a new, ten-year lease extension through January 2030. Situated on 1.5 acres adjacent to North Central High School (one of the largest in the state), the property is well positioned and serves as a hub intersection for an abundance of residential, retail, & office properties nearby. A new luxury apartment development, Notch at Nora, was just developed across the street & notable retailers in the immediate area include Whole Foods, Super Target, Kroger, ALDI, Marshall’s, CVS & Total Wine. The property is one-mile from Keystone at the Crossing Office Park, The Fashion Mall & Ironworks, which cater to the nearby dense and affluent demographic, comprise of some of the highest-end retailers in the state & offer a destination location for daytime employment and night/weekend amenities. Walgreens (NASDAQ:WBA) is one of the largest pharmacy companies in the world and has an investment-grade corporate credit rating through the major credit rating agencies. The property offers an incoming investor the opportunity to own a net-leased Walgreens with passive long-term cash flow on a one and one-half acre real estate site on a premier hard-corner intersection in an established Indianapolis submarket of Indianapolis with a significant amount of long-term future development growth potential nearby.

Investment Highlights

  • Walgreens recently extended the lease for an additional 10 years through January 2030.
  • Tenant has occupied the subject site for 25+ years.
  • Subject property sits at a signalized corner intersection within a dense infill location of a premier northern Indianapolis suburb.
  • Within a three-mile radius there are approximately 194,000 people with an average household income exceeding $103,000 annually.

Exclusively Listed By

Drug Store

Walgreens (25+Yrs Occupancy, Recent Extension, Prime Intersection)

Listing Price: $3,833,334

Cap Rate
6.00%
Tenant Name
Walgreens
Years Remaining On Lease
9.20
Guarantor
Corporate Guarantee
Rentable SF
13,500
Lease Type
Double Net
Rent Per Square Feet
$17.04

Investment Highlights

  • Walgreens recently extended the lease for an additional 10 years through January 2030.
  • Tenant has occupied the subject site for 25+ years.
  • Subject property sits at a signalized corner intersection within a dense infill location of a premier northern Indianapolis suburb.
  • Within a three-mile radius there are approximately 194,000 people with an average household income exceeding $103,000 annually.

Investment Overview

Marcus & Millichap has been retained as exclusive advisor to market for sale a Walgreens investment located within the Nora submarket of Indianapolis, Indiana at the hard corner, signalized intersection of East 86th Street & Westfield Boulevard. Walgreens has been at the subject site for 25+ years and recently exercised a new, ten-year lease extension through January 2030. Situated on 1.5 acres adjacent to North Central High School (one of the largest in the state), the property is well positioned and serves as a hub intersection for an abundance of residential, retail, & office properties nearby. A new luxury apartment development, Notch at Nora, was just developed across the street & notable retailers in the immediate area include Whole Foods, Super Target, Kroger, ALDI, Marshall’s, CVS & Total Wine. The property is one-mile from Keystone at the Crossing Office Park, The Fashion Mall & Ironworks, which cater to the nearby dense and affluent demographic, comprise of some of the highest-end retailers in the state & offer a destination location for daytime employment and night/weekend amenities. Walgreens (NASDAQ:WBA) is one of the largest pharmacy companies in the world and has an investment-grade corporate credit rating through the major credit rating agencies. The property offers an incoming investor the opportunity to own a net-leased Walgreens with passive long-term cash flow on a one and one-half acre real estate site on a premier hard-corner intersection in an established Indianapolis submarket of Indianapolis with a significant amount of long-term future development growth potential nearby.

Exclusively Listed By

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