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Drug Store

Walgreens | Absolute NNN with 16+ Years Remaining

985 N Arlington Ave, Indianapolis, IN 46219

Listing Price: $8,663,000

Cap Rate
5.25%
Tenant Name
Walgreens
Years Remaining On Lease
16.4
Guarantor
Corporate Guarantee
Rentable SF
14,490
Lease Type
Absolute Net
Rent Per Square Feet
$31.39

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire a 16+ year absolute NNN lease Walgreens located in Indianapolis, Indiana. The offering is an ideal investment for an investor looking for a well-located drug store in a major city with a long-term lease in place with zero landlord responsibilities featuring an investment grade credit tenant. Located within the Irvington Historic District the surrounding area has seen a recent revitalization with an influx of new investment. According to the Indianapolis Star the Irvington area has seen strong home sales growth and is one of the hottest housing markets within the Indianapolis submarket. Surrounded by residential communities this location has a captive customer base within walking distance of the subject property. The property is also one of the closest drug stores to Community Health East Hospital , a 300+ bed hospital campus which underwent a $175 million dollar renovation in 2015, demonstrating a commitment to the area. Built in 2012 as a relocation store, the property sits on a 1.27-acre site at the hard-corner signalized intersection of 10th Street and North Arlington Avenue, which experiences approximately 40,000 vehicles-per-day in front of the site. It’s also well positioned along the Indianapolis bus system route of IndyGo and has two bus stops on both the north & western sides of the property, allowing for additional foot traffic in front of the subject property.

Investment Highlights

  • Absolute NNN Lease with Zero Landlord Responsibilities
  • Long-Term Lease with 16+ Years Remaining
  • Investment-Grade Corporate Tenant with S&P BBB Credit Rating
  • Downtown Location, Surrounded by Dense Residential Communities
  • One Mile from a Community Health Network Hospital | 300+ Bed Campus
  • Hard-Corner Signalized Intersection on Retail Trade Corridor

Exclusively Listed By

Drug Store

Walgreens | Absolute NNN with 16+ Years Remaining

Listing Price: $8,663,000

Cap Rate
5.25%
Tenant Name
Walgreens
Years Remaining On Lease
16.4
Guarantor
Corporate Guarantee
Rentable SF
14,490
Lease Type
Absolute Net
Rent Per Square Feet
$31.39

Investment Highlights

  • Absolute NNN Lease with Zero Landlord Responsibilities
  • Long-Term Lease with 16+ Years Remaining
  • Investment-Grade Corporate Tenant with S&P BBB Credit Rating
  • Downtown Location, Surrounded by Dense Residential Communities
  • One Mile from a Community Health Network Hospital | 300+ Bed Campus
  • Hard-Corner Signalized Intersection on Retail Trade Corridor

Investment Overview

Marcus & Millichap, as exclusive advisor, is pleased to present the opportunity to acquire a 16+ year absolute NNN lease Walgreens located in Indianapolis, Indiana. The offering is an ideal investment for an investor looking for a well-located drug store in a major city with a long-term lease in place with zero landlord responsibilities featuring an investment grade credit tenant. Located within the Irvington Historic District the surrounding area has seen a recent revitalization with an influx of new investment. According to the Indianapolis Star the Irvington area has seen strong home sales growth and is one of the hottest housing markets within the Indianapolis submarket. Surrounded by residential communities this location has a captive customer base within walking distance of the subject property. The property is also one of the closest drug stores to Community Health East Hospital , a 300+ bed hospital campus which underwent a $175 million dollar renovation in 2015, demonstrating a commitment to the area. Built in 2012 as a relocation store, the property sits on a 1.27-acre site at the hard-corner signalized intersection of 10th Street and North Arlington Avenue, which experiences approximately 40,000 vehicles-per-day in front of the site. It’s also well positioned along the Indianapolis bus system route of IndyGo and has two bus stops on both the north & western sides of the property, allowing for additional foot traffic in front of the subject property.

Exclusively Listed By

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