Drug Store

Walgreens, Lake Station, IN

3500 Central Ave, Lake Station, IN 46405

Listing Price: $4,068,964

Cap Rate
7.25%
Tenant Name
Walgreens
Years Remaining On Lease
1.60
Gross SF
14,490
Guarantor
Corporate Guarantee
Rentable SF
14,490
Price/Gross SF
$280.81
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$20.36

Investment Overview

Marcus & Millichap is please to present for sale this Walgreens
located at 3500 Central Avenue in Lake Station, Indiana. Situated
a quarter mile from the Interstate 94 Exit to Ripley Street
(83,700 Vehicles per day), this property is located at the signalized
intersection of Ripley Street and Central Avenue. This store
experiences strong store sales and has very high lease renewal
probability at the end of the base term. This 14,490 Square Foot
Walgreens Is situated on a large 1.78 Acre Parcel of Land and
experience traffic counts exceeding 29,212 Vehicles Per Day.
This Walgreens is a four minute walk from Thomas Edison Senior
High School (over 600 Students) and very close to Virgil Bailey
Elementary and Carl J. Polk Elementary Schools. Lake Station,
Indiana is located 30 miles from Chicago and has a very dense
population of 100,568 people.
Walgreens (NYSE: WBA) is a publicly traded company with an S&P
Credit Rating of BBB and is ranked #17 in the Fortune 500 (2019).
Some financial highlights include 2018 Revenues of $131.537
billion and 2018 Net Profits of $5.024 billion. Walgreen Co. operates
over 8,200 stores in all 50 states, the District of Columbia, Puerto
Rico and Guam. The company also operates worksite health centers,
home care facilities, and specialty and mail service pharmacies.

Investment Highlights

  • Walgreens (S&P BBB) Corporate Guaranteed Absolute NNN Lease
  • Strong and Steady Sales Providing for High Renewal Probability
  • Located a Quarter Mile from the Interstate 94 Exit to Ripley Street
  • Hard Corner Signalized Intersection with 29,212 Vehicles Per Day
  • Dense Demographics: 100,568 People Located within a 5 Mile Radius of the Property
  • Walking Distance (Four minutes) from Thomas Edison Senior High School 600+ Students

Exclusively Listed By

Drug Store

Walgreens, Lake Station, IN

Listing Price: $4,068,964

Cap Rate
7.25%
Tenant Name
Walgreens
Years Remaining On Lease
1.60
Gross SF
14,490
Guarantor
Corporate Guarantee
Rentable SF
14,490
Price/Gross SF
$280.81
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$20.36

Investment Highlights

  • Walgreens (S&P BBB) Corporate Guaranteed Absolute NNN Lease
  • Strong and Steady Sales Providing for High Renewal Probability
  • Located a Quarter Mile from the Interstate 94 Exit to Ripley Street
  • Hard Corner Signalized Intersection with 29,212 Vehicles Per Day
  • Dense Demographics: 100,568 People Located within a 5 Mile Radius of the Property
  • Walking Distance (Four minutes) from Thomas Edison Senior High School 600+ Students

Investment Overview

Marcus & Millichap is please to present for sale this Walgreens
located at 3500 Central Avenue in Lake Station, Indiana. Situated
a quarter mile from the Interstate 94 Exit to Ripley Street
(83,700 Vehicles per day), this property is located at the signalized
intersection of Ripley Street and Central Avenue. This store
experiences strong store sales and has very high lease renewal
probability at the end of the base term. This 14,490 Square Foot
Walgreens Is situated on a large 1.78 Acre Parcel of Land and
experience traffic counts exceeding 29,212 Vehicles Per Day.
This Walgreens is a four minute walk from Thomas Edison Senior
High School (over 600 Students) and very close to Virgil Bailey
Elementary and Carl J. Polk Elementary Schools. Lake Station,
Indiana is located 30 miles from Chicago and has a very dense
population of 100,568 people.
Walgreens (NYSE: WBA) is a publicly traded company with an S&P
Credit Rating of BBB and is ranked #17 in the Fortune 500 (2019).
Some financial highlights include 2018 Revenues of $131.537
billion and 2018 Net Profits of $5.024 billion. Walgreen Co. operates
over 8,200 stores in all 50 states, the District of Columbia, Puerto
Rico and Guam. The company also operates worksite health centers,
home care facilities, and specialty and mail service pharmacies.

Exclusively Listed By

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