Absolute NNN Walgreens in Affluent Suburb of Columbus
6266 Gender Road, Canal Winchester, OH 43110, USA Map
Listing Price $5,703,126
| Status | Closed |
| Lease Type | Absolute Net |
| Property Type | Retail |
| CAP Rate | 6.4% |
| GLA (Sq. Ft.) | 14,560 |
| NOI | $365,000 |
| Lease Term Remaining | 6.5 Years |
| Options | 10 x 5 Years |
| State (BOR) | OH |
| Broker of Record | Michael Glass |
| License # (BOR) | BRK 2007005898 |
| Close Date | Mar 17, 2023 |
Investment Highlights
- Subject is a Prime 14,560 Square-Foot Build-to-Suit
Walgreens on a 1.96-Acre Lot with Ample Parking, Pylon Signage, Easy Ingress/Egress, Strategically Located on a Signalized Intersection - Absolute NNN Lease with a 25-Year Base Term and Zero Landlord Responsibility | Over Six Years Remaining and 10 x 5-Year Options
- Robust Traffic Counts on Gender Road (17,506 VPD) and Winchester Boulevard (9,774 VPD), a Quarter Mile off of US Highway 33 (53,743 VPD) (Source: LandVision, CoStar, ODOT, 2022)
- Investment-Grade Credit Tenant Walgreens Boots Alliance (NASDAQ: WBA) has a Long-Term Stable Credit Rating of Baa2 (Stable) from Moody’s and Investment Grade Rating of BBB (Stable) from S&P
- Well Established Retail Area | Nearby National Retailers Include: Walmart, Dollar Tree, Starbucks, AutoZone, Kroger, Hampton Inn, Popeyes, Best Western, Buffalo Wild Wings, Chipotle, Wendy’s, and Others
- Affluent Community with an Average Household Income of Over $87K within Five Miles of the Subject Asset, as of 2022
- Subject is 13 Miles from John Glenn Columbus International Airport, Serving 6 Million Passengers Annually and 13 Miles from Downtown Columbus, with a Population of 906K (flycolumbus.com)
- Parks and Outdoor Recreational Facilities Nearby Include: Westchester Golf Course, George Bareis Nature Preserve, Walnut Woods Metro Park, Franklin Park Conservatory, National Veterans Museum, Scioto Audubon Metro Park, and all that Columbus has to Offer
