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Absolute NNN Walgreens in Affluent Suburb of Columbus

6266 Gender Road, Canal Winchester, OH 43110, USA Map

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Listing Price $5,703,126

Status Active
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

Investment Highlights

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  • 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

Investment Overview

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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2020 Marcus & Millichap and Limon Net Lease Group

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