Brand New Small Format Walgreens w/Drive Thru
411 West Stockton Street, Edmonton, KY, USA Map
Listing Price $1,992,661
| Status | Active |
| Lease Type | Absolute Net |
| Property Type | Retail |
| CAP Rate | 5.45% |
| GLA (Sq. Ft.) | 2,500 |
| NOI | $108,600 |
| Lease Term Remaining | 10 Years |
| Increases | 5% in year 6, 7.5% in each option |
| Options | 4 x 5 Years |
| State (BOR) | KY |
| Broker of Record | Colby Haugness |
| License # (BOR) | 242197 |
Investment Highlights
- Subject is a Prime Small Format 2,500 Square Foot Build-to-Suit Walgreens with Ample Parking, Pylon Signage, and Easy Ingress/Egress
- Absolute NNN Lease with a 10-Year Base Term and Zero Landlord Responsibility | Rent Escalation Every 5 Years, 4 x 5-Year Options
- Robust Traffic Counts on Main St (5,668 VPD) and Stockton St (6,925 VPD), a Mile off of Cumberland Expressway (4,386 VPD) (Source: LandVision, CoStar, 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 - Thriving Community with an Average Household Income of Over $56,427 Within Twenty Miles of the Subject Asset, as of 2022
- Subject is 95 Miles from Nashville International Airport, Serving 18.4 Million Passengers Annually (flynashville.com)
- Mammoth Cave National Park is Nearby, Totalling 52,830 Acres. The Park Contains the Mammoth Cave System, the Largest Cave System in the World
- Subject is 90 Miles from Downtown Nashville with a Population of 692,587
