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Cooper Style Walgreens in Munfordville, KY

1006 Main St, Munfordville, KY, USA Map
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Listing Price $1,759,259

Status Closed
Lease Type Absolute Net
Property Type Retail
CAP Rate 5.4%
GLA (Sq. Ft.) 2,500
NOI $95,000
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
Close Date Mar 24, 2023

Investment Highlights

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  • Subject is a Prime “Cooper Style” 2,500 Square Foot Build-to-Suit Walgreens on 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 (8,958 VPD),and a Mile off of US-65 (48,207 VPD) (Source:LandVision, CoStar, 2022)
  • Investment-Grade Credit Tenant Walgreens BootsAlliance (NASDAQ: WBA) has a Long-Term StableCredit 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 $58,030 and Population of
    67,728 Within Twenty Miles of the Subject Asset, as of 2022
  • Subject is 60 Miles from Louisville International Airport, Serving 4.2 Million Passengers Annually (flylouisville.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 60 Miles from Downtown Louisville with a Population of 628,594

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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