Walgreens Absolute NNN Lease – Strong Store Sales

3500 Central Ave, Lake Station, IN 46405, USA
$4,068,964

Description

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
(83,700Vehicles 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.

  • Walgreens (S&P BBB) Corporate Guaranteed Absolute NNN Lease (No Landlord Responsibilities)
  • Strong and Steady Sales Providing for High Renewal Probability at the end of the Lease
  • Located a Quarter Mile from the Interstate 94 Exit to Ripley Street (83,700 Vehicles Per Day)
  • 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

Property Documents

  • Walgreens-Lake-Station-IN-om-ib
  • City: Lake Station
  • State/county: Indiana
  • Zip/Postal Code: 46405
  • Country: United States

Detail

  • Price: $4,068,964
  • Year Built: 2002

Additional details

  • CAP RATE: 7.25%
  • NOI: $295,000

Features