Walgreens 16 Year NNN Lease | Established Location | Strong Sales

3500 Central Ave, Lake Station, IN 46405, USA
$5,900,000

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 (104,586 Vehicles per day), this property is located at the signalized intersection of Ripley Street and Central Avenue. This store experiences strong sales which is evidenced by the recent 16 year
lease extension showing strong commitment to the site.
This 14,490 Square Foot Walgreens is situated on a large 1.78 Acre parcel of land and experience traffic counts exceeding 25,000 vehicles per day. This property 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 and serves thousands of residents in the local community. Lake Station, Indiana is located 30 miles from Chicago and has a very dense population of 99,957 people.
Walgreens (NYSE: WBA) is a publicly traded company with an S&P Credit Rating of BBB and is ranked #19 in the Fortune 500 (2020). Walgreen Co. operates over 9,275 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)
  • Recent 16 Year Lease Extension Showing Strong Commitment to the Site
  • Established Location with Strong Store Sales
  • Located a Quarter Mile from the Interstate 94 Exit to Ripley Street (104,586 Vehicles Per Day)
  • Hard Corner Signalized Intersection with 25,194 Vehicles Per Day
  • Dense Demographics: 100,000+ 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: $5,900,000
  • Year Built: 2002

Additional details

  • CAP RATE: 5.00%
  • NOI: $295,000

Features