Walgreens
Highland Heights, KY
Key Details
| Price: | $3,920,000 |
|---|---|
| Cap Rate: | 6.25% |
| Annual Rent: | $245,000 |
| Address: | 2840 Alexandria Pike, Highland Heights, Kentucky 41076 |
| Property Type: | Retail |
| Lease Type: | Double Net (NN) |
Property Data
| Original Lease Term: | 36 Years |
|---|---|
| Lease Commencement: | 12/6/1997 |
| Lease Expiration: | 12/31/2033 |
| Lease Term Remaining: | 9 Years |
| Rental Increases: | 10.00% In Options |
| Lot Size: | 1.66 Acres |
| Building Size: | 13,905 SF |
| Year Built: | 1997 |
NNN Pro and Bang Realty are pleased to present the exclusive listing for a Walgreens located at 2840 Alexandria Pike, Highland Heights, Kentucky 41076. The site consists of roughly 13905 rentable square feet of building space on an estimated 1.66-acre parcel of land. This Walgreens is subject to a 36-year Double Net (NN) lease, which commenced 12/6/1997. The current annual rent is $245,000 and has scheduled increases of 10.00% In Options.
About the Investment
- Kroger Express The subject investment property has a Kroger Express located inside of the Walgreens store, increasing foot traffic at the location.
- Corporate Guarantee The subject investment property's lease is corporately guaranteed through Walgreens, which generated $139 BIllion of revenue in 2023.
- Double Net (NN) Lease The subject property is subject to a double net lease with minimal landlord responsibilities.
Key Details
| Price: | $3,920,000 |
|---|---|
| Cap Rate: | 6.25% |
| Annual Rent: | $245,000 |
| Address: | 2840 Alexandria Pike, Highland Heights, Kentucky 41076 |
| Property Type: | Retail |
| Lease Type: | Double Net (NN) |
Property Data
| Original Lease Term: | 36 Years |
|---|---|
| Lease Commencement: | 12/6/1997 |
| Lease Expiration: | 12/31/2033 |
| Lease Term Remaining: | 9 Years |
| Rental Increases: | 10.00% In Options |
| Lot Size: | 1.66 Acres |
| Building Size: | 13,905 SF |
| Year Built: | 1997 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Armond Aivazyan
aaivazyan@nnnpro.com
License: CA: 01954384 | NY: 10401387457 | NV: S.0201843
Broker of Record
Brian Brockman
Bang Realty, Inc
License: 204982
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This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.