Walgreens
Madisonville, KY
Key Details
| Price: | $3,492,000 |
|---|---|
| Cap Rate: | 6.25% |
| Annual Rent: | $218,250 |
| Address: | 679 South Main Street, Madisonville, Kentucky 42431 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Expiration: | 20 Years from Close of Escrow |
| Lease Term Remaining: | 20 Years |
| Rental Increases: | 5.00% Every 5 Years |
| Lot Size: | 1.85 Acres |
| Building Size: | 12,935 SF |
| Year Built: | 2007 |
NNN Pro and Bang Realty are pleased to present the exclusive listing for a Walgreens located at 679 South Main Street, Madisonville, Kentucky 42431. The site consists of roughly 12935 rentable square feet of building space on an estimated 1.85-acre parcel of land. This Walgreens is subject to a 20-year Triple Net (NNN) lease, which will commence upon close of escrow. The annual rent will be $218,250 and has scheduled increases of 5.00% Every 5 Years.
About the Investment
- Long-Term Absolute Triple-Net (NNN) Lease | This investment property is subject to a 14-year, absolute triple-net (NNN) lease, with zero landlord responsibilities.
- Corporate Guarantee | Walgreens is one of the nation's largest leading drugstore chains, operating 8,600+ drugstores with a presence in all 50 states, the District of Columbia, Puerto Rico, and the U.S. Virgin Islands. Walgreens is publicly traded on the NYSE under the ticket symbol "WBA" and amassed $147.7 billion in sales in 2024.
- Rare Rental Increases | Rental increases in Walgreens and CVS are rare in the base term of the lease, and this site features a lease structure with 5% increases every 5 years.
- Large Lot Size | This property features a large 1.85-acre lot located on a hard corner and a four-way signalized intersection.
Key Details
| Price: | $3,492,000 |
|---|---|
| Cap Rate: | 6.25% |
| Annual Rent: | $218,250 |
| Address: | 679 South Main Street, Madisonville, Kentucky 42431 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Expiration: | 20 Years from Close of Escrow |
| Lease Term Remaining: | 20 Years |
| Rental Increases: | 5.00% Every 5 Years |
| Lot Size: | 1.85 Acres |
| Building Size: | 12,935 SF |
| Year Built: | 2007 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Alexandre Marietto
amarietto@nnnpro.com
License: NY: 10401294047
Robert Stein
rstein@nnnpro.com
License: NY: 10401341647
Davis Ford
dford@nnnpro.com
License: NY: 10401379279
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.