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22284217
22284218

1321 Delaware Ave, Marion, OH 43302

TC
GA 374849
CBRE Atlanta
Listed by CBRE Atlanta
$4,104,000
447 days on market
Updated 86 days ago

Walgreens: Marion, OH

Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 14,751
Net Rentable (SqFt) 14,751
Units 1
Cap Rate 6.5%
NOI $266,760
Occupancy 100%
Tenancy Single
Brand/Tenant Walgreens
Lease Type Absolute NNN
Lease Expiration 05/30/2039
Remaining Term 13
Rent Bumps Yes
Lease Options Twelve, 5-Year Options
Year Built 2007
Buildings 1
Stories 1
Acreage 1.970
Parking Spaces 66 spaces
Parking Per SqFt 4.47
Investment Type Net Lease

Retail | 6.50% CAP | 14,751 SqFt

Marketing description

CBRE is pleased to exclusively offer for sale the 14,751 square-foot Walgreens situated on 1.97 acres in Marion, OH - a component of the Columbus, Marion, Zanesville, OH CSA (population: 2.1M+). The site is subject to a ±13.2-year absolute NNN lease with a 5% rent increase every 5 years throughout the term and in each of the twelve 5-year renewal options.

Investment highlights

NNN LEASE WITH RENEWAL OPTIONS

The site is subject to a ±13.2-year absolute NNN lease with a 5% rent increase every 5 years throughout the term and in

each of the twelve 5-year renewal options.

EXCELLENT ACCESS & VISIBILITY

Located approximately 41 miles north of Columbus, Walgreens is located with excellent access and visibility along Delaware

Avenue (13,143 VPD), just feet from its signalized intersection with Barks Road East (10,045 VPD). The site is immediately

adjacent to Speedway and Touchless Express Car Wash, and is directly across Delaware Avenue from Wendy’s and Arby’s.

RETAIL & COMMERCIAL CORRIDOR

In total, there are 3.7 MSF of retail, 4.4 MSF of industrial and 2,142 multi-family units within a 3-mile radius of the site. Major

retailers in the surrounding area include Kroger, Tractor Supply Company, McDonald’s, Taco Bell, Burger King and Family

Dollar, to name a few.

COLUMBUS–MARION–ZANESVILLE, OH CSA

The Columbus-Marion-Zanesville, OH Combined Statistical Area is a metropolitan area in central Ohio, USA. It is comprised

of three distinct areas: the Columbus, OH Metropolitan Statistical Area, the Marion, OH Micropolitan Statistical Area, and

the Zanesville, OH Micropolitan Statistical Area. With a population of approximately 2.1 million people, the CSA is the

32nd largest in the United States. The area serves as a significant economic and cultural hub in the state of Ohio, with

Columbus, the state capital, being the largest city and the center of the CSA.

Listing Contacts

TC
GA 374849
CBRE Atlanta
Listed by CBRE Atlanta

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$266,760.00
$22,230.00/mo

Valuation Metrics

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DSCR
6.5%
Cap Rate
6.5%
ROI

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