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27798606
27798607

1880 S Limestone St, Springfield, OH 45505

DB
OH BRKP.2020008390, MI 6502378067
Encore Real Estate Investment Services
DH
MI 6501373153
Encore Real Estate Investment Services
BH
MI 6501349119
Encore Real Estate Investment Services
Listed by Encore Real Estate Investment Services
$2,341,000
224 days on market
Updated 1 day ago

Walgreens

Details
Property Type Retail
Sub Type Convenience Store, Pharmacy/Drug (+1)
Square Footage 14,490
Cap Rate 10.25%
NOI $240,000
Occupancy 100%
Tenancy Single
Brand/Tenant Walgreens
Lease Type Absolute NNN
Lease Term 28.3
Lease Expiration 03/30/2030
Remaining Term 3.8
Lease Options Ten (10), Five-Year Options
Price per SqFt $162
Year Built 2001
Buildings 1
Acreage 1.970
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 01/01/2002

Absolute "NNN" Net Lease | 14,490 SF w/ Drive-Thru | 1.97 Acres

Marketing description

Introducing an exceptional investment opportunity at WALGREENS - 1880 S Limestone St, Springfield, OH 45505. This property features an absolute "NNN" net lease, encompassing 14,490 SF with a convenient drive-thru on 1.97 acres of prime land.

Boasting a highly sought-after location, this Walgreens property presents a secure and reliable income stream. The site is strategically positioned to capitalize on the bustling local market, offering stability and growth potential for discerning investors. With a prominent tenant like Walgreens, known for its strong brand presence and steady customer traffic, this property embodies a lucrative long-term investment.

Don't miss out on the chance to own a piece of this well-established and reputable commercial asset. Contact us today to seize this remarkable opportunity at WALGREENS - 1880 S Limestone St, Springfield, OH 45505.

Investment highlights

  • Absolute "NNN" Net Lease | Requires Zero Landlord Responsibilities

  • Recent Lease Renewal | Over 4 Years of Firm Term Remaining

  • 14,490 SF Building Equipped w/ Drive-Thru Situated on 1.97 Acres

  • Subject Site 2 Miles From Springfield Regional Medical Center (America's 250 Best Hospitals Award™ (2021)

  • 5-Mile Radius Population Exceeds: 77,000

  • S Limestone Street & E John Street Combined Traffic Counts: 23,000 VPD+/-

  • Within Immediate Access to Interstate I-70 (56,000 VPD+/-)

  • Springfield, OH is 45 miles west of Columbus and 25 miles northeast of Dayton

  • Surrounding National Tenants: Taco Bell, Rallys, Popeyes, Cracker Barrel, Rudy's Smokehouse, Advance Auto, Dunkin', Chipotle, Arby's, Bob Evans, Family Dollar, Hardee's, McDonald's, and more.

Listing Contacts

DB
OH BRKP.2020008390, MI 6502378067
Encore Real Estate Investment Services
DH
MI 6501373153
Encore Real Estate Investment Services
BH
MI 6501349119
Encore Real Estate Investment Services
Listed by Encore Real Estate Investment Services

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$240,000.00
$20,000.00/mo

Valuation Metrics

0
DSCR
10.25%
Cap Rate
10.25%
ROI

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Additional Information

Name
Deno Bistolarides
License
BRKP.2020008390
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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