Listed by Marcus & Millichap SWM Group
$2,890,909
Walgreens Absolute NNN | Kendallville, IN
Details
APN 570733440016000020
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 14,820
Net Rentable (SqFt) 14,820
Units 1
Cap Rate 11%
NOI $318,000
Occupancy 100%
Tenancy Single
Brand/Tenant Walgreens
Lease Type Absolute NNN
Lease Term 75
Lease Expiration 01/30/2083
Remaining Term 56.6
Rent Bumps No
Lease Options None
Price per SqFt $195
Broker Co-Op Yes
Year Built 2008
Buildings 1
Stories 1
Acreage 1.840
Parking Spaces 74 spaces
Parking per 1,000 SqFt 4.99
Investment Type Net Lease
Lease Commencement 01/31/2008
Occupancy Date 01/31/2008
Ground Lease No
Ownership Fee Simple
NNN Walgreens with a Corporate Guarantee
Marketing description
This Walgreens investment features a corporate-guaranteed absolute NNN lease, offering complete passivity and long-term stability. The tenant has operated at this high-traffic location since 2008 and faces no nearby competition, with the nearest Walgreens over 10 miles away. Positioned along E North Street with strong visibility and over 18,000 vehicles per day, the site benefits from nearby retail drivers like Cornerstone Plaza and Publix Village Square, which attract nearly 2 million annual visitors. With a five-mile average household income of $84,506, this property combines reliability, strong demographics, and minimal competition.
Investment highlights
- Absolute NNN Walgreens | Corporate guarantee
- Tenant has been operating at this location since 2008
- Limited competition | Only Walgreens location within a 10+ mile radius
- Nearly 130ft of frontage along E North St which sees 18,192 vehicles per day
- Situated across the street from Cornerstone Plaza which ranks in the top 20% of strip center in Indiana by visits (Placer.ai)
Listing Contacts
Listed by Marcus & Millichap SWM Group
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Loan Amount
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Annual Debt Service
$--
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Annual Cash Flow
$318,000.00
$26,500.00/mo
Valuation Metrics
0
DSCR
11%
Cap Rate
11%
ROI
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