Walgreens
Retail Property For Sale
Marketing description
Introducing an exceptional investment opportunity at WALGREENS located at 520 Broadway Avenue, Bedford, OH 44146. This prime retail property is exclusively listed and boasts a sale price of $3,406,000 with a competitive 7.4% CAP rate and an NOI of $251,940.
The property features a 14,846 SF building on 1.57 acres with a long-term Absolute NNN lease in place, providing an average return of 7.81% over the next nine years. Ideally situated near the University Hospitals Bedford Campus and surrounded by a densely populated Cleveland suburb, this Walgreens location offers a stable investment with a strong tenant profile.
With a lease term of 13 years and options for 12 additional five-year terms, along with 5% rent bumps every 5 years, this property presents a lucrative opportunity in an established retail corridor with high traffic counts and convenient access. Don't miss out on this high-performing Walgreens property!
Investment highlights
Absolute NNN lease with zero landlord responsibilities
Average return over the next nine years of 7.81%
Walgreens early extension demonstrates long-term commitment to this location
Within 0.4 miles of University Hospitals Bedford Campus (197,757 SF)
University Hospitals ranks as the 3rd-largest hospital system in Ohio with annual revenue exceeding $6.64 billion
High-performing Walgreens location – inquire with broker for details
Densely populated Cleveland suburb with 157K+ residents within a 5-mile radius
Established middle-class community with average household incomes of $70K+ within a 5-mile radius
Positioned at the signalized intersection of Broadway Ave and W Grace St with combined traffic counts of 20,688 vehicles per day
Easily accessible with multiple points of ingress/egress and ample on-site parking
Situated within a retail corridor surrounded by national retailers including Burger King, Dollar General, CVS Pharmacy, Sam’s Club, and Wendy’s
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