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29816011

144 E Main St, Ravenna, OH 44266

JG
CA 01819611
AiCRE Partners
Listed by AiCRE Partners
$3,406,000
106 days on market
Updated 3 days ago

Walgreens | 144 E. Main St. Ravenna, OH

Details
APN 31-366-10-00-033-001
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 14,820
Cap Rate 7.4%
NOI $251,940
Occupancy 100%
Tenancy Single
Brand/Tenant Walgreens
Lease Type NNN
Lease Term 13
Lease Expiration 08/31/2035
Remaining Term 9.2
Rent Bumps Yes
Lease Options Twelve 5-year renewal options
Price per SqFt $230
Buildings 1
Stories 1
Acreage 1.220
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 09/01/2022
Occupancy Date 09/01/2022
Ownership Fee Simple

Retail | 7.40% CAP | 14,820 SqFt

Marketing description

AiCRE Partners, as exclusive investment sales advisor to Seller, is pleased to offer the opportunity to acquire the fee simple interest in the Walgreens located at 144 E. Main Street in Ravenna, Ohio. The property is occupied by Walgreens, one of the nation’s largest and most established pharmacy-led retailers, operating thousands of locations across the United States and serving as a daily-needs anchor in communities nationwide. Walgreens benefits from strong brand recognition, essential-service demand, and a resilient business model supported by prescription drug sales, health services, and convenience retail offerings.

The property is strategically positioned along East Main Street, a primary commercial thoroughfare through Ravenna, providing strong visibility, easy access, and proximity to the city’s central business district. Its location allows it to effectively serve both local residents and commuter traffic while benefiting from nearby civic, educational, and retail uses that reinforce consistent customer traffic.

Ravenna serves as the county seat of Portage County and functions as a regional hub for government, healthcare, and education within Northeast Ohio. The area is supported by stable demographics, a diversified employment base, and convenient access to larger regional markets including Kent, Akron, and Cleveland. As an established infill location leased to a nationally recognized, creditworthy tenant, the Walgreens at 144 E. Main Street presents investors with an opportunity to acquire a durable net-leased asset backed by long-term fundamentals and essential retail demand.

Investment highlights

  • Exceptional Unit-Level Performance

  • Fee Simple Absolute NNN Lease Structure

  • Corporate Guarantee from Walgreens Co.

  • Long-Term 13-Year Corporate Lease

  • Built-In 5% Rental Increases Every Five Years

  • Fortune 500 Tenant Ranked #26 (2025)

Listing Contacts

JG
CA 01819611
AiCRE Partners
Listed by AiCRE Partners

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$251,940.00
$20,995.00/mo

Valuation Metrics

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DSCR
7.4%
Cap Rate
7.4%
ROI

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