No Walgreens for 23 Miles | Toyota Plant Nearby
Retail | 11.00% CAP | 14,703 SqFt
Marketing description
We are pleased to market for sale the Walgreens property located at 1915 W Broadway St, Princeton, IN 47670 ("The Property"). Walgreens has been operating at the site for 16 years and has ±8 years of firm term remaining before the option periods. Walgreens operates on an absolute triple net lease, which provides for no landlord obligations whatsoever.
Located less than 1 mile from the Property, Gibson General Hospital, part of the Deaconess Health System, serves as the area’s leading medical facility. The hospital provides 24-hour emergency care, outpatient services, and a full spectrum of specialty care to Gibson County and the surrounding region, making it a significant demand driver for pharmacy services. The Property is the only Walgreens location serving the city of Princeton, with the next nearest Walgreens pharmacy located over 22 miles away.
The Property is situated near one of the Midwest’s most important industrial employers, Toyota Motor Manufacturing Indiana (TMMI). The facility employs over 7,000 people and has produced more than 6 million vehicles since opening. With over $2.7 billion invested in recent expansions, including electric vehicle production, TMMI continues to play a central role in Princeton’s economy and long-term growth trajectory. In addition to TMMI, the surrounding industrial base includes over 4.2 million square feet of industrial space within a 5-mile radius.
Listed in conjunction with Brian Brockman, Bang Realty Inc, 513-898-1551, [email protected], IN DRE Lic. RB14037939.
Investment highlights
Since 2017, Toyota Motor Manufacturing Indiana (TMMI) has invested over $2.7 billion in plant expansions, including electric vehicle production. TMMI employs over 7,000 people and is located 6 miles away.
'The District' (258 units), is the city's first multifamily housing project in nearly a decade and is located 0.5 mile from the property.
The property serves as the only Walgreens property in Princeton, with the next closest Walgreens pharmacy 23 miles away.
Financing available for qualified buyers at 6% interest rate and 70% leverage allowing for a 15%+ cash on cash return ($1,100,000 down payment). Contact broker for details.
Less than 1 mile from the property, Gibson General Hospital serves as the region’s leading healthcare facility.
Average household incomes are in the $70,000 to $75,000 range within a 3, 5 and 10 mile radius.
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