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31821934
31821935

71 W Main St, Buckhannon, WV 26201

BB
WV B200300608, OH BRK.200900214 (+21)
Bang Realty
Listed by Bang Realty
$3,358,385
44 days on market
Updated 44 days ago
Opportunity zone

Only Operating Walgreens for 15 Miles | Abs NNN

Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 11,907
Cap Rate 13%
NOI $436,590
Tenancy Single
Brand/Tenant Walgreens
Lease Type Absolute NNN
Lease Expiration 02/29/2028
Remaining Term 1.7
Rent Bumps Yes
Lease Options 8 (5-Year)
Price per SqFt $282
Year Built 2008
Acreage 1.040
Investment Type Net Lease

Retail | 13.00% CAP | 11,907 SqFt

Marketing description

We are pleased to market for sale the Walgreens property located at 71 W Main St, Buckhannon, WV 26201 ("The Property"). Walgreens has been operating at the site for 17 years and has 2 years of firm term remaining before the 8 (5-year) option periods. Walgreens operates under a absolute triple net lease, which provides for no landlord obligations whatsoever.

The Property is uniquely positioned as the only Walgreens in Buckhannon, with the next nearest location over 15 miles away, making it a critical provider of pharmacy services to the surrounding community. Strategically located less than half a mile from St. Joseph's Hospital, the county’s only Level IV trauma center, the Property benefits from a healthy customer base driven by 24/7 emergency and healthcare services.

The property is positioned on the main retail corridor in this market and is surrounded by numerous national retail tenants including Walmart Supercenter, Lowe’s, Kroger, and Tractor Supply. This corridor is host to the only national big-box tenants in a 12-mile radius, drawing consumers from the neighboring markets. West Virginia Wesleyan College is located less than 1 mile from the Property with over 1,050 students and a staff of over 135 employees further adding to the customer base at this location.

Investment highlights

  • The only occupied Walgreens for over 15 miles away with operating history of 18+ years.
  • Less than half a mile from the property, St. Joseph's Hospital is the only level IV trauma center in Upshur County.
  • The lease is an absolute NNN lease with zero landlord obligations whatsoever.
  • The property is surrounded by national retail tenants such as Walmart Supercenter, Lowe’s, Kroger, and Tractor Supply, and has the only national big-box tenants in a 12-mile radius.
  • Located less than 1 mile West Virginia Wesleyan College.

Listing Contacts

BB
WV B200300608, OH BRK.200900214 (+21)
Bang Realty
Listed by Bang Realty

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$436,590.00
$36,382.50/mo

Valuation Metrics

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DSCR
13%
Cap Rate
13%
ROI

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Additional Information

Name
Brian Brockman
License
B200300608
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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