Only Operating Walgreens for 26 Miles I 5% Increases
Retail | 12.50% CAP | 14,381 SqFt
Marketing description
We are pleased to market for sale the Walgreens property located at 1528 Main St, Parsons, KS 67357 ("The Property"). Walgreens has been operating at the site for 20 years and has 3 years of firm term remaining before the 12 (5-year) option periods. Walgreens operates on an absolute triple net lease, which provides for no landlord obligations whatsoever and calls for a 5% increase in the first four options.
The property benefits from minimal drugstore competition with the next nearest Walgreens 26 miles away and the nearest CVS over 45 miles away. Located less than one mile from Labette Health, a full-service hospital and Level IV trauma center, the pharmacy segment benefits from being the only national chain pharmacy servicing one of the city's largest and most critical institutions.
Adjacent to the Property, Labette Community College enrolls over 1,500 students annually and adds to the area's educational and economic base. The site is also surrounded by a mix of national and regional tenants, including Walmart, Dollar Tree, AutoZone, and multiple fast food operators, reinforcing the area's position as a key retail hub for the broader region.
Listed in conjunction with Brian Brockman, Bang Realty - Kansas Inc., 513-898-1551, wg@bangrealty.com, KS DRE Lic. 239819.
Investment highlights
- The only occupied Walgreens or CVS pharmacy for over 26 miles away with operating history of 21+ years.
- Labette Health (1.7 mi) a 99-bed hospital serves as the only major hospital system in Parsons and provides services to the six-county area.
- Absolute NNN lease with zero landlord obligations whatsoever, with 5% rental increases in the first four options.
- Located 1.5 miles from the property, Parsons Research Center is a partnership between Kansas State University and federal, state, and county governments conducting research throughout Kansas.
- Adjacent to the property, Labette Community College enrolls over 1,500 students annually.
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Is there information that looks off?
