Listed by Matthews
$2,916,000
Walgreens
Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 11,180
Cap Rate 8.75%
Tenancy Single
Brand/Tenant Walgreens
Lease Type NNN
Lease Expiration 08/31/2027
Rent Bumps Yes
Price per SqFt $261
Year Built 1999
Acreage 1.180
Investment Type Net Lease
Lease Commencement 12/30/2016
Ground Lease No
Ownership Fee Simple
Retail | 8.75% CAP | 11,180 SqFt
Investment highlights
- DRIVE-THRU PHARMACY | ±11,180 SF - Freestanding Walgreens featuring a drive-thru pharmacy situated on a highly visible parcel along Ripley's primary retail corridor.
- ATTRACTIVE RENT GROWTH - Lease features a substantial $40,000 rent increase during the first option period, followed by approximately $11,180 rent escalations every five years, providing strong long-term income growth.
- STRATEGIC I-77 LOCATION - Positioned just off Interstate 77, the primary north-south corridor connecting Charleston and Parkersburg, with strong visibility along Ripley's primary commercial corridor (±20,000 VPD).
- REGIONAL HEALTHCARE DEMAND DRIVER - Located near WVU Medicine Jackson General Hospital, a regional healthcare provider offering emergency care, surgery, cardiology, orthopedics, neurology, and specialty services, supporting consistent prescription demand.
- ESTABLISHED NATIONAL RETAIL CORRIDOR - Surrounded by national retailers including Walmart Supercenter, Kroger, McDonald's, Taco Bell, Wendy's, Sheetz, and AutoZone, generating steady daily consumer traffic.
- LIMITED PHARMACY COMPETITION - Walgreens is the only national pharmacy operator in Ripley, with the nearest Walgreens approximately 12 miles away. Walmart and Kroger pharmacies represent the only other major pharmacy competition within the trade area.
- STEADY POPULATION GROWTH - The surrounding trade area has experienced stable population growth from 2020-2025, including approximately 1.6% annual growth within one mile, supporting long-term healthcare and retail demand.
Listing Contacts
Listed by Matthews
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Zoning
B-R MixedMixed UseBusiness And Residential
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