Walgreens - Net Lease Property for Sale
Ripley, WV
Key Investment Metrics
Price
$2,916,000
Cap Rate
8.8%
Net Operating Income
$255,000
Building Size
11180 SF
Lot Size
11,180 SF
Land Area
1.18 Acres
Remaining Term
2 years
Lease Expiration
08/30/2027
Lease Term
10.7 years
Lease Commencement
12/29/2016
Lease Type
NNN
Tenant Credit
Credit Rated, Corporate Guarantee
Year Built
1999
Occupancy
100%
Tenancy
Single
Rent Increases
$40,000 increase on 9/1/2027, plus $11,180 every five years thereafter
About This Walgreens Net Lease Property
This Walgreens NNN (triple net lease) property is located in Ripley, WV and represents an excellent investment opportunity for commercial real estate investors. The property features 11180 square feet of building space and was built in 1999.
With a cap rate of 8.8%, this Walgreens net lease property offers stable income potential. The asking price is $2,916,000, making it an attractive option for 1031 exchange investors seeking quality Walgreens commercial properties.
Why Invest in Walgreens NNN Properties?
- Stable Income: Walgreens net lease properties provide predictable cash flow with minimal landlord responsibilities.
- Strong Tenant: Walgreens is a nationally recognized brand with proven operational success.
- 1031 Exchange Eligible: This property qualifies for 1031 tax-deferred exchanges, allowing investors to defer capital gains taxes.
- Triple Net Lease: The tenant is responsible for property taxes, insurance, and maintenance, reducing landlord obligations.
Ripley, WV Market Overview
Located in Ripley, WV, this Walgreens property benefits from strong local demographics and market fundamentals. The Ripley area offers excellent visibility and accessibility, making it an ideal location for Walgreens operations and a solid investment for net lease property buyers.