Walgreens for Sale in Ripley, WV
Ripley, WV
Key Investment Metrics
Price
$2,916,000
Cap Rate
8.8%
Net Operating Income
$255,000
Building Size
11180 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
Property overview
Walgreens in Ripley
Review the reported property and lease details, then request the supporting documents for your acquisition review.
- Building area
- 11,180 SF
- Land area
- 1.18 acres
- Year built
- 1999
- Lease type
- NNN
- Lease expiration
- 08/30/2027
Confirm current availability, pricing and lease terms through the inquiry form before relying on this listing.
Before you make an offer
Four things to verify
- 1
Lease and guaranty
Request the executed lease and amendments. Identify the legal tenant, guarantor and landlord obligations.
- 2
Income and expenses
Obtain the rent roll and operating statement supporting the advertised NOI and cap rate.
- 3
Property condition
Review survey, title, condition and environmental information relevant to this property.
- 4
Exchange requirements
For a 1031 exchange, confirm eligibility and deadlines with your qualified intermediary and tax adviser.