Walgreens
Single-Tenant Offerings
Walgreens
320 S Water St.
Kent (Cleveland MSA), OH
- Price:
- $4,488,000
- Cap Rate:
- 6.35%
- NOI:
- $285,000
- Rentable SQFT:
- 15,120 SF
- Year Built:
- 2000
- Lot Size:
- 1.68 +/- Acres
- Lease Type:
- NN
- Status:
- Available
Investment Highlights
- Original Long-Term 25-Year Lease, 6+ Years Remaining
- Strong Unit-Level Sales, Year-Over-Year Growth
- 22-Year Operating History at This Location
- Corporate Guaranty from Investment Grade Tenant (Rated BBB by S&P), Ranked 16th on Fortune 500
- Leading Pharmacy Store Chain in the U.S. with 9,270+ Locations
- Limited Landlord Responsibilities, Fee Simple Ownership
- Serving Approximately 92,000 Residents in Primary Trade Area
- Average Household Income Exceeds $75,000 within 3 Miles and $89,000 within 5 Miles
- Adjacent to Kent State University with 40,700 Students and 10,700 Employees, Undergoing a $1 Billion Campus Renovation
- 2.5 Miles to New $22 Million Summa Health Stow-Kent Medical Center, Projected to Serve 80-100 Patients Every Hour
- Hard Corner Location at Two Signalized Intersections with Over 33,600 Cars/Day
- Close Proximity to Several K-12 Schools with Over 8,000 Students
- Strong Daytime Population, Over 33,000 Employees within a 5-Mile Radius
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