Walgreens 1201 Main St E
11,180 SF Retail Building Oak Hill, WV 25901 $1,640,106 ($147/SF) 10% Cap Rate
INVESTMENT HIGHLIGHTS
- Walgreens took over this location from Rite Aid in 2018 – on average they spend $300,000+ to convert locations
- Drive-thru equipped location
- Within proximity to US Highway 19 (22,478 VPD)
- Walgreens is an investment grade rated tenant (Standard & Poor’s: BBB)
- Signalized intersection (Main Street East & Oyler Avenue)
- Tenants in the area include Tractor Supply Company, McDonald’s, O’Reilly Auto Parts, Dollar Tree, U-Haul, Chevrolet, Advance Auto Parts, and Others
EXECUTIVE SUMMARY
Bang Realty is pleased to exclusively market for sale a single tenant net leased Walgreens property located in Oak Hill, West Virginia.
Walgreens assumed operations at this location from Rite Aid in 2018 who was operating since 2000. On average, Walgreens spends
$300,000 to convert pharmacy locations into their prototype. The lease runs through February 2029 and features rental escalations
in each of the four 5-year renewal options. This location features a drive-thru pharmacy as well.
The 11,180 square foot building benefits from its location at the signalized intersection of Main Street East & Oyler Avenue. The area
is supported by a number of nationally recognized tenants including Tractor Supply Company, McDonald’s, O’Reilly Auto Parts, Dollar
Tree, U-Haul, Chevrolet, Advance Auto Parts, and several others. The subject property is also less than one mile from Fayette Institute
of Technology and Oak Hill Highschool. This Walgreens location is also within proximity to US Highway 19 which experiences
over 22,478 vehicles per day. Lastly, there are 21,227 people that live within seven miles of the property that earn $61,301 on average.
Walgreens is included in the Retail Pharmacy USA Division of Walgreens Boots Alliance, Inc. (Nasdaq: WBA), a global leader in retail
pharmacy. As America’s most loved pharmacy, health and beauty company, Walgreens purpose is to champion the health and wellbeing
of every community in America. Operating more than 9,000 retail locations across America, Puerto Rico and the U.S. Virgin
Islands, Walgreens is proud to be a neighborhood health destination serving approximately 8 million customers each day.
Walgreens assumed operations at this location from Rite Aid in 2018 who was operating since 2000. On average, Walgreens spends
$300,000 to convert pharmacy locations into their prototype. The lease runs through February 2029 and features rental escalations
in each of the four 5-year renewal options. This location features a drive-thru pharmacy as well.
The 11,180 square foot building benefits from its location at the signalized intersection of Main Street East & Oyler Avenue. The area
is supported by a number of nationally recognized tenants including Tractor Supply Company, McDonald’s, O’Reilly Auto Parts, Dollar
Tree, U-Haul, Chevrolet, Advance Auto Parts, and several others. The subject property is also less than one mile from Fayette Institute
of Technology and Oak Hill Highschool. This Walgreens location is also within proximity to US Highway 19 which experiences
over 22,478 vehicles per day. Lastly, there are 21,227 people that live within seven miles of the property that earn $61,301 on average.
Walgreens is included in the Retail Pharmacy USA Division of Walgreens Boots Alliance, Inc. (Nasdaq: WBA), a global leader in retail
pharmacy. As America’s most loved pharmacy, health and beauty company, Walgreens purpose is to champion the health and wellbeing
of every community in America. Operating more than 9,000 retail locations across America, Puerto Rico and the U.S. Virgin
Islands, Walgreens is proud to be a neighborhood health destination serving approximately 8 million customers each day.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
11,180 SF
Building Class
C
Year Built/Renovated
2000/2018
Price
$1,640,106
Price Per SF
$147
Cap Rate
10%
NOI
$164,011
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Lot Size
1.18 AC
Parking
10 Spaces (0.89 Spaces per 1,000 SF Leased)
Frontage
161 FT on Main St
AMENITIES
- Pylon Sign
- Drive Thru
NEARBY MAJOR RETAILERS
PROPERTY TAXES
Parcel Number | 09-18-04660000 | Improvements Assessment | $278,820 |
Land Assessment | $51,000 | Total Assessment | $329,820 |