Walgreens Absolute NNN Lease | 3415 Clark Ave
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Walgreens Absolute NNN Lease 3415 Clark Ave
14,820 SF Retail Building Cleveland, OH 44109 $5,151,515 ($348/SF) 8.25% Cap Rate
Investment Highlights
- Absolute NNN Lease
- Corporate Guarantee - NASDAQ:WBA
- Dense Demographics - 128,997 Residents Within a 3-Mile Radius
- Zero Landlord Obligations
- Hard Corner Location with Excellent Ingress & Egress Points
Executive Summary
The Kase Group is pleased to present the opportunity to purchase a well
established Walgreens location in Cleveland, Ohio. The lease calls for zero
landlord obligations and corporately guaranteed by Walgreens. Beyond the
initial term, tenant has fifty (50) years of options with 12 month cancellation
rights. This Walgreens is well positioned at the signalized intersection of
Clark Ave and Fulton Rd with exposure to 9,307 vehicles per day and has
excellent ingress & egress points. The site benefits from dense
demographics in the area and nearby to the 490/90 interchange with direct
access into Downtown Cleveland. Neighboring retailers include Dollar
General, Little Caesers Pizza, Burger King, McDonald's, KFC, Family Dollar,
Rally's & many more.
In Association with ParaSell, Inc. | A Licensed
Ohio Broker #REC.2020005946
established Walgreens location in Cleveland, Ohio. The lease calls for zero
landlord obligations and corporately guaranteed by Walgreens. Beyond the
initial term, tenant has fifty (50) years of options with 12 month cancellation
rights. This Walgreens is well positioned at the signalized intersection of
Clark Ave and Fulton Rd with exposure to 9,307 vehicles per day and has
excellent ingress & egress points. The site benefits from dense
demographics in the area and nearby to the 490/90 interchange with direct
access into Downtown Cleveland. Neighboring retailers include Dollar
General, Little Caesers Pizza, Burger King, McDonald's, KFC, Family Dollar,
Rally's & many more.
In Association with ParaSell, Inc. | A Licensed
Ohio Broker #REC.2020005946
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,820 SF
Building Class
B
Year Built
2009
Price
$5,151,515
Price Per SF
$348
Cap Rate
8.25%
NOI
$425,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.23
Lot Size
1.45 AC
Zoning
GR
Parking
45 Spaces (3.05 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Signalized Intersection
- Drive Thru
Walk Score ®
Very Walkable (87)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 007-32-007 | Improvements Assessment | $438,130 |
| Land Assessment | $243,180 | Total Assessment | $681,310 |
PROPERTY TAXES
Parcel Number
007-32-007
Land Assessment
$243,180
Improvements Assessment
$438,130
Total Assessment
$681,310
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Walgreens Absolute NNN Lease | 3415 Clark Ave
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