Walgreens 411 W Stockton St

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, newly built, drive-thru equipped Walgreens investment property located in Edmonton, KY. The tenant, Walgreen Co., has 8.5+ years of firm term remaining with an additional 4 (5-year) option periods left to extend. The lease features rare 5% rental increases every 5 years throughout the initial term and options, growing NOI and hedging against inflation. The lease is signed by the corporate entity (S&P: BBB-) and is absolute NNN with zero landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. The offering presents the opportunity to purchase one of Walgreens’ brand new “Cooper” prototype pharmacies, a store that will have a health and wellness focus on the location’s front end.
Walgreens is strategically located near the signalized, hard corner intersection of Stockton Street and Main Street, averaging a combined 15,900 vehicles passing by daily. Both streets serve as major retail corridors in Edmonton, placing this asset in an excellent location. The surrounding tenants consist of Dollar General Market, ACE Hardware, Minnie’s Southern Café, South Central Bank, Western Union, and others. The national and regional tenant presence drives a steady stream of loyal, local consumers to the trade area and promotes significant crossover store exposure. Furthermore, the property is near numerous single-family communities and multi-family complexes including Stockton Apartments, Edmonton Manor, and others, providing a direct residential consumer base. The 5-mile trade area is supported by over 4,600 residents and 1,600 daytime employees, with an average annual household income of $50,152.