Walgreens 6266 Gender Rd

14,498 SF Retail Building Canal Winchester, OH 43110 $4,372,414 ($302/SF) 7.25% Cap Rate

INVESTMENT HIGHLIGHTS

  • Positioned within the Columbus MSA
  • NNN – no landlord responsibilities
  • Proximity to US 33 (67,992 VPD)
  • Newly executed lease extension through October 2036 (signed Oct 2024)
  • Established operating history since 2004
  • Average household income within one mile is $106,818

EXECUTIVE SUMMARY

The Boulder Group and Bang Realty are pleased to exclusively market for sale a single tenant net leased Walgreens property positioned within the Columbus MSA in Canal Winchester, Ohio. Walgreens has been operating at this location since 2004 and in October 2024 executed a lease extension through October 2036, demonstrating commitment to the site. The lease features nine 5-year renewal options and is triple net with no landlord responsibilities. Additionally, there is a significant 15% rental escalation in the first renewal option. Walgreens is the second largest pharmacy store chain in the United States with a Fortune 500 ranking of 27 for total revenue.
The 14,498 square-foot property benefits from its hard corner and Walmart out parcel location along Gender Road (38,709 VPD) which has immediate access to US Highway 33 (67,992 VPD). This stretch of Gender Road is populated by a large number of nationally recognized retailers that range from big box to QSR. Names of which include The Home Depot, Walmart Supercenter, Kroger, ALDI, McDonald’s, Chase Bank, Bank of America, Chipotle, Goodwill, AutoZone, NTB, Starbucks, and several others. Additionally, there are 106,130 people living within a five-mile radius. The population within one-mile surpasses a six-figure average household income at $106,818. Furthermore, the daytime population receives a boost from local industrial tenants DHL, Walgreens (Distribution Center), Waste Management, KENCO, TSTech & HFI.
Walgreens is included in the Retail Pharmacy USA Division of Walgreens Boots Alliance, Inc., 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 8,600 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 pharmacists play a critical role in the U.S. healthcare system by providing a wide range of pharmacy and healthcare services.

PROPERTY FACTS

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,498 SF
Building Class
B
Year Built
2004
Price
$4,372,414
Price Per SF
$302
Cap Rate
7.25%
NOI
$317,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.17
Lot Size
1.96 AC
Zoning
Commercial
Parking
60 Spaces (4.14 Spaces per 1,000 SF Leased)
Frontage
133 FT on Gender Rd

AMENITIES

  • Signalized Intersection

MAJOR TENANTS

  • TENANT
  • INDUSTRY
  • SF OCCUPIED
  • RENT/SF
  • LEASE END
  • Retailer
  • -
  • -
  • Oct 2036

Walgreens is a trusted and convenient local health destination that millions of Americans rely on every day. Their founder, Charles R. Walgreen Sr., was known for finding new ways to connect with customers on a personal level and treating each person like a guest in his own home. For over a century, they have expanded that personal connection through their network of neighborhood pharmacies and their innovative health services and products. The foundation for all of this is their trusted pharmacy expertise, and their team members who provide essential care that helps people achieve better health outcomes at an affordable cost.

TENANT INDUSTRY SF OCCUPIED RENT/SF LEASE END
Retailer - - Oct 2036

NEARBY MAJOR RETAILERS

Chase Bank
Planet Fitness
Skyline Chili
Tim Hortons
Bank of America
O'Charley's
Duchess Shoppe
Starbucks
Fifth Third Bank
ALDI

PROPERTY TAXES

  • Listing ID: 32377773

  • Date on Market: 7/8/2024

  • Last Updated:

  • Address: 6266 Gender Rd, Canal Winchester, OH 43110