NNN Walgreens - 16 Years Remain
For sale to qualified investors is an opportunity to own a fee-simple (land and building) NNN Walgreens located in Jasper, Indiana. The lease is absolute triple-net with no landlord obligations, and is corporately signed by Walgreen Co. This lease offers a rare and exceptional quality not often seen from Walgreens; beginning in January 2017, the lease has rental increases every five years during the initial term and options. Unlike the majority of Walgreens leases throughout the country, this lease will allow the investor to increase their yield throughout the entire lease term. Walgreens commenced rent in January of 2007, and has approximately 16 years of guaranteed lease term remaining prior to entering option periods. Additionally, according to the unit’s sale tax receipts as compiled by Salesgenie, total annual store volume exceeds $8 Million, making it the top drugstore in Jasper. The property is located on heavily-trafficked Newton Street in the retail center of Jasper, and is surrounded by other national retailers including Walmart, Home Depot, Sears, Staples, Pet Sense, Shoe Show, Save-a-lot, Fifth Third Bank, Verizon, McDonald’s, Applebee’s, Arby’s, Denny’s, Taco Bell, Wendy’s, and others.