Walgreens | 320 S Scatterfield Rd
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Walgreens 320 S Scatterfield Rd
14,418 SF Retail Building Anderson, IN 46012 $7,182,250 CAD ($498 CAD/SF) 6% Cap Rate
Investment Highlights
- Leased to Walgreens on an absolute net lease; zero landlord responsibilities
- Highly visible site featuring pylon signage, surface parking lot, and drive-thru lane
- Surrounded by national tenants including Dollar General, Advance Auto Parts, Dunham’s Sports, Marco’s Pizza, Taco Bell, Wendy’s, McDonald’s, and more
- Corporate guarantee; Investment grade tenant (S&P: BBB)
- Placed in high traffic corridor of Anderson at a signalized intersection along Scatterfield Rd. which sees approximately 24,886 VPD
Executive Summary
Quantum Real Estate Advisors, Inc. (“QREA”) has been retained to exclusively offer for sale a 14,418 square foot single-tenant retail building located at 320 S Scatterfield Rd., Anderson, IN. The free-standing building is leased to Walgreens (S&P: BBB) and is on an absolute net lease, which expires in July of 2029 and features (10) 5-year options. The building was originally constructed in 2004 and sits on approximately 1.38 acres of land. The property features pylon signage, a drive-thru lane, and a surface parking lot with over 30 parking spaces.
The site benefits from excellent visibility being located directly on the major north/south retail thoroughfare of Scatterfield Rd., which sees over 24,886 VPD. The asset is located in a middle-class area, with over 70,670 residents and an average household income of $63,300 within 5 miles of the site. Additionally, the property is located less than half a mile from Anderson University, a private 4-year university with an enrollment of over 1,900 students and faculty. Notable surrounding national tenants include: Dollar General, Advance Auto Parts, Dunham’s Sports, Marco’s Pizza, Taco Bell, Wendy’s, McDonald’s, and more.
The site benefits from excellent visibility being located directly on the major north/south retail thoroughfare of Scatterfield Rd., which sees over 24,886 VPD. The asset is located in a middle-class area, with over 70,670 residents and an average household income of $63,300 within 5 miles of the site. Additionally, the property is located less than half a mile from Anderson University, a private 4-year university with an enrollment of over 1,900 students and faculty. Notable surrounding national tenants include: Dollar General, Advance Auto Parts, Dunham’s Sports, Marco’s Pizza, Taco Bell, Wendy’s, McDonald’s, and more.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,418 SF
Building Class
B
Year Built
2004
Price
$7,182,250 CAD
Price Per SF
$498 CAD
Cap Rate
6%
NOI
$430,666 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.24
Lot Size
1.38 AC
Zoning
Commercial
Parking
55 Spaces (4.92 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Corner Lot
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 48-12-08-302-150.000-003 | Improvements Assessment | $1,320,672 CAD |
| Land Assessment | $413,698 CAD | Total Assessment | $1,734,370 CAD |
PROPERTY TAXES
Parcel Number
48-12-08-302-150.000-003
Land Assessment
$413,698 CAD
Improvements Assessment
$1,320,672 CAD
Total Assessment
$1,734,370 CAD
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Walgreens | 320 S Scatterfield Rd
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