Walgreens - 13 Yr Primary Term | 520 Broadway Ave
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Walgreens - 13 Yr Primary Term 520 Broadway Ave
14,500 SF Retail Building Bedford, OH 44146 $6,208,686 CAD ($428 CAD/SF) 5.70% Cap Rate
Investment Highlights
- Rare 5% Rental Increases Every 5 Years Including Options
- New 13 Year Primary Term with Options to Extend into 2095
- Ideal for 1031 Exchange or Investment with Predictable Long-term Cash Flows
- Absolute NNN STNL Walgreens (Fee Simple) – Investment Grade Credit Tenant Rated “BBB” by S&P
- Absolute NNN Leased Asset – Zero Landlord Responsibilities
Executive Summary
The Snyder Carlton National Net Lease Team is pleased to offer to qualified investors an opportunity to purchase a single tenant absolute NNN leased investment (fee simple). The property is fully occupied by Walgreens with a new 13 Year lease term with 5% rental increases every 5 years including option periods. The store has a strong store sales performance history which is evidenced by their recent new long-term lease commitment. The property is located in Bedford Ohio, a Cleveland Suburb, and situated in close proximity to University Hospital and Bedford Highschool. The property is well positioned on the hard corner signalized intersection of Broadway Avenue and Grace Street in a densely populated Cuyahoga County (1.25 Million Population). This is an excellent opportunity to own a rare Walgreens with 5% Rental Increases every 5 years and a long term absolute NNN lease.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,500 SF
Building Class
C
Year Built
2006
Price
$6,208,686 CAD
Price Per SF
$428 CAD
Cap Rate
5.70%
NOI
$353,895 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.21
Land Acres
1.57 AC
Zoning
B-2A - Automotive Business District
PROPERTY TAXES
Parcel Number | 812-05-021 | Improvements Assessment | $435,708 CAD |
Land Assessment | $591,430 CAD | Total Assessment | $1,027,138 CAD |
PROPERTY TAXES
Parcel Number
812-05-021
Land Assessment
$591,430 CAD
Improvements Assessment
$435,708 CAD
Total Assessment
$1,027,138 CAD
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Walgreens - 13 Yr Primary Term | 520 Broadway Ave
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