Lima, OH Walgreens Investment
2366 Harding Hwy Lima, OH
2366 Harding Hwy, Lima, OH, 00000
Contact for pricing
For Sale
Contact for pricing
Investment-grade Walgreens with drive-thru and zero landlord responsibilities.
Property Size14,406 SF
Lot Size4.33 Acres
Price / SF$277.66
Days on Market719
Property Features for 2366 Harding Hwy
General Information
- Standard status
- Active
- Size
- 14,406 SF
- Lot size
- 4.33 Acres
- Property subtype
- RETAIL
Listing Agency
SRS Real Estate Partners | Chicago
(312) 437-8598
Listed by
Sean Lutz · License #475132482
(312) 437-8598
Source
Moodyscre
Added: Aug 1, 2024 Checked: Jul 19 at 5:28 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SRS Real Estate Partners | Chicago
Investment Insights
Based on property information with market context.
This is an opportunity to acquire a fee simple interest in an absolute NNN Walgreens investment property with a drive-thru, located in Lima, OH. The tenant, Walgreen Co., has 5 years of lease term remaining, with 10 (5-year) option periods left to extend. The lease is signed by the corporate entity and is absolute NNN with zero landlord responsibilities. Founded in 1901, Walgreens is among America’s largest pharmacies and health & beauty companies with nearly 9,000 stores in operation. The property is 14406 square feet.
Key Highlights
- Investment grade credit rating (S&P: BBB-) providing financial stability.
- Absolute NNN lease structure with zero landlord responsibilities, ideal for passive income.
- Corporate lease signed by Walgreen Co., a major national pharmacy chain.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $273.1k | $18.96 |
| − Vacancy | −$12.3k | −$0.85 |
| EGI | $260.8k | $18.11 |
| − OpEx | −$65.2k | −$4.53 |
| NOI | $195.6k | $13.58 |
14,406 SF · lease $18.96/SF/yr · vacancy 4.50% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.79M
$2.45M – $3.26M
NOI $195,635 @ 7.0% cap · market cap 4.89%
Second Best
Retail
$816.7K
$714.7K – $952.9K
NOI $57,172 @ 7.0% cap · market cap 1.43%
Theoretical Best
Office A
$3.47M
$3.04M – $4.05M
NOI $242,892 @ 7.0% cap · market cap 6.07%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Walgreens Pharmacy
Pharmacy
Brooke Roeder, RPH
Pharmacy
Walgreens Photo
(Bike/Boat/Book/etc) Store
Cardtronics ATM
Atm
COVID-19 Drive-Thru Testing ...
Pharmacy
Similar For Sale Nearby
Similar Off Market Nearby
- Sam's Club Pharmacy — 1150 Greely Chapel Rd, Lima, OH 45804
- Lisa A. Schaaf, RPh — 2100 Harding Hwy, Lima, OH 45804
- Laura L. Danosky, RPH — 2100 Harding Hwy, Lima, OH 45804
- Nancy Schultz — 1150 Greely Chapel Rd, Lima, OH 458044162
- Walgreens Pharmacy — 2366 Harding Hwy, Lima, OH 45804
FAQs
What type of property is this?
Drug store - Investment-grade Walgreens with drive-thru and zero landlord responsibilities.
Where is this drug store located?
The property is located at 2366 Harding Hwy Lima, OH.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: Investment grade credit rating (S&P: BBB-) providing financial stability.; Absolute NNN lease structure with zero landlord responsibilities, ideal for passive income.; Corporate lease signed by Walgreen Co., a major national pharmacy chain.
