Freestanding Walgreens Investment
For Sale
Contact for pricing
1207 S Heaton St, Knox, IN 46534
Corporate guaranteed Walgreens with 6 years remaining on the lease.
Property Size14,259 SF
Price / SF$202.61
Days on Market711
Property Features for 1207 S Heaton St
General Information
Standard status
Active
Size
14,259 SF
Total Parking Spaces
62
Property subtype
Retail
Zoning
C-2: General Commercial
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$274,500
Building Details
Year Built
2005
Tenancy
Single
Listing Agency:
SRS Real Estate Partners Newport Beach
(480) 221-4221
Listed By:
Winston Guest, CCIM · License #CA 02046877
Source:
Crexi
Added: Sep 11, 2024
Changed: Aug 11
Last Checked: Aug 20 at 9:37PM
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 Newport Beach
Investment Insights
Based on property information with market context.
This freestanding Walgreens investment property is located in Knox, Indiana. The tenant, Walgreen Co., has approximately 6 years remaining on its lease with 10 (5-year) options to extend. The lease is NNN with limited landlord responsibilities to roof, structure, and exterior utilities. Walgreens operates nearly 9,000 retail locations across the U.S. and Puerto Rico, serving nearly 9 million customers and patients daily. The parent company, Walgreens Boots Alliance (WBA), recently announced an agreement to be acquired by a Sycamore Partners-affiliated entity for up to $23.7 billion. The property is an outparcel to the Knox Mall, a grocery anchored shopping center with tenants such as Tractor Supply Co., Family Dollar, McDonald’s, Pizza Hut, Knox Super Wash, and Five Star Marketplace. The site is positioned along S. Heaton Street/U.S. Highway 35 (13,300 VPD). The property benefits from limited competition, as the only Walgreens location within a 15-mile radius. It is near Knox Community High School and the Northwest Health Starke Hospital. The 5-mile trade area is supported by a population of over 9,700 residents and 3,600 employees with an average household income of $73,363. The property size is 14,259 square feet.
Key Highlights
- Corporate guaranteed Walgreens with approximately 6 years remaining on the lease and 10 (5‑year) options to extend, providing stable, long‑term income potential.
- NNN lease structure offers a low‑management, passive investment opportunity.
- Strategic location as an outparcel to the Knox Mall, a grocery‑anchored shopping center, providing significant crossover exposure.**
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
341
Businesses Nearby
94k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 47%
Shops & Services 38%
Home Improvements & Furnishings 15%
McDonald's
Dining
20,718 visits/mo
0.2 miles
BP
Shops & Services
12,723 visits/mo
0.3 miles
Phillips 66
Shops & Services
10,340 visits/mo
0.2 miles
Burger King
Dining
8,644 visits/mo
0.3 miles
Tractor Supply Co.
Home Improvements & Furnishings
8,236 visits/mo
0.2 miles
Demographics for 46534, IN
11,247
Population
5,614
Households
2
Avg Household Size
43
Median Age
12%
College-Educated
84%
High-School Grad
119.9 sq mi
ZIP Area
94
Density / Sq Mi
$60,248
Median Household Income
$32,470
Median Earnings
$634
Median Rent
$159,600
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
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Similar Off Market Nearby
- Walgreens Pharmacy — 1207 S Heaton St, Knox, IN 46534
- CVS — 907 S Heaton St, Knox, IN 46534
- Mitchell A. Herzog, RPH — 1207 S Heaton St, Knox, IN 46534
- COVID-19 Drive-Thru Testing at Walgreens — 1207 S Heaton St, Knox, IN 46534
- Joseph Lark — 1207 S Heaton St, Knox, IN 465342311
Frequently Asked Questions
What type of property is this?
Drug store - Corporate guaranteed Walgreens with 6 years remaining on the lease.
Where is this drug store located?
The property is located at 1207 S Heaton St Knox, IN.
What is the asking price?
The asking price for this property is $2,889,000.
What are key features of this property?
This property features: Corporate guaranteed Walgreens with approximately 6 years remaining on the lease and 10 (5‑year) options to extend, providing stable, long‑term income potential.; NNN lease structure offers a low‑management, passive investment opportunity.; Strategic location as an outparcel to the Knox Mall, a grocery‑anchored shopping center, providing significant crossover exposure.**
