Single-Tenant Drug
For Sale
Contact for pricing
1209 Main St, Richmond, RI 02831
Former Walgreens location with cash flow guaranteed and assumption-friendly loan terms immediately off Interstate 95.
Property SizeContact for details
Days on Market122
Property Features for 1209 Main St
General Information
Standard status
Active
Property subtype
Retail
Additional Details
Business Included
Yes
Highway Access
Yes
Listing Agency:
Deerfield Partners
(888) 353-0441
Listed By:
John Giordani · License #CA 01323433
Source:
Crexi
Added: Apr 10
Changed: Aug 8
Last Checked: Jul 20 at 7:45PM
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 Deerfield Partners
Investment Insights
Based on property information with market context.
This for-sale single-tenant drug store investment includes a cash flow guarantee of $7,900,000, backed by Walgreens. The property is identified as having ceased operations at this location. Financing is structured so the loan can be assumed or purchased free and clear, with a non-recourse loan assumption requiring $2M down. The offering also states the loan is projected to produce $120,000 net income, described as a 6% return on cash.
The property is described as being in an affluent area, with Avg. Household Income of $84,482. It is also noted as being immediately off Interstate 95, and less than 30 miles to Providence, RI.
The property is described as being in an affluent area, with Avg. Household Income of $84,482. It is also noted as being immediately off Interstate 95, and less than 30 miles to Providence, RI.
Key Highlights
- $7,900,000 cash flow guaranteed by Walgreens (per remarks)
- Former Walgreens location—Walgreens ceased operations at this location
- Loan can be assumed or bought free & clear (per remarks)
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
187
Businesses Nearby
134k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 42%
Dining 38%
Groceries 18%
Home Improvements & Furnishings 2%
Stop & Shop
Groceries
24,315 visits/mo
0.5 miles
McDonald's
Dining
22,312 visits/mo
0.4 miles
Cumberland Farms
Shops & Services
20,457 visits/mo
0.2 miles
Mobil
Shops & Services
14,532 visits/mo
0.1 miles
Dunkin' Donuts
Dining
14,013 visits/mo
0.5 miles
Demographics for 02831, RI
3,860
Population
1,360
Households
2.8
Avg Household Size
44
Median Age
32%
College-Educated
98%
High-School Grad
10.8 sq mi
ZIP Area
357
Density / Sq Mi
$135,106
Median Household Income
$66,411
Median Earnings
$1,723
Median Rent
$468,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Similar Off Market Nearby
- Walgreens Pharmacy — 21 Kingstown Rd, Richmond, RI 02898
- COVID-19 Drive-Thru Testing at Walgreens — 21 Kingstown Rd, Richmond, RI 02898
- Bernadette Frenzilli — 1209 Main St, Richmond, RI 02898
- Kassia O'brien — 21 Kingstown Rd, Wyoming, RI 028981101
- Kelly Marsella — 21 Kingstown Rd, Richmond, RI 028981101
Frequently Asked Questions
What type of property is this?
Drug store - Former Walgreens location with cash flow guaranteed and assumption-friendly loan terms immediately off Interstate 95.
Where is this drug store located?
The property is located at 1209 Main St Richmond, RI.
What are key features of this property?
This property features: $7,900,000 cash flow guaranteed by Walgreens (per remarks); Former Walgreens location—Walgreens ceased operations at this location; Loan can be assumed or bought free & clear (per remarks)
