Walgreens NNN Lease For
1800 Airport Rd, Hot Springs, AR 71913
For Sale
Contact for pricing
Walgreens NNN lease extended through 2038 for sale.
Property Size14,422 SF
Lot Size2.73 Acres
Price / SF$211.80
Days on Market265
Property Features for 1800 Airport Rd
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Occupancy
Lease Type
Investment Type
Net Operating Income
Building Details
Year Built
Tenancy
Listing Agency:
CBRE - Atlanta
Listed By:
Brian Pfohl · License GA #349355
(404) 504-7893
Source:
Crexi
Added: Feb 19
Changed: Nov 10
Last Checked: Nov 10 at 7:55AM
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 CBRE - Atlanta
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The property features a 14,422-square-foot Walgreens situated on 2.73 acres in Hot Springs, AR, which is part of an MSA with a population exceeding 100,000. The absolute NNN lease with Walgreens, originally set to expire in 2034, has been extended through 2038. The lease now has approximately 12.4 years of primary term remaining, along with eleven 5-year options to renew.
Key Highlights
- Absolute NNN lease extended through 2038, providing a long‑term, passive income stream.
- Enjoy stability with ±12.4 years of primary lease term remaining.
- Located in Hot Springs, AR, within a Metropolitan Statistical Area (MSA) with a population exceeding 100,000.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$152,513
Cap Rate
4.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,050,260
$3.1M
Cap Rate 7%
$2,178,757
$2.2M
Cap Rate 9%
$1,694,589
$1.7M
Market Conditions
NOI Build-Up for 14,422 SF
Gross rent
$216.3K $15.00/SF
− Vacancy
−$13.0K −$0.90/SF
EGI
$203.4K $14.10/SF
− OpEx
−$50.8K −$3.53/SF
NOI
$152.5K $10.58/SF
Area
Garland County, AR
Vacancy
6.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,050,260
Cap Rate 7%
$2,178,757
Cap Rate 9%
$1,694,589
Alternative Uses
Best Use
Specialty Retail
$2.18M
$1.91M – $2.54M
NOI $152,513 @ 7.0% cap · market cap 4.99%
Second Best
Retail
$1.63M
$1.42M – $1.90M
NOI $113,876 @ 7.0% cap · market cap 3.73%
Theoretical Best
Office A
$2.64M
$2.31M – $3.08M
NOI $184,625 @ 7.0% cap · market cap 6.04%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
318
Businesses Nearby
60k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 56%
Shops & Services 39%
Home Improvements & Furnishings 5%
McDonald's
Dining
21,823 visits/mo
0.4 miles
Taco Bell
Dining
11,804 visits/mo
0.4 miles
Dollar Tree
Shops & Services
9,118 visits/mo
0.3 miles
Arvest Bank
Shops & Services
6,834 visits/mo
0.4 miles
AutoZone
Shops & Services
4,195 visits/mo
0.3 miles
Demographics for 71913, AR
46,801
Population
25,441
Households
1.8
Avg Household Size
44
Median Age
28%
College-Educated
91%
High-School Grad
134.2 sq mi
ZIP Area
349
Density / Sq Mi
$55,367
Median Household Income
$32,746
Median Earnings
$970
Median Rent
$179,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in South region
Similar Off Market Nearby
- Tyler J. Kight DC — 1880 Airport Rd, Hot Springs National Park, AR 71913
- Kenneth R. Wedsted, PharmD — 1800 Airport Rd, Hot Springs, AR 71913, United States
- Ronald Chapmond — 1800 Airport Rd, Hot Springs, AR 719135396
- Walgreens Pharmacy — 1800 Airport Rd, Hot Springs, AR 71913
- COVID-19 Drive-Thru Testing at Walgreens — 1800 Airport Rd, Hot Springs, AR 71913
Frequently Asked Questions
What type of property is this?
Drug store - Walgreens NNN lease extended through 2038 for sale.
Where is this drug store located?
The property is located at 1800 Airport Rd Hot Springs, AR.
What is the asking price?
The asking price for this property is $3,054,570.
What are key features of this property?
This property features: Absolute NNN lease extended through 2038, providing a long‑term, passive income stream.; Enjoy stability with ±12.4 years of primary lease term remaining.; Located in Hot Springs, AR, within a Metropolitan Statistical Area (MSA) with a population exceeding 100,000.
