Walgreens Absolute NNN
For Sale
$2,818,740
2500 Grant Street, Gary, IN 46404
Walgreens property with tenant-funded taxes, insurance, maintenance, and structural repairs.
Property Size14,820 SF
Price / SF$190.20
Days on Market135
Property Features for 2500 Grant Street
General Information
Standard status
Active
Size
14,820 SF
Property subtype
Retail
Building Details
Tenancy
Single
Listing Agency:
CBRE - El Segundo
Listed By:
Tony Anderson · License #01936642
(310) 303-9870
Source:
Cbre
Added: Jun 2
Changed: Sep 30
Last Checked: Oct 12 at 4:55PM
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 - El Segundo
Investment Insights
Based on property information with market context.
This 14,820-square-foot Walgreens property is subject to an absolute NNN lease with more than 6.5 years remaining. The lease places responsibility for property taxes, insurance, ongoing maintenance, repairs, the roof, and structural components with the tenant, leaving no landlord management responsibilities described in the listing.
Key Highlights
- 14,820‑square‑foot Walgreens property
- Absolute NNN lease structure
- More than 6.5 years remaining on the lease
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$142,813
Cap Rate
5.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,856,260
$2.9M
Cap Rate 7%
$2,040,186
$2.0M
Cap Rate 9%
$1,586,811
$1.6M
Market Conditions
NOI Build-Up for 14,820 SF
Gross rent
$213.4K $14.40/SF
− Vacancy
−$9.4K −$0.63/SF
EGI
$204.0K $13.77/SF
− OpEx
−$61.2K −$4.13/SF
NOI
$142.8K $9.64/SF
Area
Lake County, IN
Vacancy
4.40%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,856,260
Cap Rate 7%
$2,040,186
Cap Rate 9%
$1,586,811
Alternative Uses
Best Use
Retail
$2.04M
$1.79M – $2.38M
NOI $142,813 @ 7.0% cap · market cap 5.07%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$4.14M
$3.62M – $4.83M
NOI $289,601 @ 7.0% cap · market cap 10.27%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
236
Businesses Nearby
32k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 89%
Dining 11%
Dollar Tree
Shops & Services
11,786 visits/mo
0.4 miles
Dollar General
Shops & Services
6,802 visits/mo
0.1 miles
Family Dollar
Shops & Services
6,206 visits/mo
0.1 miles
Little Caesars Pizza
Dining
3,575 visits/mo
0.1 miles
Advance Auto Parts
Shops & Services
3,315 visits/mo
0.4 miles
Demographics for 46404, IN
15,658
Population
7,708
Households
2
Avg Household Size
39
Median Age
16%
College-Educated
89%
High-School Grad
6.0 sq mi
ZIP Area
2,610
Density / Sq Mi
$39,188
Median Household Income
$34,337
Median Earnings
$995
Median Rent
$88,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
NNN property - Walgreens property with tenant-funded taxes, insurance, maintenance, and structural repairs.
Where is this nnn property located?
The property is located at 2500 Grant Street Gary, IN.
What is the asking price?
The asking price for this property is $2,818,740.
What are key features of this property?
This property features: 14,820‑square‑foot Walgreens property; Absolute NNN lease structure; More than 6.5 years remaining on the lease
