Freestanding Walgreens Pharmacy with
For Sale
Contact for pricing
32798 Walker Road, Avon Lake, OH 44012
Absolute NNN Walgreens property with drive-thru and long-term corporate-backed lease through March 31, 2067.
Property Size14,990 SF
Price / SF$173.45
Days on Market115
Property Features for 32798 Walker Road
General Information
Standard status
Active
Size
14,990 SF
Class
A
Property subtype
Retail
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$224,595
Financials
Asking Price
$2,600,000
Cap Rate
8.63%
Building Details
Buildings
1
Tenancy
Single
Listing Agency:
Goodman Real Estate Services Group LLC
Listed By:
Shaun Brady · License #OH SAL.2010003126
(440) 567-8768
Source:
Crexi
Added: Jul 2
Changed: Oct 1
Last Checked: Oct 24 at 4:10PM
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 Goodman Real Estate Services Group LLC
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Investment Insights
Based on property information with market context.
This freestanding Walgreens pharmacy includes a drive-thru and is offered under an absolute NNN structure, with the tenant responsible for taxes, insurance, and maintenance. The property is described as a long-term, successful pharmacy operation with a remaining lease term through March 31, 2067, backed by a corporate guarantee by Walgreens (Sycamore Partners). Reported financial performance includes $224,595 in annual NOI and an 8.63% cap rate based on the stated list price.
The offering highlights a corner location at the high-visibility northwest corner of Route 83 and Walker Road, supported by the trade area’s stated demographic strength, including $115,567 median household income and active new home construction.
The offering highlights a corner location at the high-visibility northwest corner of Route 83 and Walker Road, supported by the trade area’s stated demographic strength, including $115,567 median household income and active new home construction.
Key Highlights
- Corporate‑backed Walgreens pharmacy with drive‑thru in a 14,990 SF building
- Absolute NNN lease: tenant pays all taxes, insurance, and maintenance
- Long‑term term remaining through March 31, 2067; corporate guarantee by Walgreens (Sycamore Partners)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$161,555
Cap Rate
6.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,231,100
$3.2M
Cap Rate 7%
$2,307,929
$2.3M
Cap Rate 9%
$1,795,056
$1.8M
Market Conditions
NOI Build-Up for 14,990 SF
Gross rent
$224.9K $15.00/SF
− Vacancy
−$9.4K −$0.63/SF
EGI
$215.4K $14.37/SF
− OpEx
−$53.9K −$3.59/SF
NOI
$161.6K $10.78/SF
Area
Lorain County, OH
Vacancy
4.20%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,231,100
Cap Rate 7%
$2,307,929
Cap Rate 9%
$1,795,056
Alternative Uses
Best Use
Specialty Retail
$2.31M
$2.02M – $2.69M
NOI $161,555 @ 7.0% cap · market cap 6.21%
Second Best
Retail
$2.15M
$1.88M – $2.51M
NOI $150,784 @ 7.0% cap · market cap 5.80%
Theoretical Best
Office A
$3.78M
$3.31M – $4.41M
NOI $264,424 @ 7.0% cap · market cap 10.17%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
302
Businesses Nearby
89k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 55%
Shops & Services 41%
Beauty & Spa 4%
Home Improvements & Furnishings 1%
McDonald's
Dining
18,768 visits/mo
0.0 miles
Speedway
Shops & Services
12,191 visits/mo
0.1 miles
Taco Bell
Dining
11,032 visits/mo
0.1 miles
Buffalo Wild Wings
Dining
9,795 visits/mo
0.1 miles
Huntington Bank
Shops & Services
6,360 visits/mo
0.1 miles
Demographics for 44012, OH
25,206
Population
10,884
Households
2.3
Avg Household Size
45
Median Age
54%
College-Educated
98%
High-School Grad
11.1 sq mi
ZIP Area
2,271
Density / Sq Mi
$110,174
Median Household Income
$63,289
Median Earnings
$1,500
Median Rent
$337,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Jeremy S. Klepper, PharmD — 32798 Walker Rd, Avon Lake, OH 44012
- Tina Hicov, RPh — 32798 Walker Rd, Avon Lake, OH 44012
- Walgreens Pharmacy — 32798 Walker Rd, Avon Lake, OH 44012
- COVID-19 Drive-Thru Testing at Walgreens — 32798 Walker Rd, Avon Lake, OH 44012
- Tara Kunzelman — 32798 Walker Rd, Avon Lake, OH 440121443
Frequently Asked Questions
What type of property is this?
Drug store - Absolute NNN Walgreens property with drive-thru and long-term corporate-backed lease through March 31, 2067.
Where is this drug store located?
The property is located at 32798 Walker Road Avon Lake, OH.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Corporate‑backed Walgreens pharmacy with drive‑thru in a 14,990 SF building; Absolute NNN lease: tenant pays all taxes, insurance, and maintenance; Long‑term term remaining through March 31, 2067; corporate guarantee by Walgreens (Sycamore Partners)
