Walgreens Pharmacy NNN Lease
For Sale
Contact for pricing
5501 Mahoning Ave, Austintown, OH 44515
NNN leased Walgreens with approximately 6.5 years of primary term.
Property Size14,490 SF
Price / SF$252.10
Days on Market194
Property Features for 5501 Mahoning Ave
General Information
Standard status
Active
Size
14,490 SF
Property subtype
Retail
Occupancy
100%
Net Operating Income
$292,260
Listing Agency:
JLL - Dallas | Cedar Springs, Texas
Listed By:
Caroline Pinkston · License #601565
Source:
Crexi
Added: Jan 29
Changed: Aug 8
Last Checked: Aug 11 at 8:56AM
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 JLL - Dallas | Cedar Springs, Texas
Investment Insights
Based on property information with market context.
This offering presents the opportunity to acquire a Walgreens Pharmacy located at 5501 Mahoning Ave, Austintown, OH 44515. The tenant operates under an absolute NNN lease with approximately 6.5 years of primary term remaining, as well as five, five-year renewal options. This asset provides secure, long-term cash flow, backed by a leading national retailer. The property size is 14490 square feet.
Key Highlights
- Absolute NNN lease provides zero management responsibility.
- Tenant is Walgreens, a leading national retailer.
- Secure, long‑term cash flow opportunity.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$153,264
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.20%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,065,280
$3.1M
Cap Rate 7%
$2,189,486
$2.2M
Cap Rate 9%
$1,702,933
$1.7M
Market Conditions
NOI Build-Up for 14,490 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$217.4K $15.00/SF
− Vacancy
−$13.0K −$0.90/SF
EGI
$204.4K $14.10/SF
− OpEx
−$51.1K −$3.53/SF
NOI
$153.3K $10.58/SF
Area
Mahoning County, OH
Vacancy
5.98%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,065,280
Cap Rate 7%
$2,189,486
Cap Rate 9%
$1,702,933
Alternative Uses
Best Use
Specialty Retail
$2.19M
$1.92M – $2.55M
NOI $153,264 @ 7.0% cap · market cap 4.20%
Second Best
Retail
$652.1K
$570.6K – $760.7K
NOI $45,644 @ 7.0% cap · market cap 1.25%
Theoretical Best
Office A
$2.73M
$2.39M – $3.19M
NOI $191,407 @ 7.0% cap · market cap 5.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
483
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 44515, OH
27,480
Population
13,992
Households
2
Avg Household Size
44
Median Age
21%
College-Educated
94%
High-School Grad
18.5 sq mi
ZIP Area
1,485
Density / Sq Mi
$52,831
Median Household Income
$36,156
Median Earnings
$766
Median Rent
$142,200
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.
Similar Off Market Nearby
- GNC — 5880 Mahoning Ave #12, Austintown, OH 44515
- Emily E. Czeck, PharmD — 5501 Mahoning Ave, Austintown, OH 44515
- Blair W. O'Dell, PharmD — 5501 Mahoning Ave, Austintown, OH 44515
- Walmart Pharmacy — 6001 Mahoning Ave, Austintown, OH 44515
- John Direnzo — 6001 Mahoning Ave, Austintown, OH 445152227
Frequently Asked Questions
What type of property is this?
Drug store - NNN leased Walgreens with approximately 6.5 years of primary term.
Where is this drug store located?
The property is located at 5501 Mahoning Ave Austintown, OH.
What is the asking price?
The asking price for this property is $3,653,000.
What are key features of this property?
This property features: Absolute NNN lease provides zero management responsibility.; Tenant is Walgreens, a leading national retailer.; Secure, long‑term cash flow opportunity.
