Leased Walgreens Retail
6617 Dixie Highway Florence, KY 41042
6617 Dixie Highway, Florence, KY, 41042
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For Sale
Contact for pricing
Absolute triple-net Walgreens with no landlord responsibilities, benefiting from strong regional connectivity near major healthcare and retail.
Property Size10,504 SF
Price / SF$290.37
Days on Market57
Property Features for 6617 Dixie Highway
General Information
- Standard status
- Active
- Size
- 10,504 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2005
Listing agency
Pharma Property Group
Listed by
Jason Pongsrikul · License #CA 01918332
Source
Crexi
Added: May 27 Updated: Jul 10 at 1:52PM Checked: Jul 21 at 12:11PM
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 Pharma Property Group
Investment Insights
Based on property information with market context.
This for-sale Walgreens property is leased on an absolute triple net basis, with no landlord responsibilities. The offering is structured for an owner looking for a stabilized retail asset supported by an existing pharmacy tenant.
The property is located near Interstate 71/75, providing regional connectivity to downtown Cincinnati, Louisville, and Lexington. Cincinnati/Northern Kentucky International Airport is approximately 2 miles away, and St. Elizabeth Florence Hospital is about 1.2 miles from the site. The surrounding area also includes a major retail corridor roughly 1.5 miles away along Mall Road and Houston Road.
For buyers and long-term investors, the absolute triple net structure shifts property-related responsibilities away from the landlord and concentrates the focus on the lease. The nearby hospital campus and established retail destination anchored by national tenants can support consistent daytime demand from local residents and visitors.
The property is located near Interstate 71/75, providing regional connectivity to downtown Cincinnati, Louisville, and Lexington. Cincinnati/Northern Kentucky International Airport is approximately 2 miles away, and St. Elizabeth Florence Hospital is about 1.2 miles from the site. The surrounding area also includes a major retail corridor roughly 1.5 miles away along Mall Road and Houston Road.
For buyers and long-term investors, the absolute triple net structure shifts property-related responsibilities away from the landlord and concentrates the focus on the lease. The nearby hospital campus and established retail destination anchored by national tenants can support consistent daytime demand from local residents and visitors.
Key Highlights
- Walgreens at 6617 Dixie Highway in Florence, KY (41042), built in 2005
- Leased on an absolute triple‑net basis with no landlord responsibilities
- Approximately 2 miles to Cincinnati/Northern Kentucky International Airport
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $189.1k | $18.00 |
| − Vacancy | −$7.9k | −$0.76 |
| EGI | $181.1k | $17.24 |
| − OpEx | −$54.3k | −$5.17 |
| NOI | $126.8k | $12.07 |
10,504 SF · lease $18.00/SF/yr · vacancy 4.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.81M
$1.58M – $2.11M
NOI $126,792 @ 7.0% cap · market cap 4.16%
Second Best
Specialty Retail
$1.79M
$1.56M – $2.08M
NOI $124,981 @ 7.0% cap · market cap 4.10%
Theoretical Best
Office A
$2.90M
$2.53M – $3.38M
NOI $202,685 @ 7.0% cap · market cap 6.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Walgreens Photo
(Bike/Boat/Book/etc) Store
COVID-19 Drive-Thru Testing ...
Pharmacy
Cardtronics ATM
Atm
Walgreens Pharmacy
Pharmacy
Kroger Pickup at Walgreens
Grocery & Convenience Store
Similar For Sale Nearby
Similar Off Market Nearby
- Ruwe Family Pharmacy — 7220 Burlington Pike, Florence, KY 41042
- Melinda Litmer, RPH — 7220 Burlington Pike, Florence, KY 41042, United States
- Herbalife Healthy Hangout — 7220 Burlington Pike, Florence, KY 41042
- Elizabeth Prather — 7220 Burlington Pike STE I, Florence, KY 410421586
- COVID-19 Drive-Thru Testing at Walgreens — 6617 Dixie Hwy, Florence, KY 41042
FAQs
What type of property is this?
Drug store - Absolute triple-net Walgreens with no landlord responsibilities, benefiting from strong regional connectivity near major healthcare and retail.
Where is this drug store located?
The property is located at 6617 Dixie Highway Florence, KY.
What is the asking price?
The asking price for this property is $3,050,000.
What are key features of this property?
This property features: Walgreens at 6617 Dixie Highway in Florence, KY (41042), built in 2005; Leased on an absolute triple‑net basis with no landlord responsibilities; Approximately 2 miles to Cincinnati/Northern Kentucky International Airport
