Freestanding Walgreens Investment Property

1207 S Heaton St, Knox, IN 46534

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Corporate guaranteed Walgreens with 6 years remaining on the lease.

Type:Retail

Property size:

14,259 SF

Price / SF:

$202/SF

HighLights

Corporate guaranteed Walgreens with approximately 6 years remaining on the lease and 10 (5‑year) options to extend, providing stable, long‑term income potential.
NNN lease structure offers a low‑management, passive investment opportunity.
Strategic location as an outparcel to the Knox Mall, a grocery‑anchored shopping center, providing significant crossover exposure.
Located on S. Heaton Street/U.S. Highway 35 (13,300 VPD), a major north/south thoroughfare, ensuring high visibility and accessibility.
Limited competition as the only Walgreens location within a 15‑mile radius.
Strong demographics with a 5‑mile trade area supported by over 9,700 residents, 3,600 employees, and an average household income of $73,363.

We can help!

Contact an agent

Winston Guest, CCIM

For Sale

Contact for pricing

Corporate guaranteed Walgreens with 6 years remaining on the lease.

Type:Retail

Property size:

14,259 SF

Price / SF:

$202/SF

Added:: Sep 11, 2024
Days on Market:: 665
Last Refresh:: Jun 27 at 11:23 pm

Property Features for 1207 S Heaton St

General Information

Standard status: Active
Size: 14,259 SF
Property subtype: Retail

Building Details

Year Built: 2005

We can help!

Contact an agent

Winston Guest, CCIM

Listing office SRS Real Estate Partners Newport Beach

Listing date Sep 11, 2024

Source Crexi

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 SRS Real Estate Partners Newport Beach

HighLights

Corporate guaranteed Walgreens with approximately 6 years remaining on the lease and 10 (5‑year) options to extend, providing stable, long‑term income potential.
NNN lease structure offers a low‑management, passive investment opportunity.
Strategic location as an outparcel to the Knox Mall, a grocery‑anchored shopping center, providing significant crossover exposure.
Located on S. Heaton Street/U.S. Highway 35 (13,300 VPD), a major north/south thoroughfare, ensuring high visibility and accessibility.
Limited competition as the only Walgreens location within a 15‑mile radius.
Strong demographics with a 5‑mile trade area supported by over 9,700 residents, 3,600 employees, and an average household income of $73,363.

Overview

This freestanding Walgreens investment property is located in Knox, Indiana. The tenant, Walgreen Co., has approximately 6 years remaining on its lease with 10 (5-year) options to extend. The lease is NNN with limited landlord responsibilities to roof, structure, and exterior utilities. Walgreens operates nearly 9,000 retail locations across the U.S. and Puerto Rico, serving nearly 9 million customers and patients daily. The parent company, Walgreens Boots Alliance (WBA), recently announced an agreement to be acquired by a Sycamore Partners-affiliated entity for up to $23.7 billion. The property is an outparcel to the Knox Mall, a grocery anchored shopping center with tenants such as Tractor Supply Co., Family Dollar, McDonald’s, Pizza Hut, Knox Super Wash, and Five Star Marketplace. The site is positioned along S. Heaton Street/U.S. Highway 35 (13,300 VPD). The property benefits from limited competition, as the only Walgreens location within a 15-mile radius. It is near Knox Community High School and the Northwest Health Starke Hospital. The 5-mile trade area is supported by a population of over 9,700 residents and 3,600 employees with an average household income of $73,363. The property size is 14,259 square feet.

Property Profile Location Intelligence

Current Use by Public Records

Drug stores

Suggested Use

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Joseph Lark — 1207 S Heaton St, Knox, IN 465342311

Location Insight

Map
Local Demand

City: Knox
County: Starke
State: Indiana
Longitude: -86.620734
Latitude: 41.285727

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For sale
Drug stores
IN
Knox
46534
1207 S Heaton St

What type of property is this?

Drug store - Corporate guaranteed Walgreens with 6 years remaining on the lease.

Where is this drug store located?

The property is located at 1207 S Heaton St Knox, IN.

What is the asking price?

The asking price for this property is $2,889,000.

What are key features of this property?

This property features: Corporate guaranteed Walgreens with approximately 6 years remaining on the lease and 10 (5‑year) options to extend, providing stable, long‑term income potential.; NNN lease structure offers a low‑management, passive investment opportunity.; **Strategic location as an outparcel to the Knox Mall, a grocery‑anchored shopping center, providing significant crossover exposure.**