244 Lake Dr Prestonsburg, KY 41653
Sponsored
High-Yield Walgreens Investment
Property size:
2,500 SFDescription
- Added:
- Dec 11, 2024
- Days on Market:
- 391
Property Features for 244 Lake Dr
General Information
- Property type
- Individual retail properties
- Square Feet
- 2,500 SF
- Lot Size
- 31,363 SF
Building Details
- Year Built
- 2023
- Buildings
- 1
HighLights
- $1,661,000 asking price for a 2,500 square foot Walgreens in Prestonsburg, KY.
- Absolute NNN net lease with a corporate guarantee from Walgreens, offering a 6.25% cap rate and $103,800 NOI.
- 9‑year lease term remaining with four 5‑year options; rent increases are 5% every 5 years initially, then 7.5% at the beginning of each option period.
- Located on a hard corner, signalized intersection with high daily traffic counts, surrounded by strong national and regional tenants.
- Serves a dense residential area with over 10,600 residents and 6,700 daytime employees within a 5‑mile radius.
Property Profile
Location Intelligence
Current Use by Public Records
Drug stores
Location Insight
- Map
- Local Demand
- City
- Prestonsburg
- County
- Floyd
- State
- Kentucky
- Longitude
- -82.7741003
- Latitude
- 37.6697482
Nearby Similar for Sale
FAQs
What type of property is this?
Individual retail property - High-Yield Walgreens Investment
Where is this individual retail property located?
The property is located at 244 Lake Dr Prestonsburg, KY.
What is the asking price?
The asking price for this property is $1,661,000.
What are key features of this property?
This property features: $1,661,000 asking price for a 2,500 square foot Walgreens in Prestonsburg, KY.; Absolute NNN net lease with a corporate guarantee from Walgreens, offering a 6.25% cap rate and $103,800 NOI.; 9-year lease term remaining with four 5-year options; rent increases are 5% every 5 years initially, then 7.5% at the beginning of each option period.
