244 N Lake Dr Prestonsburg, KY 41653
New Walgreens in Prestonsburg, KY with long-term corporate lease.
Type:Retail
Property size:
2,500 SF- Added:
- May 28, 2024
- Days on Market:
- 693
- Last Refresh:
- Mar 17 at 1:25 pm
Property Features for 244 N Lake Dr
General Information
- Standard status
- Active
- Size
- 2,500 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2023
Listing agent Sean Lutz License #IL 475132482
Listing office SRS Real Estate Partners Chicago
Listing date May 28, 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 Chicago
Overview
New Walgreens with Drive-Thru
This newly built Walgreens investment property is located in Prestonsburg, KY. The property features a drive-thru. The tenant, Walgreen Co., has over 7 years of firm term remaining with an additional 4 (5-year) option periods. The lease includes 5% rental increases throughout the initial term and 7.50% increases throughout the options. The lease is signed by the corporate entity and is absolute NNN with zero landlord responsibilities. This is one of Walgreens’ brand new “Cooper” prototype pharmacies, with a health and wellness focus. The property is located near the signalized, hard corner intersection of Lake Drive and State Highway 114, with an average of 22,600 vehicles passing by daily. Lake Drive serves as the community’s primary retail corridor. Surrounding tenants include U.S. Bank, Yamato Steak House of Japan, ACE Hardware, KFC, Mr. Tire Auto, AutoZone, and Wendy’s. The asset is near numerous single-family communities and multi-family complexes including Highland Terrace (80 units) and Cliffside Apartments (94 units). The 5-mile trade area is supported by over 10,600 residents and 6,700 daytime employees, with an average annual household income of $65,488. The property size is 2,500 square feet.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Drug stores
Similar Places Nearby
- Wanda K. Salyer, RPh — Prestonsburg, KY 41653
- Brown Bag Remedies — 274 W Court St, Prestonsburg, KY 41653
- Huff Drug — 115 Village Dr, Prestonsburg, KY 41653
- Grey Area CBD — 101 Village Dr, Prestonsburg, KY 41653
- Harold W. Cooley, R — 128 N Lake Dr, Prestonsburg, KY 41653
Location Insight
- Map
- Local Demand
- City
- Prestonsburg
- County
- Floyd
- State
- Kentucky
- Longitude
- -82.771859
- Latitude
- 37.666154
Nearby Similar for Sale
FAQs
What type of property is this?
Drug store - New Walgreens in Prestonsburg, KY with long-term corporate lease.
Where is this drug store located?
The property is located at 244 N 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: Absolute NNN lease with zero landlord responsibilities.; Corporate‑backed lease with 7+ years of firm term remaining.; Rare rental increases of 5% throughout the initial term and 7.50% during option periods.
