2400 E Center St Warsaw, IN 46580

Property Details for 2400 E Center St

Year built

2003

Construction

TYPE NOT SPECIFIED

Lot size

1.68 lot acres

Property size

14,500 SF

Zone code

C-2 G

Property type

Retail space

APN

43-11-09-200-791.000-032

APU

431109200791000032

Description

This exceptional investment opportunity presents a 14,480-square-foot Walgreens pharmacy located at 2400 E Center St, Warsaw, IN 46580. The property boasts a strong absolute triple-net (NNN) lease with a corporate guarantee from Walgreens (NASDAQ:WBA), ensuring consistent cash flow. The lease commenced August 1, 2004, and expires July 31, 2029, with ten, five-year renewal options, providing significant long-term stability. The current asking price is $4,784,615, representing a 6.50% cap rate based on a net operating income (NOI) of $311,000. The property benefits from high reported sales of $3,087,434 and enjoys a prime location along a major commercial thoroughfare, less than a mile from Lake City Highway (26,000+ vehicles per day) and one mile from Lutheran Kosciusko Hospital (72-bed). The Walgreens is surrounded by complementary businesses, including Jimmy John's, Dunkin' Donuts, Kroger, Papa John's, Yamato's Steakhouse, Taco Bell, and Burger King. Attractive seller financing is available, offering 50% LTV. This is a rare opportunity to acquire a well-established, high-performing Walgreens with substantial remaining lease term and significant upside potential.

Location Insight

City

Warsaw

County

Kosciusko

State

Indiana

Longitude

-85.8239

Latitude

41.2375

CBSA code

47700

CBSA name

WARSAW, IN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments