Walgreens Pharmacy in Newark,
For Sale
Contact for pricing
1425 N 21st St, Newark, OH 43055
Long-term Walgreens in prime retail location near Columbus, OH.
Property Size14,560 SF
Price / SF$255.84
Days on Market720
Property Features for 1425 N 21st St
General Information
Standard status
Active
Size
14,560 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$298,000
Building Details
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Colliers - Rosemont, Illinois
Listed By:
Peter Block · License #471002226
(847) 384-2840
Source:
Crexi
Added: Oct 29, 2024
Changed: Oct 11
Last Checked: Oct 16 at 8:27AM
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 Colliers - Rosemont, Illinois
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Investment Insights
Based on property information with market context.
This property offers the opportunity to purchase a long-term Walgreens pharmacy situated in an irreplaceable location, 40 minutes from Columbus, OH. The tenant has occupied the building since 2003. Located at a lighted hard corner intersection, the site benefits from high visibility, with over 30,000 cars passing by daily. The location is positioned on the main retail corner at a lighted intersection and is immediately adjacent to a Walmart. The surrounding area features a mix of retail and dining establishments, including Kohl’s, Kroger, McDonalds, AutoZone, Panda Express, Taco Bell, Starbucks, and Wendy’s. Additionally, the Ohio State University is located nearby. The property encompasses 14,560 square feet.
Key Highlights
- Long‑term Walgreens tenant in place since 2003.
- Irreplaceable location 40 minutes from Columbus, OH.
- Located at a lighted hard corner intersection with high traffic count (30,000+ cars per day).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$265,332
Cap Rate
7.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,306,640
$5.3M
Cap Rate 7%
$3,790,457
$3.8M
Cap Rate 9%
$2,948,133
$2.9M
Market Conditions
NOI Build-Up for 14,560 SF
Gross rent
$393.1K $27.00/SF
− Vacancy
−$14.1K −$0.97/SF
EGI
$379.0K $26.03/SF
− OpEx
−$113.7K −$7.81/SF
NOI
$265.3K $18.22/SF
Area
Licking County, OH
Vacancy
3.58%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,306,640
Cap Rate 7%
$3,790,457
Cap Rate 9%
$2,948,133
Alternative Uses
Best Use
Retail
$3.79M
$3.32M – $4.42M
NOI $265,332 @ 7.0% cap · market cap 7.12%
Second Best
Specialty Retail
$866.4K
$758.1K – $1.01M
NOI $60,647 @ 7.0% cap · market cap 1.63%
Theoretical Best
Flex RnD
$11.69M
$10.23M – $13.64M
NOI $818,541 @ 7.0% cap · market cap 21.97%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
430
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 43055, OH
62,590
Population
27,046
Households
2.3
Avg Household Size
40
Median Age
23%
College-Educated
92%
High-School Grad
112.7 sq mi
ZIP Area
555
Density / Sq Mi
$61,807
Median Household Income
$39,412
Median Earnings
$920
Median Rent
$185,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Kroger Pharmacy — 1155 N 21st St, Newark, OH 43055
- Walmart Pharmacy — 1315 N 21st St, Newark, OH 43055
- COVID-19 Drive-Thru Testing at Walgreens — 1425 N 21st St, Newark, OH 43055
- Walgreens Pharmacy — 1425 N 21st St, Newark, OH 43055
- Darin E. Dishop, RPh — 1425 N 21st St, Newark, OH 43055
Frequently Asked Questions
What type of property is this?
Drug store - Long-term Walgreens in prime retail location near Columbus, OH.
Where is this drug store located?
The property is located at 1425 N 21st St Newark, OH.
What is the asking price?
The asking price for this property is $3,725,000.
What are key features of this property?
This property features: Long‑term Walgreens tenant in place since 2003.; Irreplaceable location 40 minutes from Columbus, OH.; Located at a lighted hard corner intersection with high traffic count (30,000+ cars per day).
