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    1425 21St St Newark, OH 43055

    Sponsored
    For Sale
    $3,725,000

    High-yield Walgreens in prime Newark, OH location.

    Property size:
    14,560 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 14,560-square-foot Walgreens, situated on a 1.51-acre lot at 1425 N 21st St, Newark, OH 43055. The property boasts a strong net lease (NNN) with Walgreens, a highly reputable national tenant, under a lease expiring February 29, 2028, with remaining term of approximately 3.8 years and lease options available (9 and 5 year). The property features a single, one-story building with 100% occupancy since March 1, 2003. The asking price is $3,725,000, yielding an attractive 8.00% cap rate based on a current Net Operating Income (NOI) of $298,000. This strategically located property sits at a highly visible, lighted intersection with over 30,000 cars passing daily. Its prime location is enhanced by its proximity to major retailers including Walmart, Kohl's, Kroger, McDonald's, AutoZone, Panda Express, Taco Bell, Starbucks, Wendy's, and Ohio State University. The property's strong tenant, long lease term, and high traffic count make it an ideal investment for discerning buyers seeking a stable, high-return asset in a thriving market. The property is classified as a convenience store, grocery store, and pharmacy/drug store.

    Property Features for 1425 21St St

    General Information

    Property type
    Individual retail properties
    Square Feet
    14,560 SF
    Lot Size
    65,776 SF

    Building Details

    Buildings
    1
    Stories
    1

    HighLights

    • High‑visibility corner lot at N 21st St. and Goose Pond Rd, Newark, OH; ~40 minutes from Columbus.
    • Corporate‑guaranteed lease recently extended; high‑traffic intersection (30,000+ cars daily).
    • Excellent location near Walmart, Kohl's, Kroger, McDonald's, and Ohio State University; strong growth potential.
    Property Profile Location Intelligence

    Current Use by Public Records

    Walgreens Photo Passport Photo Processor Walgreens Pharmacy Pharmacy Tracy Vilvens, RPH Pharmacy Cardtronics Atm FedEx OnSite Mailing Service

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Newark
    County
    Licking
    State
    Ohio
    Longitude
    -82.4282354
    Latitude
    40.0869067

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    FAQs

    What type of property is this?
    Individual retail property - High-yield Walgreens in prime Newark, OH location.
    Where is this individual retail property located?
    The property is located at 1425 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: High-visibility corner lot at N 21st St. and Goose Pond Rd, Newark, OH; ~40 minutes from Columbus.; Corporate-guaranteed lease recently extended; high-traffic intersection (30,000+ cars daily).; Excellent location near Walmart, Kohl's, Kroger, McDonald's, and Ohio State University; strong growth potential.
    Request Owner's contact information
    1425 21St St Newark, OH 43055
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    Newark, OH 43055
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1425 21St St Newark, OH 43055
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