Walgreens Pharmacy in Newark,
1425 N 21st St Newark, OH 43055
1425 N 21st St, Newark, OH, 43055
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For Sale
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Long-term Walgreens in prime retail location near Columbus, OH.
Property Size14,560 SF
Price / SF$255.84
Days on Market629
Property Features for 1425 N 21st St
General Information
- Standard status
- Active
- Size
- 14,560 SF
- Property subtype
- Retail
Listing Agency
Colliers - Rosemont, Illinois
(847) 384-2840
Listed by
Peter Block · License #471002226
Source
Crexi
Added: Oct 29, 2024 Checked: Jul 17 at 1:11 pm
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
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).
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $393.1k | $27.00 |
| − Vacancy | −$14.1k | −$0.97 |
| EGI | $379.0k | $26.03 |
| − OpEx | −$113.7k | −$7.81 |
| NOI | $265.3k | $18.22 |
14,560 SF · lease $27.00/SF/yr · vacancy 3.58% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Walgreens Photo
(Bike/Boat/Book/etc) Store
Walgreens Pharmacy
Pharmacy
Tracy Vilvens, RPH
Pharmacy
Cardtronics
Atm
FedEx OnSite
Postal Service
Similar For Sale Nearby
FAQs
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).
