1201 Main St Oak Hill, WV 25901

Property Details for 1201 Main St

Year built

2000

Lot size

1.18 lot acres

Property size

11,180 SF

Property type

Retail properties

Property subtype

Drug stores

Description

This exceptional investment opportunity presents a single-tenant, net-leased Walgreens pharmacy located at 1201 Main St E, Oak Hill, West Virginia, 25901. The 11,180-square-foot building, constructed in 2000 and renovated in 2018, sits on a 1.18-acre lot at a signalized intersection of Main Street East and Oyler Avenue. The property boasts a 10% cap rate and a strong net operating income (NOI) of $164,011. The current lease with Walgreens, a credit-rated tenant, expires February 28, 2029, offering a remaining term of approximately 4.3 years. Four 5-year lease renewal options are included, with rent escalations detailed in the offering memorandum. The property benefits from a high-traffic location, with over 22,478 vehicles per day on nearby US Highway 19. The surrounding area features numerous national retailers, including Tractor Supply Company, McDonald's, and O'Reilly Auto Parts, and is less than a mile from Fayette Institute of Technology and Oak Hill High School. A significant demographic advantage exists with 21,227 people residing within a seven-mile radius, boasting an average annual income of $61,301. The building includes a drive-thru pharmacy, enhancing convenience and profitability. This Walgreens location, part of a global leader in retail pharmacy, presents a compelling investment opportunity with significant potential for long-term growth and return. The asking price is $1,640,106, translating to a price per square foot of $146.70. The property is 100% occupied.