2500 Grant St, Gary, IN 46404

This exceptional investment opportunity presents a 14,820-square-foot Walgreens located at 2500 Grant St, Gary, IN 46404. The property sits on a 2.31-acre lot and features a single-story building constructed in 2005. It's situated on a hard corner with excellent visibility at the signalized intersection of Grant St and W 25th Ave, boasting combined daily traffic counts of 28,882 vehicles. The property benefits from its proximity to Interstate-94, experiencing high daily traffic volume (178,595 vehicles). The Walgreens location includes a convenient drive-thru. The property is subject to an absolute triple-net (NNN) lease with Walgreens Boots Alliance, offering a passive investment structure. The lease, commencing December 26, 2005, has a remaining term of approximately 6.1 years, with ten 5-year renewal options. The asking price is $3,670,000, representing a price per square foot of $247.64 and a 7.49% cap rate, with a net operating income (NOI) of $275,000. The property is zoned R33 and has a 100% occupancy rate. The location is approximately 15 minutes from the Gary/Chicago International Airport. This Walgreens consistently outperforms national sales averages. The lease is corporately guaranteed by Walgreens Boots Alliance. The property's APN is 45-08-17-426-016.000-004.