613 Randolph Ave Elkins, WV 26241
- Retail properties
- 14,696 SF
- 1.11 lot acres
Current Use by Public Records
- MedExpress Urgent Care / Urgent Care Center / Occupational Health Service
Property Details for 613 Randolph Ave
- Lot size
- 1.11 lot acres
- Property size
- 14,696 SF
- Property type
- Retail properties
- Property subtype
- Drug stores
Description
This exceptional investment opportunity presents a fee-simple, 14,696 square foot Walgreens located at 613 Randolph Ave, Elkins, WV 26241. The property sits on a 1.11-acre lot and is situated on a prime signalized corner, boasting a top 10% Placer.ai ranking among West Virginia Walgreens locations. This single-tenant, absolute triple-net (NNN) lease with Walgreens (NASDAQ: WBA), an investment-grade tenant with an S&P BBB rating, offers significant advantages. The lease, commencing April 20, 2020, and expiring April 1, 2035, includes a 5% rent increase every five years. The current annual net operating income (NOI) is $311,200, resulting in a 7.00% cap rate. The property's strong performance is further enhanced by its unique feature: it's one of only fifteen Walgreens nationwide to incorporate a Medical Express Urgent Care. Elkins' thriving economy, fueled by healthcare, education, and tourism (including proximity to the Monongahela National Forest), ensures a stable and growing market. The property benefits from its location near other national retailers such as Kroger, McDonald's, CVS, Wendy's, Dollar General, and NAPA Auto Parts. Recent infrastructure improvements further bolster Elkins' long-term growth potential. The asking price for this exceptional investment is $4,446,000. The property's APN is 42-05-A-002.0000.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Elkins
- County
- Randolph
- State
- West Virginia
- Longitude
- -79.8501
- Latitude
- 38.9289
