1425 21St St Newark, OH 43055

Property Details for 1425 21St St

Year built

2003

Lot size

1.52 lot acres

Property size

14,509 SF

Property type

Drug stores

APN

054-269904-00.004

APU

5426990400004

Description

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.

Location Insight

City

Newark

County

Licking

State

Ohio

Longitude

-82.4281

Latitude

40.0869

CBSA code

18140

CBSA name

COLUMBUS, OH METROPOLITAN STATISTICAL AREA

Property Tax & Assessments