1207 S Heaton St Knox, IN 46534

This exceptional investment opportunity presents the fee simple ownership of a freestanding Walgreens located at 1207 S Heaton St, Knox, IN 46534. The property, built in 2005 and encompassing 14,259 square feet on a 2.04-acre lot, boasts a 100% occupancy rate with a corporate guaranteed Walgreens lease. The current lease, commenced January 1st, 2006, has a remaining term of 6.2 years with ten 5-year renewal options, extending to January 31st, 2031. The property features 62 parking spaces and is zoned C-2: General Commercial. The Net Lease (NN) structure minimizes landlord responsibilities, making this an ideal low-management investment. Situated as an outparcel to a grocery-anchored center experiencing over 1.9 million annual visits, the Walgreens benefits from high visibility and significant crossover traffic. The property enjoys limited competition within a 15-mile radius and serves a strong demographic area with over 9,700 residents and 3,600 employees within a 5-mile radius, boasting an average household income of $73,363. The asking price is $3,431,000, representing a price per square foot of $240.62 and an 8.00% cap rate with a current NOI of $274,500. This strategically located asset offers a compelling combination of strong tenant, long-term lease, and attractive financial metrics. The property's prime location along US Highway 35 (13,300 vehicles per day) further enhances its appeal.