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Financial
Distress signals
Property profile

320 S Water St Kent, OH 44240

FOR SALE
Drug stores
Property ID
US66-6216725
14,936 SF 1.66 ac lot Built 2000
Last sale Apr 2017 · $24,550
Entity Owned Owner of record is a legal entity (LLC / corporation). 9-yr Hold Held for 9 years. Free & Clear No active or open recorded mortgage detected.
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Property summary

AI-generated overview

This exceptional investment opportunity presents a 15,120-square-foot freestanding Walgreens pharmacy in Kent, Ohio. Built in 2000 and situated on a 1.66-acre lot at 320 S Water St, this single-story building is currently under a net-net (NN) lease with Walgreens Boots Alliance, a tenant with an S&P rating of "BB". The lease commenced October 6, 2000, and has a remaining term of approximately 39 years, expiring October 31, 2063, with five-year tenant renewal options. The current lease term…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2023

What does the county charge?
$50k
Tax billed · 2023
Assessed value$728k
Assessed land$252k
Assessed improvement$476k
Effective rate6.89%

Value estimate

· Oct 2026
$1.25M
$1.13M – $1.38M
CAP approach$905k
Submarket $/SF estimate$1.42M
NOI build-up
Gross scheduled income$272k
Vacancy & credit loss−$9k
Operating expenses−$66k
NOI · 5.81% cap applied$197k

Realmo valuation models over county records and 11 qualifying comparable sales.

Recently sold

What actually traded nearby?
$75/SF
ZIP average, outlier-cleaned · 30 recorded sales of this use type
Observed band · Q1–Q3$31 – $95
Qualifying comparables11

Cap rate analysis

How does the asset earn?
5.81%
$197k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

No data for this section
What can be built here?

No zoning code is on file for this parcel. Coverage grows with every catalog release.

JurisdictionPORTAGE

Location intelligence

Which uses thrive at this corner?
Best fit: HVAC Service
Demand heat for this use is drawn on the map · LocInt grid
Demand index
HVAC Service12.4
Dental Office11.9
Spa & Massage11.7

Location

320 S Water St Kent, OH 44240
County assessor Recorded deeds · 2 transfers 11 qualifying comp sales Zoning catalog · not on file

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 10 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
1850 State Rte 59, Kent, OH 44240-4174 $900,000 May 2025 16,488 SF
1021 Mason, Kent, OH 44240-2718 $273,000 Apr 2025 10,004 SF
4211 Karg Industrial, Kent, OH 44240-6470 $1,250,000 Mar 2024 28,000 SF
1990 Brady Lk, Kent, OH 44240-2792 $75,000 Feb 2024 6,440 SF
2256 State Rte 59, Kent, OH 44240-7144 $445,000 Mar 2023 6,476 SF
1133 Main, Kent, OH 44240-2007 $470,000 Jan 2023 12,096 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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