330 State Blvd Fort Wayne, IN 46808-3135

Property Details for 330 State Blvd

Year built

2002

Construction

TYPE NOT SPECIFIED

Lot size

1.60 lot acres

Property size

14,392 SF

Property type

Retail space

APN

02-07-35-185-023.000-074

APU

20735185023000074

Description

This exceptional investment opportunity presents a 14,405 square foot Walgreens located at 330 W State Blvd, Fort Wayne, Indiana, 46808. The property features a highly desirable absolute NNN lease with a corporate guarantee from Walgreens (NASDAQ:WBA), ensuring consistent cash flow. The lease commenced October 1, 2002, and has a remaining term of approximately 8 years, extending to October 31, 2032, with ten 5-year renewal options. The property boasts a strong 8.50% cap rate and a net operating income (NOI) of $379,800, with an asking price of $4,468,235 ($310.19 per square foot). Situated on a hard corner location, this Walgreens benefits from high visibility and traffic, experiencing 17,513 vehicles per day. The property is conveniently located 1.5 miles from downtown Fort Wayne and is surrounded by complementary businesses including Burger King, Arby's, Dairy Queen, Kroger, Dollar Tree, and Pizza Hut. The seller is offering attractive financing options, providing 50% LTV financing. This is a rare opportunity to acquire a stable, high-performing Walgreens property in a thriving market with a strong tenant and significant remaining lease term. The property is 100% occupied. This investment is further enhanced by the strong demographics of the area, with 188,000 residents within a 5-mile radius.

Location Insight

City

Fort Wayne

County

Allen

State

Indiana

Longitude

-85.1459

Latitude

41.0966

CBSA code

23060

CBSA name

FORT WAYNE, IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments