Individually Owned Property summary
This exceptional investment opportunity presents a 14,729-square-foot Walgreens pharmacy located at 3700 National Rd E, Richmond, IN 47374. The property sits on a 1.94-acre lot and boasts a prominent location at a signalized intersection with high visibility and accessibility. The building features a drive-thru for added convenience. Currently operating under a triple-net (NNN) lease with Walgreens, a leading national pharmacy chain, the lease has a remaining term of 7.1 years, expiring… December 31, 2031, with a commencement date of December 16, 2006. The lease provides a stable income stream with a current net operating income (NOI) of $350,000 and a cap rate of 6.93%. The asking price is $5,050,000, translating to a price per square foot of $342.86. The property benefits from its location within a thriving retail corridor, surrounded by major national retailers such as Walmart, Menards, and Dick's Sporting Goods, ensuring strong traffic and customer base. This is a rare opportunity to acquire a well-established, high-performing Walgreens property with a long-term lease and minimal landlord responsibilities, offering a secure and lucrative investment for years to come. The property's strong fundamentals, coupled with the tenant's financial stability, make this an attractive investment prospect. The Wayne County location offers significant growth potential. The property's APN is 89-16-35-000-301.001-030.
Ownership intelligence
Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.
Owner contacts
Skip-traced phones and e-mails of the owner. Included with the full report.
Mortgages
Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.
Property tax · 2022
Value estimate
· Sep 2026Realmo valuation models over county records.
Recently sold
Cap rate analysis
No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.
Zoning insight
Location intelligence
Demand index: how under-served this business type is around this point — modeled from the LocInt grid (area demand vs. what already operates, adjusted by real visit traffic). Higher means stronger unmet demand.
Location
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 nearbyComparable nearby
Similar Nearby for Sale
Similar in This City for Lease
Instant AI valuation built from comps, income signals, and proprietary benchmarks.A defensible range, not a single guess.
from $99/month
- GBA
- 14,729 SF
- Lot area
- 1.94 ac
- Year built
- 2006
- Stories
- 1
- APN
- 89-16-35-000-301.001-030
- Zoning
- ZO01
- Assessed value · 2023
- $2,350,400
- Annual tax · 2022
- $54,198
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Price sensitivity
The rate is the decision lever; valuation is the consequence.
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Registration is required before the official district profile is shown.
Phones and e-mails of the people behind this property's owner, traced from licensed contact data.
Owner phones and e-mails come with the full report for this property - traced from licensed contact data, with verification and Do-Not-Call flags on every number.
Unlock the evidence behind ownership: portfolio, transactions, debt and any signals we can model, to help you decide who to contact next.
Registration is required before any owner information is shown.
The mortgage data is behind the paid report: recorded loans of the owner - lender, amount, rate and the estimated maturity - as part of the Ownership Intelligence workspace.
Registration is required before any owner information is shown.
- Ownership
- Owner Contacts
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Location Insight
- Alternative use
- Local Zoning Insight
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- Local Zoning Insight
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- Local Zoning Insight
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- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Location Insight
- Alternative use
- Local Zoning Insight
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