3700 National E Rd Richmond, IN 47374-3643

Property Details for 3700 National E Rd

Year built

2006

Construction

TYPE NOT SPECIFIED

Lot size

1.94 lot acres

Property size

14,729 SF

Zone code

ZO01

Property type

Retail space

APN

89-16-35-000-301.001-030

APU

891635000301001030

Description

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.

Location Insight

City

Richmond

County

Wayne

State

Indiana

Longitude

-84.851

Latitude

39.8316

CBSA code

39980

CBSA name

RICHMOND, IN MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments