411 Stockton St Edmonton, KY 42129
- Drug stores
- 2,500 SF
- 0.70 lot acres
Current Use by Public Records
- Drug stores
Property Details for 411 Stockton St
- Year built
- 2023
- Lot size
- 0.70 lot acres
- Property size
- 2,500 SF
- Property type
- Drug stores
- APN
- 104-00-01-008.02
Description
This exceptional investment opportunity presents the fee simple ownership of a newly constructed (2023), 2,500 square foot Walgreens pharmacy in Edmonton, Kentucky. The property boasts a prime location on a signalized intersection of Stockton and Main Streets, benefiting from high daily traffic volume (15,900 vehicles). This absolute NNN lease with Walgreens, a corporate guarantor (S&P: BBB-), offers 8.5+ years remaining on the initial term, followed by four 5-year options. Rent increases of 5% every 5 years throughout the initial term and options provide built-in inflation protection and growing net operating income (NOI). The property features a drive-thru and is situated near other strong national and regional tenants, including Dollar General Market and ACE Hardware, ensuring consistent customer traffic. The surrounding area includes numerous residential communities, providing a substantial local consumer base. The 0.7-acre lot includes 23 parking spaces. The property's strong demographics, including over 4,600 residents and 1,600 daytime employees within a 5-mile radius, and an average household income of $50,152, further enhance its investment appeal. The asking price is $1,738,000, representing a 6.25% cap rate and a price per square foot of $695.20. The property's NOI is $108,600. This is a low-management, passive investment opportunity with significant long-term potential. The APN is 104-00-01-008.02. The permitted zoning is commercial.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Edmonton
- County
- Metcalfe
- State
- Kentucky
- Longitude
- -85.6174602
- Latitude
- 36.9795943
