69 Lewis St Whitesville, WV 25209

Property Details for 69 Lewis St

Lot size

1.37 lot acres

Property type

Retail space

APN

03-09- 1-0055.0004

APU

309100550004

Description

This exceptional investment opportunity presents a fee-simple ownership of a single-tenant Walgreens located at 69 Lewis St, Whitesville, WV 25209. The property, built in 1996 and boasting a new roof installed in 2022 (with a 10-year manufacturer warranty), features a drive-thru and enjoys a highly strategic location as the only major pharmacy within a 20-mile radius. This unique position, coupled with its function as a local grocery store alternative, contributes to exceptionally high store sales, resulting in a rent-to-sales ratio of less than 2%. The current lease, a Net Net (NN) agreement with Walgreens, commenced on February 29, 1996, and has a remaining term of approximately 1.5 years, expiring October 26, 2026. The lease includes five, 5-year options, and rent escalates to $141,427 in 2026, with 5% increases every five years thereafter. The property's strong performance is reflected in its current Net Operating Income (NOI) of $60,000, yielding a 6.00% cap rate on the asking price of $1,000,000. The property's APN is 03-09-1-0055.0004. This is a rare opportunity to acquire a high-performing, long-term investment with a proven track record of over 28 years of operation. The limited nearby retail competition further enhances the property's value and potential for continued growth.