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.

Location Insight

City

Whitesville

County

Boone

State

West Virginia

Longitude

-81.542

Latitude

37.9849

CBSA code

16620

CBSA name

CHARLESTON, WV METROPOLITAN STATISTICAL AREA

Property Tax & Assessments