Walgreens | Strong Sales | 10 Yr NNN Lease

Walgreens | Strong Sales | 10 Yr NNN Lease

9240 Rockville RD.
Indianapolis, IN

Price: $5,186,000
Cap: 6.75%
NOI: $350,000
Building Size: 14,490 SF
Lot Size: 1.3 AC

Investment Highlights

INDIANAPOLIS | LARGEST CITY AND CAPITAL OF IN
• Indianapolis is the capital and most populous city in Indiana and is the county seat of Marion County.
• Three Fortune 500 companies are based in the city: health insurance company Elevance Health; pharmaceutical company Eli Lilly and Company; and agricultural chemical company Corteva.
• The city has a well-developed interstate network and accessibility to a large portion of the nationin one day making the region a burgeoning logistics and distribution hub.
• Indianapolis’ costs are far below national averages, attracting businesses and residents to the area.
• Home to multiple professional sports teams including the NFL’s Indianapolis Colts and the NBA’s Indiana Pacers.

DENSE RETAIL CORRIDOR ANCHORED BY TARGET AND COSTCO (59,371 VPD)
• The subject property is located at a signalized intersection (59,371 VPD) and is only 3 miles from Interstate 465 (148,246 VPD)
• The 5 mile population is 157,344 with 13.13% growth and an average household income of $78,001.
• This Walgreens is an outparcel to an LA Fitness Shopping Center in a dense retail corridor with 6.5M SF of Retail within 3 miles.
• The other outparcels of this center include Taco Bell, Outback Steakhouse, AT&T, Five Guys and more.
• Meijer, Menards, Chick-fil-A, Starbucks, Discount Tire & McDonalds are all adjacent to this property.
• Other national retailers on this corridor include Target, Walmart, Lowe’s Home Improvement, Hobby Lobby, Marshalls, Office Depot and more.

10 YEAR CORPORATE NNN LEASE
• The subject property has a corporate guaranteed NNN Lease with Walgreens that commenced in 2003 and expires in November 2033.
• In 2021, Walgreens signed a 5 year extension to the original 25 year lease that will expire in 2033.
• There are approximately 10 years remaining on this lease and eight, 5 year option periods.
• The Tenant is 100% responsible for all expenses including taxes, insurance, CAM, roof and structure.

INVESTMENT GRADE TENANT
• Walgreens Boots Alliance is the largest retail pharmacy, health and daily living destination across the U.S. and Europe with 9,277 stores in all 50 states.
• Walgreens is publicly traded (WBA: NYSE) with a net worth in excess of $110 billion.
• Both Walgreen Co. and Walgreens Boots Alliance, Inc. are investment-grade rated each with a Standard & Poor’s rating of BBB.

Don McMinn
OFFERING MEMORANDUM

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