Walgreens

SRS National Net Lease in collaboration with Hoty Enterprises, Inc. is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, investment grade (S&P: BBB-), drive-thru equipped, Walgreens investment property located in Lima, OH. The tenant, Walgreen Co. has 5 years of lease term remaining with 10 (5-year) option periods left to extend. The lease is signed by the corporate entity and is absolute NNN with zero landlord responsibilities, making it an ideal, low-management investment opportunity for a passive investor. Founded in 1901, Walgreens is among America’s largest pharmacies and health & beauty companies with nearly 9,000 stores in operation.
Walgreens is strategically located at the signalized, hard corner intersection of Harding Highway and Lost Creek Boulevard, averaging a combined 38,000 vehicles passing by daily. The asset also benefits from nearby access onto Interstate 75 (41,100 VPD), making it a centralized location with easy commutes for both employees and customers. Walgreens is ideally situated within a dense retail trade area and is adjacent to Eastgate Plaza, a 194K+ SF Community Center anchored by Gabe’s, Big Lots!, and Harbor Freight Tools. The additional surrounding national/credit tenants include Walmart Supercenter, ALDI, Sam’s Club, Tractor Supply Co., Chase Bank, Advance Auto Parts, and others. The surrounding national tenant presence drives a steady stream of loyal, local consumers and promotes crossover store exposure. Furthermore, the property is near numerous single-family communities and multi-family complexes including Country View (102 units), Luther Pines (108 units), Lima Towers (200 units), and others, providing a direct residential consumer base. The 5-mile trade area is supported by over 52,100 residents and 43,100 daytime employees, with an average annual household income of $59,820.