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Walgreens

Cincinnati, Ohio

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NNN Pro Group is pleased to present the exclusive listing for a Walgreens located at 385 Northland Boulevard, Cincinnati, Ohio. The site consists of roughly 14,747 rentable square feet of building space on estimated 2.57-acre parcel of land. This Walgreens is subject to a 15-year absolute triple-net (NNN) lease, which commenced February 23rd, 2023. The current annual rent is $295,200 and is scheduled to increase by 5% every 5 years throughout the base term and in each of the 12, 5-year renewal options.

✓ Long-Term, 15-Year Absolute Triple Net (NNN) Lease
✓ Approximately 14.9 Years Remaining
✓ Five (5%) Rental Increases Occurring Every Five (5) Years
✓ Twelve (12), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 75 Years

Key Details

Price:
$4,723,200
Cap Rate:
6.25%
Annual Rent:
$295,200
Address:
385 Northland Blvd, Cincinnati, Ohio 45240
Property Type:
Retail - Drug Store
Lease Type:
Tripel Net (NNN)

Original Lease Term:
15 Years
Lease Commencement:
2/23/2023
Lease Expiration:
2/28/2038
Lease Term Remaining:
14,9 Years
Rental Increases:
5% Every 5 Years
Lot Size:
2.57 Acres
Building Size:
14,747 SF
Year Built:
1991
Tenant:
Walgreens

Talk to the pros

Glen Kunofsky

License: 49KU1129178

Kyle Karsian

License: 10401321452

Robert Stein

License: 10401341647

Broker of record

Brian Brockman

Bang Realty Inc.

License: BRK.2009000214


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