100 N Memorial Dr - Drug Store FOR SALE


New Castle, IN 47362
$6,686,400 USD
646-841-0627
100 N Memorial Dr, New Castle, IN for Sale
$6,686,400 USD
Drug Store - FOR SALE
1/1
null | 6.25% Cap Rate

100 N Memorial Dr
New Castle, IN 47362


HIGHLIGHTS

  • Signalized Intersection
  • 2021 New Lease
  • Located in Main Retail Corridor
  • Leading Market Share
  • 16+ Year Operating History
  • Absolute NNN Lease - No Landlord Responsibilities

OVERVIEW

Northmarq, as exclusive agent, is proud to offer for sale to qualified investors the opportunity to acquire 100 N Memorial Drive, a 14,616 SF single-tenant building located in New Castle, Indiana. The property was built-to-suit and is occupied by Walgreens, who has operated at this location since 2008. The property is located at the signalized corner of Memorial Drive and Broad street, with a premium visibility to the over 32,000 VPD. The absolute NNN lease creates an ideal passive investment opportunity, requiring minimal involvement from the landlord. The lease is guaranteed by Walgreens Corporate through the remaining 10 years of firm lease term. The lease calls for 5% base term increases every 5 years.

FOR SALE DETAILS

PRICE

$6,686,400 USD

PRICE/SF

$457 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

51

LAND DETAILS

LAND ACRES

1.13 AC

LAND SF

49,223 SF

ZONING

-

APN/PARCEL ID

33-12-10-330-119.000-016

ASK ABOUT THIS PROPERTY

Jason MaierNorthmarqMore Info
646-841-0627

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Jason MaierNorthmarqMore Info
646-841-0627

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.