1528 Main St - Drug Store FOR SALE


Parsons, KS 67357
$3,406,717 USD
619-297-0055
1528 Main St, Parsons, KS for Sale
$3,406,717 USD
Drug Store - FOR SALE
1/2
null | 12% Cap Rate

1528 Main St
Parsons, KS 67357


HIGHLIGHTS

  • Absolute NNN lease with zero landlord obligations whatsoever, with 5% rental increases in the first four options.
  • The property benefits from minimal drugstore competition with the next nearest Walgreens 26 miles away and the nearest CVS over 45 miles away.
  • Serving as the only major hospital system in Parsons, Labette Health is a 99-bed hospital providing services to the six-county area.
  • 1.5 miles away, Parsons Research Center is a partnership between KSU and federal, state, and county governments conducting research throughout Kansas.
  • Adjacent to the property, Labette Community College enrolls over 1,500 students annually.

OVERVIEW

We are pleased to market for sale the Walgreens property located at 1528 Main St, Parsons, KS 67357 ("The Property"). Walgreens has been operating at the site for 20 years and has over 4 years of firm term remaining before the 12 (5-year) option periods. Walgreens operates on an absolute triple net lease, which provides for no landlord obligations whatsoever and calls for a 5% increase in the first four options. The property benefits from minimal drugstore competition with the next nearest Walgreens 26 miles away and the nearest CVS over 45 miles away. Located less than one mile from Labette Health, a full-service hospital and Level IV trauma center, the pharmacy segment benefits from being the only national chain pharmacy servicing one of the city’s largest and most critical institutions. Adjacent to the Property, Labette Community College enrolls over 1,500 students annually and adds to the area’s educational and economic base. The site is also surrounded by a mix of national and regional tenants, including Walmart, Dollar Tree, AutoZone, and multiple fast food operators, reinforcing the area's position as a key retail hub for the broader region. Listed in conjunction with Brian Brockman, Bang Realty - Kansas Inc., 513-898-1551, wg@bangrealty.com, KS DRE Lic. 239819.

FOR SALE DETAILS

PRICE

$3,406,717 USD

PRICE/SF

$231 USD /SF

CAP RATE

12%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

No Walgreens for 26 Miles I 5% Increases

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Convenience Store, Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2005

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.42 AC

LAND SF

61,855 SF

ZONING

-

APN/PARCEL ID

024-19-0-20-01-001.00-0

ASK ABOUT THIS PROPERTY

Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

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

Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

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