1915 W Broadway St - Drug Store FOR SALE


Princeton, IN 47670
$3,690,000 USD
619-297-0055
1915 W Broadway St, Princeton, IN for Sale
$3,690,000 USD
Drug Store - FOR SALE
1/3
null | 10% Cap Rate

1915 W Broadway St
Princeton, IN 47670


HIGHLIGHTS

  • The lease is an absolute NNN lease with zero landlord obligations whatsoever.
  • The property serves as the only Walgreens property in Princeton, with the next closest Walgreens pharmacy 23 miles away.
  • Located 6 miles away, Toyota Motor Manufacturing Indiana (TMMI) employs over 7,000 people and has invested over $1.3 billion in plant expansions.
  • Less than 1 mile from the property, Gibson General Hospital serves as the region’s leading healthcare facility.
  • Average household incomes are in the $70,000 to $75,000 range within a 3, 5 and 10 mile radius.
  • Princeton is located 45 minutes north of Evansville via US-41 S.

OVERVIEW

We are pleased to market for sale the Walgreens property located at 1915 W Broadway St, Princeton, IN 47670 ("The Property"). Walgreens has been operating at the site for 16 years and has approximately 9 years of firm term remaining before the option periods. Walgreens operates on an absolute triple net lease, which provides for no landlord obligations whatsoever. Located less than 1 mile from the Property, Gibson General Hospital, part of the Deaconess Health System, serves as the area’s leading medical facility. The hospital provides 24-hour emergency care, outpatient services, and a full spectrum of specialty care to Gibson County and the surrounding region, making it a significant demand driver for pharmacy services. The Property is the only Walgreens location serving the city of Princeton, with the next nearest Walgreens pharmacy located over 22 miles away. The Property is situated near one of the Midwest’s most important industrial employers, Toyota Motor Manufacturing Indiana (TMMI). The facility employs over 7,000 people and has produced more than 6 million vehicles since opening. With over $1.3 billion invested in recent expansions, including electric vehicle production, TMMI continues to play a central role in Princeton’s economy and long-term growth trajectory. In addition to TMMI, the surrounding industrial base includes over 4.2 million square feet of industrial space within a 5-mile radius. Listed in conjunction with Brian Brockman, Bang Realty Inc, 513-898-1551, wg@bangrealty.com, IN DRE Lic. RB14037939.

FOR SALE DETAILS

PRICE

$3,690,000 USD

PRICE/SF

$253 USD /SF

CAP RATE

10%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

±9 Yr Walgreens Limited Competition 10 CAP

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Convenience Store, Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.56 AC

LAND SF

111,514 SF

ZONING

-

APN/PARCEL ID

26-11-12-301-002.186-028

ASK ABOUT THIS PROPERTY

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

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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.