32798 Walker Rd - Drug Store FOR SALE


Avon Lake, OH 44012
$2,600,000 USD
440-567-8768
32798 Walker Rd, Avon Lake, OH for Sale
$2,600,000 USD
Drug Store - FOR SALE
1/3
null | 8.64% Cap Rate

32798 Walker Rd
Avon Lake, OH 44012


HIGHLIGHTS

  • Corporate-backed Walgreens with drive-thru in a proven14,990 SF location generating $224,595 in annual NOI
  • Affluent Avon Lake suburb with $115,567 median household income, steady population growth, and active new home construction
  • Attractive 8.63% cap rate at $2,600,000 — compelling pricing relative to replacement cost and recent comparable Walgreens sales
  • Tenant pays all taxes, insurance, and maintenance
  • Through March 31, 2067 with corporate guarantee by Walgreens (Sycamore Partners)
  • High-visibility NWC of Route 83 & Walker Road with excellent traffic and access

OVERVIEW

Avon Lake, Ohio stands out as a premier suburban market for pharmacy retail, offering a rare combination of strong demographics, sustained population growth, rising affluence, and active new home construction. Located at the highly visible northwest corner of Route 83 and Walker Road, this modern Walgreens store is perfectly positioned to serve a growing, high-income community with exceptional pharmacy demand. This property represents an outstanding investment in a thriving, affluent suburban market where pharmacy demand is both stable and expanding. Ideal for local investors and 1031 exchange buyers seeking long-term cash flow in a high-quality community.

FOR SALE DETAILS

PRICE

$2,600,000 USD

PRICE/SF

$186 USD /SF

CAP RATE

8.64%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2001

SPRINKLERS

-

PARKING SPACES

75

LAND DETAILS

LAND ACRES

2.16 AC

LAND SF

94,090 SF

ZONING

C

APN/PARCEL ID

04-00-018-128-217

ASK ABOUT THIS PROPERTY

Shaun BradyGoodman Real Estate Services GroupMore Info
440-567-8768

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Shaun BradyGoodman Real Estate Services GroupMore Info
440-567-8768

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