3390 Elm Rd - Drug Store FOR SALE


Warren, OH 44483- Warren/Niles
$2,938,000 USD
323-620-9845
3390 Elm Rd, Warren, OH for Sale
$2,938,000 USD
Drug Store - FOR SALE
1/2
null | 7.4% Cap Rate

3390 Elm Rd
Warren, OH 44483
Warren/Niles


HIGHLIGHTS

  • Long-term lease with Walgreens, expiring August 31, 2035, backed by a corporate guarantee.
  • Absolute NNN lease with zero landlord responsibilities, creating a truly passive income stream.
  • Strategic hard-corner location at Elm Road and North River Road with 29,119 average daily traffic count.
  • Freestanding 14,470 SF building with drive-thru and ample parking on a 1.53-acre parcel.
  • Established retail trade area supported by national brands, strong regional access, and dense residential neighborhoods.
  • Built-in rent escalation of 5% every fifth year during base term and options, offering long-term income growth.

OVERVIEW

This single-tenant Walgreens property in Warren, Ohio offers investors a long-term, secure income stream through an absolute triple-net (NNN) lease backed by a corporate guaranty. Located at 3390 Elm Road N.E., the asset is positioned on a high-visibility corner at the intersection of Elm Road and North River Road, one of the city's primary retail corridors. The building, totaling approximately 14,470 square feet, includes a convenient drive-thru and 62 dedicated parking spaces on a 1.53-acre parcel. The lease term runs through August 2035, providing nearly 10 years of remaining primary term with twelve additional 5-year renewal options. Rent escalates by 5% in the 6th, 11th, and 14th years, creating built-in income growth. The property is surrounded by national and regional retailers such as Menards, Dollar Tree, Sheetz, Pizza Hut, KFC, and Tractor Supply Co., ensuring consistent consumer activity. With over 29,000 vehicles per day at the intersection and proximity to the Youngstown-Warren-Boardman MSA, this Walgreens offers dependable returns and a passive management structure for investors seeking long-term stability in a necessity-based retail tenant.

FOR SALE DETAILS

PRICE

$2,938,000 USD

PRICE/SF

$256 USD /SF

CAP RATE

7.4%

% 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

1982

SPRINKLERS

-

PARKING SPACES

45

LAND DETAILS

LAND ACRES

0.73 AC

LAND SF

31,755 SF

ZONING

-

APN/PARCEL ID

44-205373

ASK ABOUT THIS PROPERTY

Matthew MayMay Realty AdvisorsMore Info
323-620-9845

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Matthew MayMay Realty AdvisorsMore Info
323-620-9845

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