925 S Green River Rd - Drug Store FOR SALE


Evansville, IN 47715- East Evansville
$3,743,174 USD
619-297-0055
925 S Green River Rd, Evansville, IN for Sale
$3,743,174 USD
Drug Store - FOR SALE
1/3
null | 10% Cap Rate

925 S Green River Rd
Evansville, IN 47715
East Evansville


HIGHLIGHTS

  • Less than 1 mile from Acension St. Vincent Hospital (500+ beds) and 3.3 miles from Deaconess Gateway Hospital (250 beds).
  • 2M SF of retail within a 1 mile radius and less than 2 miles south of Eastland Mall (1M SF).
  • Absolute NNN lease with twelve (5-year) renewal options and 5% rent increases in the first four renewal periods.
  • Labcorp patient service center operates within the building, generating additional healthcare-related foot traffic.
  • Combined traffic count of approximately 25,426 VPD along S Green River Road and Washington Avenue and is less than a mile from SR 66 with 62,961 VPD.
  • Evansville employers include Deaconess Health System, Berry Global Group (Fortune 500), Ascension, Old National Bank, and Toyota Motor Manufacturing.

OVERVIEW

We are pleased to market for sale the Walgreens property located at 925 South Green River Road, Evansville, IN 47715 (the “Property”). The current lease term runs through November 30, 2029, with twelve (5-year) renewal options. Walgreens operates under a absolute net lease, which provides for no landlord obligations whatsoever and calls for rental increases every 5 years for the first four options. The Property is located less than 1 mile from Ascension St. Vincent Evansville, a hospital with approximately 508 beds, and 3.3 miles from Deaconess Gateway Hospital, which has approximately 250 beds. Within a 1-mile radius there is 2 million square feet of retail as well as the Eastland Mall located less than 2-miles north, a 1 million square foot center anchored by JCPenney, Dillards's and Macy's. The Property reports strong sales and includes a Labcorp patient service center, which provides diagnostic testing services and contributes additional customer traffic to the site. Evansville serves as the headquarters for several major employers, including Berry Global Group (a Fortune 500 company), Old National Bank, Koch Enterprises, and Jasper Engines & Transmissions. Other notable employers in the region include the TJ Maxx Distribution Center and Toyota Motor Manufacturing Indiana. Listed in conjunction with Brian Brockman, Bang Realty Inc, 513-898-1551, wg@bangrealty.com, IN DRE Lic. RB14037939.

FOR SALE DETAILS

PRICE

$3,743,174 USD

PRICE/SF

$240 USD /SF

CAP RATE

10%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Dense Retail Hub 1-Mi from 500+ Bed Hospital

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2001

SPRINKLERS

-

PARKING SPACES

65

LAND DETAILS

LAND ACRES

1.81 AC

LAND SF

78,844 SF

ZONING

-

APN/PARCEL ID

82-06-26-017-121.022-027

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.