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Absolute NNN Walgreens

$6,174,000

6701 Frank Ave NW, North Canton, OH 44720

Active
Last Updated: 05/12/2023

5.25

Cap Rate

324,150

NOI

Details:
Cap Rate:    5.25%
NOI:    $324,150
Building Size:    11,938 sqft
Lot Area:    1.71 acres
Occupancy:    100%
Year Built:    2008
Highlights:
  • 5.25% CAP
  • ABSOLUTE NNN LEASE | 11.5 YEARS REMAINING
  • NO LANDLORD RESPONSIBILITIES | TENANT PAYS DIRECT
  • (10) 5-YEAR OPTIONS | WALGREENS (S&P BBB) CORPORATE FORTUNE 500 COMPANY | 8,892 LOCATIONS | $132.5B REVENUE
  • FEE SIMPLE ASSET | OFFERED FREE & CLEAR
  • SIGNALIZED CORNER | 32,000+ VPD AT INTERSECTION
  • MINUTES FROM I-77 / VETERAN’S MEMORIAL HWY | 73,000+ VPD
  • STRONG AND GROWING DEMOS | 146k PEOPLE IN 5-MILE RADIUS
  • AFFLUENT MARKET | $92K AVERAGE HOUSEHOLD INCOME
  • LIMITED COMPETITION | NO WALGREENS IN IMMEDIATE VICINITY
  • MINUTES FROM SEVERAL HOSPITALS INCLUDING CLEVELAND CLINIC MERCY HOSPITAL & AULTMAN HOSPITAL
  • RETAILERS IN IMMEDIATE AREA INCLUDE: WALMART, HOME DEPOT, LOWE’S, SAM’S CLUB, AT HOME, BEST BUY, OLD NAVY, GIANT EAGLE, PANERA BREAD, STARBUCKS, TACO BELL, MCDONALD’S, ARBY’S, DUNKIN’ WENDY’S AND MANY MORE.
Description:

Jonna Group at Colliers has been selected to exclusively represent for sale the absolute NNN Walgreens located in North Canton, OH. Walgreens signed an original 25-year absolute NNN lease with zero landlord responsibilities and has 11.5 years remaining of term. Walgreens is located with high visibility and frontage on the busy signalized corner of Frank Avenue and Portage Road (32,000+ Combined VPD). The site is ideally located just minutes from the busy Interstate 77 / Vietnam Veteran’s Memorial Hwy (73,000+ VPD).

The subject property is located in a dense retail trade zone with several national retailers in the immediate vicinity. The site is adjacent to “The Strip”, an 800,000-square foot highly trafficked shopping center. Surrounding national retailers include: Walmart, The Home Depot, Sam’s Club, At Home, Best Buy, Old Navy, Lowe’s, Giant Eagle Supermarket, Panera Bread, Starbucks, Taco Bell, Arby’s, McDonald’s, Dunkin’, Wendy’s and many more. The site is neighbored by numerous medical offices and minutes from several hospitals including the prestigious Cleveland Clinic Mercy Hospital, Aultman Hospital, Akron Children’s Hospital and more.

The location features excellent demographics with over 110,000+ people in a 5-mile radius and $92,000+ average household income, well above the national average. Walgreens sits adjacent to Kent State University at Stark and is minutes from Akron-Canton Airport.

North Canton, OH

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