Knox, IN - Walgreens

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a freestanding, corporate guaranteed Walgreens investment property located in Knox, Indiana. The tenant, Walgreen Co., has 6 years remaining on its lease with 10 (5-year) options to extend. The lease
is NN with limited landlord responsibilities making it an ideal, low management investment opportunity for a passive investor. Walgreens serves a crucial role as an independent partner of choice offering healthcare services that improve care, lower costs, and help patients. Operating nearly 9,000 retail locations across the U.S. and Puerto Rico, Walgreens is proud to serve nearly 9 million customers and patients daily.

The asset has excellent location as an outparcel to the Knox Mall, the primary retail destination in the city of Knox. The shopping center encompasses nearly 100K square feet of retail space featuring tenants such as Tractor Supply Co., Family Dollar, McDonald’s, Pizza Hut, Knox Super Wash, and Five Star Marketplace. Walgreens receives a significant amount of crossover exposure and consumer traffic from the surrounding retail center, which sees 1.9M+ annual visits (per Placer.ai). The site
is strategically positioned along S. Heaton Street/U.S. Highway 35 (13,300 VPD), a north/south traveling highway connecting the property to Michigan City and the southern base of Lake Michigan. The subject property benefits from limited competition, serving as the lone Walgreens location within a 15-mile radius. In addition, its proximity to the adjacent Knox Community High School, and the Northwest Health Starke Hospital, provide direct access to the surrounding consumer base. The 5-mile trade area is supported by a population of over 9,700 residents and 3,600 employees with an average household income of $73,363.