Receiver Sale: Dark Walgreens | Charleston MSA | 8K VPD

Highlights:

• In-Place Income: Walgreens’ absolute NNN lease runs through May 2030, generating $136,716 in annual NOI despite the site being dark.
• Dual Investment Strategy: Offers both passive income and long-term redevelopment upside, ideal for investors seeking flexibility.
• Prime Retail Corridor: Located on Main Street with 8,000 vehicles per day and proximity to schools and Dollar Tree, ensuring steady traffic and visibility.
• Redevelopment Ready: The 11,225 SF open floorplan and 1.58-acre lot are well-suited for conversion to medical, QSR, or other retail uses.
• Strong Re-Leasing Fundamentals: Should Walgreens exit, the property’s location and layout support high demand from replacement tenants.

Description:

Ri Marketplace Online Auction December 15th-17th, 2025
Register to bid on Marketplace:

https://rimarketplace.com/auction/2895/receiver-sale-dark-walgreens-charleston-msa-8k-vpd?utm_source=brevitas&utm_medium=listing&utm_campaign=external&utm_content=retail_2895

Jones Lang LaSalle Americas, Inc. (“JLL”), in conjunction with RI Marketplace, is pleased to present a dual-focused investment opportunity at 173 Main Street in Clay, WV (the “Asset” or the “Property”). The Property features an 11,225 SF building on a prime 1.58-acre lot, offering secure, in-place income from Walgreens coupled with significant value-add redevelopment potential. While the site is not currently operational, Walgreens’ absolute NNN lease runs through June 1st, 2030, providing roughly 4.5 years of stabilized cash flow from a nationally established tenant. This unique situation allows an investor to collect passive income while planning the asset’s next chapter. The Property’s flexible open-floorplan building, expansive lot, and premier location present a compelling value-add opportunity.

The Property’s intrinsic value is rooted in its strategic location within Clay’s primary retail corridor, which sees over 8,000 vehicles per day. Positioned near schools like Clay Elementary School, and Clay County High School and retailers like Dollar Tree, the site benefits from constant traffic and core community positioning. Its large lot and highly adaptable open-floorplan building are ideal for future conversion to medical services, quick-service restaurants, or another flagship retailer.

Should Walgreens terminate its lease, the asset’s strong real estate fundamentals ensure robust re-leasing demand. This offering provides the rare chance to acquire a core retail property with both a secure income stream and clear redevelopment upside.


Lamar P. Fisher
Fisher Auction Company Inc.
License: 2474
The platform fee for this transaction is the greater of 5.00% or a minimum of $25,000.

Documents: