- In the past 5 years, 691 multi-family units, including the 331-unit 'Fitzroy Promenade', have been built in the immediate 2- mile radius. In addition, the 34-acre 'Crossroads at Chenal' mixed-use development is set to be completed this year.
- There is 2.7 million square feet of retail space in a 2-mile radius. Located 1 mile north of the subject property is the Promenade at Chenal, a 306,000 sf open-air lifestyle center which is home to popular retailers such as Apple, Lululemon, DSW, and Homegoods.
- Frontage on Chenal Parkway (39,000 VPD) and Wellington Hills Road (5,905 VPD).
- Subject property is located in a dense affluent area with average household income of over $121,000 and a population of more than 45,000 residents in a 3-mile radius.
- Within a 4-mile radius there are three major hospitals with a combined bed count of over 1,066 beds.
Available properties
- New 15-year lease signed, including 5% rent increases during 8 (5-year) option periods.
- Placer.Ai ranks this location #1 out of 5 Walgreens stores within a 10-mile radius.
- Located in a dense retail corridor with 4.7 million square feet of retail space within two miles.
- Benefits from a regional military presence of ±82,000 active-duty personnel from 15 installations, including ±23,000 employees at Joint Base Langley-Eustis.
- This Walgreens serves as the only national chain drugstore in Guthrie with no other CVS/Walgreens for over 13 miles.
- Buyer may assume the current interest only loan with a 4.84% rate and a balance of $2,742,750. Cash required for down payment is $621,909 and the annual cash flow after debt service is $153,807. Loan is non-recourse and there is a one percent (1%) assumption fee paid by buyer. Loan due date is 1/25/2028.
- Walgreens is located on the main retail corridor of Guthrie directly across from a Walmart Supercenter and surrounded by a number of complimentary national retail tenants. The next nearest retail corridor is over 19 miles to the south.
- Guthrie is projected for continued growth in the coming years as development pushes north from Oklahoma City along with I-35 corridor.
- Only pharmacy open on Weekends in Elkhart and only store open until 10 PM.
- According to Placer.Ai, this store ranks first in foot traffic among the three other Walgreens locations in a 5-mile radius.
- The property benefits from its position in a robust retail corridor, surrounded by 1.3 million square feet of retail space within a 1-mile radius.
- The subject property is 2.5-miles from Elkhart General Hospital, a 374-bed facility employing 2,000 people.
- Elkhart recently received a $9.5 million READI 2.0 grant—the largest in the South Bend-Elkhart region—to fund 284 residences, 60,000 square feet of office and retail space, and over $1 million in public art in its Downtown River District area.
- Buyer may assume the current in place financing with a 3.89% rate and a balance of $3,477,344 as of March 2025. Cash required for down payment is $600,444 and the annual cash flow after debt service is $8,454. There is a one percent (1%) assumption fee paid by buyer. Loan due date is 12/18/2030.
- CVS guarantees the rental income which has 5% increases in the options and does not include a rent holiday.
- In 2020, after operating at the location for 14 years, CVS agreed to extend the lease to a rare 20 year firm term before the options showing the strong performance and commitment to the location.
- New developments include over 110,000 square feet of medical space as well as 'Orland Ridge', a brand new 300+ home community located directly across the street.
- Frontage on La Grange Road (38,700 VPD) and 171st Street (14,300 VPD) and with direct access to Interstate 80 (102,900 VPD).
- ±172,000 residents in a 5-Mile radius with an Average Household Income of ±$130,000 within 1-Mile.
- Rite Aid is currently paying $9.45 /sf in rental rate, which aligns with the local retail rent of $9.50/sf.
- The subject property supports a rent-to-sales ratio of 1.35%.
- Rite Aid restructured its lease, effective November 1, 2023, to remain open and operational throughout the Chapter 11 proceedings.
- Rite Aid has two 5-year options to extend their lease, each with 10% rental increases.
- Rite Aid has operated successfully at this location since 1988, marking over 36 years of continuous operation.
- Signalized corner in the heart of Clio at the cross-section of West Vienna Street (16,199 VPD) and South Mills Street (4,595 VPD).
- 1.5 miles from MI-75 interchange, connecting Canada to the North and Detroit to the South, with approximately 56,000 vehicles per day.
- Downtown Clio location with over 500,000 square feet of retail space within 1 mile of the Subject Property. Other national tenants in the surrounding area include Tim Horton’s, Chase Bank, Walmart Super Center, McDonald’s, Arby’s, Taco Bell, Applebee’s, and Menards.
- Located just 10 miles north of Flint, Michigan, along Interstate 75. Flint is the largest city in Genesee County, with a population of more than 79,000 residents.
- Existing double-lane drive-thru and 76 striped parking spots.
- Rite Aid is currently paying $15.60/sf in rent, which aligns with local retail market rates.
- Rite Aid's rent will increase by 37% in the 1st option period.
- Rite Aid recently restructured its lease, extending its commitment to the property.
- 2 Amazon Fulfillment Centers & Canpack have opened up new facilities in the last 4 years bringing over 900 jobs to the Olyphant economy.
- Rite Aid has operated successfully at this location since 1999, marking over 26 years of continuous operation.
- Positioned at an intersection with over 26,000 vehicles per day, ensuring consistent traffic and exposure.
- Walgreens recently signed a new 15-year lease extension, demonstrating their long-term commitment to the site.
- Strong reported sales of ±$3 million
- The nearest Walgreens property is over 40 miles away, while the next nearest CVS store is more than 74 miles.
- The lease includes 5% rental increases every 5 years in the initial term and options.
- The subject property is 1-mile from Great Plains Regional Medical Center, a 24-hour trauma center serving the greater Western Oklahoma and the Eastern Texas Panhandle.
- Absolute net lease with no landlord responsibilities whatsoever.
- According to Placer.Ai, this Walgreens is the most visited location out of 10 stores in a 30-mile radius.
- This Walgreens is positioned in the main retail corridor in the city with over 2.2 million sf of retail space within a 2-mile radius.
- This Walgreens lease allows for approximately 4% rental increases every 10 years.
- Approximately 2 years ago, Walgreens closed their only other location in the city directing customers to this location for their prescriptions.
- This offering allows an investor the opportunity to assume the existing fully amortizing below market financing at a rate of 5.07%. (See Page 4 of Marketing Package)
- This Walgreens is the only freestanding drugstore serving the city’s market and only Walgreens open until 10pm for over 15 miles.
- This property benefits from its location on a signalized corner with approximately 38,000 VPD and is located just off Interstate 79.
