Investment Opportunity- 8.47% CAP Rate - Henderson, KY

517 N Green St, Henderson, Kentucky 42420

  • Property Subtypes Free-Standing Building
  • Building Size (RSF) 11,310 SF
  • Gross Building Area 11,310 SF
  • Building Name Rite-Aid
  • Building Status Existing
  • Sale Price $1,890,000.00 Total
  • Unit Price $167.11 per SF
  • Property Use Type Net Leased (NNN)
  • Class of Space N/A
  • Total Land Size 1.2 Acres
  • Sale Terms Cash to Seller
  • Cap Rate Undisclosed
  • Last Updated 8/1/2019
  • Days on Market 185 Days
  • Status active

Overview / Comments

Listed at at 8.47% CAP Rate, this high yield investment allows room to grow. There are five (5) years remaining on the lease term, plus four (4), five (5) year options. Each rental renewal period increases 10%. Rite-Aid has been operating in this location since 1997 and recently agreed to a new five-year lease term. The lease is corporately guaranteed by Walgreens Corporation. The lease structure is triple Net (NNN) with no Landlord responsibilities. Well-maintained block construction helps to alleviate deferred maintenance in the future.

Additional Details

  • Tax ID/APN 1-18-2-3
  • Zoning Commercial
  • Property Visibility Excellent
  • Total Number of Buildings 1
  • Number of Stories 1
  • Year Built 1996
  • Tax Auth Henderson, KY

Current Tenants

  • Tenant Business Name Rite-Aid

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