Lucky's Market - Tallahassee, FL
US - Tallahassee, FL
A$18,280,000 | 5,079 m²
Asset Description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale the opportunity to acquire the fee-simple interest in a Walgreens located at 3800 Tippecanoe Rd, Youngstown, OH (the “Property” or “Asset”). The Property is located in central Youngstown with more than 128,000 residents within a 5-mile radius. In 2022, Youngstown Ohio was voted the #2 Best Place to Live in Ohio and the #62 Best Place to Live in the U.S. (U.S. News & World Report in 2023).
The Property is less than five-miles from Youngstown State University, a 160-acre campus with over 12,750 students enrolled. The Property benefits from proximity to Mercy Health - St. Elizabeth Youngstown Hospital, a Level 1 Trauma Center and Primary Stroke Center with 409-beds, 341+ physicians, and 75 specialties serving the Greater Youngstown-Warren metro area.
Upon close of Escrow, Walgreens will execute a brand new 15-year absolute NNN lease with 5% rent escalations every five years throughout the primary term and renewal option periods.
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Attributes
Asking Price
A$6,783,000
Building area Net
1,346 m²
Occupancy
100.00%
Year built
2006
Cap Rate
5.65%
NOI
A$384,000
Media
Investment Highlights
- Brand new 15-year Absolute NNN lease with no landlord responsibilities
- 5% Annual rent bumps every 5-years
- High performing location wtih $4M reported gross sales (excluding RX)
- Ranked as the second best city to live in Ohio
- Proximate to Youngstown State University
- Nearby Level 1 Trauma Center Mercy Health - St. Elizabeth Youngstown
- Over 127,000 residents within a 5-mile radius
Contact brokers
Walgreens - Youngstown, OH (0 Properties)
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Last updated
12 Sep 2023
