68 west us hwy 22 & 3, maineville, ohio 45039€¦ · nnn lease – no landlord...
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$5,528,500| Investment Details
Truly passive investments offering a 25 year true NNN lease – no landlord responsibilities (13.6 years remaining on base term)
Landlord friendly lease offering attractive ten 5-year options, unlike the newer lease structure
The location offers a double drive thru on an oversized corner lot of 2.19 acres
Affluent growing suburban community with average household income exceeding $105,010 within one mile from site
68 West US Hwy 22 & 3, Maineville, Ohio 45039
File photo
Overview
Price $5,528,500
Gross Leasable Area (Estimate) 14,820
Lot Size 2.19 Acres
Year Built 2006
Net Operating Income $340,000
CAP Rate 6.15%
Price Per Square Foot $373.04
Lease Abstract
Lease Type Absolute NNN
Original Lease Term 25 years
Lease Start (estimate) 09/26/2006
Lease Expiration (estimate) 09/30/2030
Renewal Options 50x1
Increases Percentage Rents
Roof and Structure Tenant
THE OFFERING
TENANT OVERVIEWCompany ProfileTenant Trade Name Walgreens Boots Alliance, Inc.
Ownership Public
Revenue $103.44(Bil)
Lease Guarantor $30.86(Bil)
No. of Locations 13,700 +/-
Headquarters Deerfield, IL
Website www.Walgreens.com
Walgreens Boots Alliance, Inc. operates as a pharmacy ledhealth and well being company. The company operatesthrough three segments: Retail Pharmacy USA, RetailPharmacy International, and Pharmaceutical Wholesale. TheRetail Pharmacy USA segment sells prescription drugs and anassortment of general merchandise, convenience foods, andmore through its retail drugstores and convenient careclinics. It also provides specialty pharmacy services; andmanages in-store clinics under the brand Healthcare Clinic.
As of August 31, 2016, this segment operated over 13,700retail stores under the Walgreens and Duane Reade brandsin the United States; 7 specialty pharmacy locations;managed approximately 400 Healthcare Clinics. The RetailPharmacy International segment sells prescription drugs; andhealth, beauty, toiletry, and other consumer productsthrough its pharmacy led health and beauty stores, as well asthrough boots.com and BootsWebMD.com.
The Boots segment operated 4,673 retail stores under theNo. 7, Boots Pharmaceuticals, Botanics, Liz Earle, Soap &Glory, and only at Boots brand names in the United Kingdom,Mexico, Chile, Thailand, Norway, the Republic of Ireland, theNetherlands, and Lithuania; and 636 optical practices in theUnited Kingdom. Walgreens Boots Alliance, Inc. was foundedin 1901 and is based in Deerfield, Illinois.
Population 1-Mile 3-Mile 5-Mile
2016 5,941 31,039 68,860
2021 7,489 36,921 78,402
2016 Household Incomes
1-Mile 3-Mile 5-Mile
Average $105,010 $104,242 $111,160
Maineville, OhioMaineville, Ohio is a village in Warren County. In the truest sense of the word, this village is made up of homes and families and is slightly smaller than a town and is an oasis among a surrounding rural community. The subject site is located on the NWC of US HWY 22 & SR 48. This predominantly affluent bedroom community is home to several primary grade schools, lite industrial manufacturing and limited national retailers, further facilitating the sentiment of small town America.
National retail in the immediate area includes: PNC Bank, Advance Auto, United Dairy farmers, Bowling Carpets, CVS, Tire Discounters, Gold Star Chili, AutoZone, Wendy's and Krogers.
The community is also home to River's Bend Dental Clinic, Cincinnati Eye Institute, Sinclair Community College, and Maineville Family Physicians Offices/Clinic. The Urgent Care Clinic is located across the street from the site.
Maineville got its name because its original settlers were from the State of Maine. Located just south of Cincinnati, it was rated by Sperling Magazine as being one of the best places to live in America, where the unemployment rate is 4.60% (national average is 6.30%), job growth in the immediate area has grown by 3% since 2013, and the cost of living in Maineville is 4.30% lower than the national average and continues to grow in population (75% in the last 5 years). 27% of the population works in management or engineering (predominantly a professional based community) with young growing families.
Majority of working adults in Mainveville commute to Cincinnati which is just 27-minutes south. ]
Sevak KeshishianTHE SK GROUPFirst Vice President InvestmentsDirector National Multi-Housing GroupTel: (818) [email protected]: CA #01887505
P r e s e n t e d B y
68 West US Hwy 22 & 3, Maineville, Ohio 45039
Lior RegenstreifSenior Managing Director InvestmentsSenior Director, Net Leased Properties GroupTel: (818) 212.2730Fax: (818) [email protected]: CA #01267761
Janette MonfaredFirst Vice President investmentsDirector of Multi Family HousingTel: (818) [email protected]: CA # _____________