Henderson, KY

Properties Details

This is a NNN building Leasehold Walgreens that is a former Rite Aid. The lease was reassigned in 2019 to Walgreens Corporate at which time they decided to convert the location into a Walgreens which costs approximately $300,000 to rebrand. Walgreens pays the ground lease directly and the ground lease is coterminous with the Walgreens lease.

There are eight five year renewal options with 10% increases every ten years. If Walgreens decides not to renew their options the owner of the leasehold can re-tenant their interest in the real estate.

Property Highlights

  • Price: $1,597,000
  • Cap Rate: N/A
  • Lease Type: Leasehold NNN
  • Lease Expiration: 3/31/2026
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