Cooper Style Walgreens in Munfordville, KY
1006 Main St, Munfordville, KY, USA Map
Listing Price $1,759,259
| Status | Closed |
| Lease Type | Absolute Net |
| Property Type | Retail |
| CAP Rate | 5.4% |
| GLA (Sq. Ft.) | 2,500 |
| NOI | $95,000 |
| Lease Term Remaining | 10 Years |
| Increases | 5% in year 6, 7.5% in each option |
| Options | 4 x 5 Years |
| State (BOR) | KY |
| Broker of Record | Colby Haugness |
| License # (BOR) | 242197 |
| Close Date | Mar 24, 2023 |
Investment Highlights
- Subject is a Prime “Cooper Style” 2,500 Square Foot Build-to-Suit Walgreens on with Ample Parking, Pylon Signage, and Easy Ingress/Egress
- Absolute NNN Lease with a 10-Year Base Term and Zero Landlord Responsibility | Rent Escalation Every 5 Years, 4 x 5-Year Options
- Robust Traffic Counts on Main St (8,958 VPD),and a Mile off of US-65 (48,207 VPD) (Source:LandVision, CoStar, 2022)
- Investment-Grade Credit Tenant Walgreens BootsAlliance (NASDAQ: WBA) has a Long-Term StableCredit Rating of Baa2 (Stable) from Moody’s and Investment Grade Rating of BBB (Stable) from S&P
- Thriving Community with an Average Household Income of Over $58,030 and Population of
67,728 Within Twenty Miles of the Subject Asset, as of 2022 - Subject is 60 Miles from Louisville International Airport, Serving 4.2 Million Passengers Annually (flylouisville.com)
- Mammoth Cave National Park is Nearby, Totalling 52,830 Acres. The Park Contains the Mammoth Cave System, the Largest Cave System in the World
- Subject is 60 Miles from Downtown Louisville with a Population of 628,594
