For Sale
$5,000,000

320 Scatterfield Rd Anderson, IN 46012

Anderson, IN: High-Yield Walgreens

Property Records

Overview

Added:
Dec 11, 2024
Days on market:
139
This exceptional investment opportunity presents a 14,418-square-foot Walgreens located at 320 S Scatterfield Rd, Anderson, IN 46012. The property, built in 2004 and situated on 1.38 acres, boasts a prominent location on a high-traffic corridor (24,886 VPD) with excellent visibility. The single-tenant building is leased to Walgreens under an absolute NNN lease with a corporate guarantee, offering minimal landlord responsibilities. The lease, commencing August 1, 2004, has a remaining term of 4.7 years with ten 5-year options. The property features a drive-thru, ample surface parking (55 spaces), and pylon signage. The strong tenant, Walgreens (S&P: BBB), ensures a stable income stream, reflected in the $300,000 NOI and a 6.00% cap rate. The asking price is $5,000,000, translating to $346.79 per square foot. The property's strategic location is further enhanced by its proximity to numerous national retailers, including Dollar General, Advance Auto Parts, and several fast-food restaurants. Its location less than half a mile from Anderson University adds to its appeal. This is a rare opportunity to acquire a stabilized, high-performing retail asset with a long-term, creditworthy tenant. The property offers significant upside potential due to the lease options and strong market fundamentals. The 100% occupancy since August 1, 2004, underscores the property's enduring appeal and consistent performance.

Highlights

  • $5,000,000 asking price for a stabilized, single-tenant Walgreens retail property.
  • Absolute NNN lease with corporate guarantee from Walgreens (S&P: BBB).
  • 14,418 square feet on a 1.38-acre lot with 55 parking spaces, built in 2004.
  • High visibility location with pylon signage, drive-thru, and excellent access.
  • Strong tenant history with 4.7 years remaining on the lease and 10 five-year options.

Property Details for 320 Scatterfield Rd

Property type
Retail properties, Drug stores
Square Feet
14,418 SF
Year Built
2004
Buildings
1
Stories
1
Lot Size (sq. ft)
60,113 SF
Units
1

Location Insight

City
Anderson
County
Madison
State
Indiana
Latitude
40.1124195
Longitude
-85.652077

FAQs

What type of property is this?
Retail property - Anderson, IN: High-Yield Walgreens
Where is the retail property located?
The property is located at 320 Scatterfield Rd Anderson, IN.
What is the asking price?
The asking price for this property is $5,000,000.
What are key features of this property?
This property features: $5,000,000 asking price for a stabilized, single-tenant Walgreens retail property.; Absolute NNN lease with corporate guarantee from Walgreens (S&P: BBB).; 14,418 square feet on a 1.38-acre lot with 55 parking spaces, built in 2004.
How can I contact the broker?
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320 Scatterfield Rd
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