411 Stockton StEdmonton, KY 42129

  • Retail properties
  • 2,500 SF
For Sale
$1,738,000 View listing

Property Details for 411 Stockton St

Year built
2023
Lot size
0.70 AC
Property size (Sq ft)
2,500 SF
Property type
Retail properties
Property subtype
Other retail properties

Description

This exceptional investment opportunity presents the fee simple ownership of a newly constructed (2023), 2,500 square foot Walgreens pharmacy in Edmonton, Kentucky. The property boasts a prime location on a signalized intersection of Stockton and Main Streets, benefiting from high daily traffic volume (15,900 vehicles). This absolute NNN lease with Walgreens, a corporate guarantor (S&P: BBB-), offers 8.5+ years remaining on the initial term, followed by four 5-year options. Rent increases of 5% every 5 years throughout the initial term and options provide built-in inflation protection and growing net operating income (NOI). The property features a drive-thru and is situated near other strong national and regional tenants, including Dollar General Market and ACE Hardware, ensuring consistent customer traffic. The surrounding area includes numerous residential communities, providing a substantial local consumer base. The 0.7-acre lot includes 23 parking spaces. The property's strong demographics, including over 4,600 residents and 1,600 daytime employees within a 5-mile radius, and an average household income of $50,152, further enhance its investment appeal. The asking price is $1,738,000, representing a 6.25% cap rate and a price per square foot of $695.20. The property's NOI is $108,600. This is a low-management, passive investment opportunity with significant long-term potential. The APN is 104-00-01-008.02. The permitted zoning is commercial.

411 Stockton St, Edmonton, Kentucky

Location Insight

City
Edmonton
County
Metcalfe
State
Kentucky
Latitude
36.9796
Longitude
-85.6175

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