2005 Centennial BlvdIndependence, KY 41051

Property Details for 2005 Centennial Blvd

Year built

2008

Lot size

2.11 AC

Property size (Sq ft)

14,820 SF

Property type

Drug stores

APN

047-00-02-001.00

APU

47000200100

Description

This exceptional investment opportunity presents a single-tenant, absolute NNN leased Walgreens property located at 2005 Centennial Boulevard, Independence, Kentucky 41051. The property boasts a 7.5-year remaining lease term on a 2.11-acre parcel, featuring approximately 50 parking spaces and a single-lane drive-thru. Built in 2008, this 1-story, 1-building retail space enjoys 100% occupancy and a strong 7.50% cap rate. The asking price is $3,825,320, translating to a land value of $258 per square foot. The property benefits from its established location with a 17-year operating history and is surrounded by a vibrant retail environment including McDonald's, Chipotle, Taco Bell, Wendy's, Papa John's, Starbucks, Ace Hardware, Buffalo Wild Wings, and Sherwin-Williams. Conveniently located near Aldi and Kroger grocery stores, and within proximity to multiple medical clinics and Simon Kenton High School, this property serves a high-income demographic with an average household income of $120,068 within a 3-mile radius. The property's strong tenant, favorable lease terms, and prime location make it an attractive investment opportunity with minimal landlord responsibilities. This is a Net Lease (NNN) investment with no landlord responsibilities.

• CAP approach

  CAP return

  Valuation

  6%

  $2,141,256

  6.5%

  $1,976,544

  7%

  $1,835,362

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,638,050

  Geo Method

  $4,638,050

• Alternative Use

  Use

  Valuation

  Residential

  $1,667,289

  Hospitality

  $1,527,228

  Educational

  $1,270,636

  Medical

  $1,314,335

  Retail

  $1,976,544

Location Insight

City

Independence

County

Kenton

State

Kentucky

Latitude

38.9296

Longitude

-84.5444

CBSA code

17140

CBSA name

CINCINNATI-MIDDLETOWN, OH-KY-IN METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].