403 Main StBryan, OH 43506

Property Details for 403 Main St

Year built

1965

Lot size

0.20 AC

Property size (Sq ft)

3,312 SF

Property type

Auto shops

APN

063-170-09-009.000

APU

6317009009000

Description

This exceptional investment opportunity presents a 14,820-square-foot Walgreens located at 403 S Main St, Bryan, OH 43506. The property sits on a 1.93-acre lot in a prime downtown location, experiencing high traffic volume of 10,987 vehicles per day. This absolute NNN lease boasts a corporate guarantee from Walgreens (NASDAQ:WBA), minimizing landlord responsibilities. The current lease, commencing July 31, 2007, and expiring July 30, 2032, has a remaining term of 7.7 years. The lease includes fifty one-year renewal options, providing significant long-term stability. The property's strong financial performance is reflected in its $350,000 net operating income (NOI) and an 8.65% cap rate. The asking price is $4,046,243, translating to a price per square foot of $273.03. This Walgreens is surrounded by complementary businesses and restaurants, further enhancing its value and potential for continued success. The property offers a compelling combination of secure income, minimal management, and significant long-term growth potential. This is a rare opportunity to acquire a well-established, high-performing Walgreens in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $915,699

  6.5%

  $845,260

  7%

  $784,885

• Comparable approach

  Method

  Valuation

  Relative Method

  $164,337

  Geo Method

  $164,337

• Alternative Use

  Use

  Valuation

  Residential

  $713,009

  Hospitality

  $653,112

  Educational

  $543,382

  Medical

  $562,069

  Retail

  $845,260

Location Insight

City

Bryan

County

Williams

State

Ohio

Latitude

41.4787

Longitude

-84.5515

Property Tax & Assessments

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