Walgreens – Oak Hill, WV

Walgreens
1201 Main St E, Oak Hill, WV 25901, USA

Sands Investment Group is pleased to present the exclusive offering of a ±11,180 SF Walgreens NN Asset located in Oak Hill, WV. This property features a double net (NN) lease with minimal landlord responsibilities and a dependable passive income stream. Originally constructed for Rite Aid and fully converted by Walgreens in 2018, they invested over $300,000 in capital improvements, underscoring their long-term commitment to the site. The lease includes four 5-year renewal options, each with scheduled rental increases. Strategically positioned along Oak Hill’s primary commercial corridor and surrounded by regional medical facilities, national retailers, and community amenities, the property benefits from steady traffic and consistent prescription demand. This offering presents an excellent opportunity to acquire a high-performing, net-leased property with strong fundamentals, minimal management, and durable long-term upside.

  • Proven Location: Walgreens assumed operations from Rite Aid in 2018, investing approximately $300,000 in conversion costs; the building features a drive-thru pharmacy and excellent corner visibility at a signalized intersection.
  • Surrounding Demand Drivers: Strategically located near US Highway 19 (24,535 VPD), Oak Hill High School, Fayette Institute of Technology, and National Retailers, including Tractor Supply, McDonald’s, Dollar Tree, and Advance Auto Parts.
  • Strategic Rightsizing Driving Performance: Walgreens has closed a number of stores as part of a strategic rightsizing initiative; as a result, average visits per location have increased for 3 straight quarters, signaling stronger performance and enhanced traffic at remaining sites.
  • Exceptionally Low Rent: 95th percentile nationwide with a current rent of $14.67 per sf, this store ranks in the 95th percentile for lowest rent among all Walgreens locations nationwide, offering significant downside protection.
  • Averages 10,041 Visits Per Month: Placing it in the 85th percentile for foot traffic among all Walgreens in West Virginia—a strong indicator of sustained demand and tenant performance.

 

In Cooperation With Sands Investment Group West Virginia, LLC – Lic. #010212-00 BoR: Tom Gorman – Lic. WV #WVB23030087

Walgreens
1201 Main St E, Oak Hill, WV 25901, USA

WALGREENS

Founded in 1901, Walgreens (www.walgreens.com) has a storied heritage of caring for communities for generations, and proudly serves nearly 9 million customers and patients each day across its approximately 8,500 stores throughout the U.S. and Puerto Rico, and leading omni-channel platforms. Walgreens has approximately 220,000 team members, including nearly 90,000 healthcare service providers, and is committed to being the first choice for retail pharmacy and health services, building trusted relationships that create healthier futures for customers, patients, team members, and communities. Walgreens is the flagship U.S. brand of Walgreens Boots Alliance, Inc. (Nasdaq: WBA), an integrated healthcare, pharmacy, and retail leader. Its retail locations are a critical point of access and convenience in thousands of communities, with Walgreens pharmacists playing a greater role as part of the healthcare system and patients’ care teams than ever before. Walgreens Specialty Pharmacy provides critical care and pharmacy services to millions of patients with rare disease states and complex, chronic conditions.

Price

$1,682,051

Cap Rate

9.75%

PREMISES

11,180 SF

RENEWAL OPTIONS

4 x 5 Year Options

Lease Expiration

02/28/2029

Lease Type

NN

RENTAL INCREASES

$1 PSF at Each Option

BROKERS

Tom Gorman
Philadelphia

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