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2920 38th St
Indianapolis, IN 46205

$1,942,000 USD

Drugstore For Sale  •  2,500 SF

Property Details

• Property Type Drugstore
• Total Building Size 2,500 SF
• Year Built 2023
• Cap Rate 6.05 %

41 Transit Score

60 Walk Score

Highlights

New Walgreens Pharmacy Small-Format Prototype Store: Personalized Pharmacy Care Geared Towards Health and Wellness and Over-the-Counter Medications

Long-Term, NNN Lease with Approximately 8.5 Years of Term Remaining and Rare Mid-Term Rental Increase (5/1/2028) Taking Price to 6.35% CAP

Corporately Backed, Single-Tenant Pharmacy Location with High-Profile, Publicly-Traded Walgreens (NASDAQ: WBA/S&P “BBB-”/Moody’s “Baa2”)

No Daily Mgmt: New 2023 Store| Tenant Responsible for All Daily Management | Landlord Responsible for Roof/Structure(15-Year Transferrable Warranty)

High Traffic Location: Approximately 40,000 Vehicles Per Day at N. Keystone Avenue and 38th Street

Ideal Demographics in 29th Largest Metropolitan Economy in the U.S.: High Population Density of 272k+ People & Avg. Household Income $95k in 5 Miles

Property Flyers

Walgreens Indianapolis_MP

Cap Rate:

6.05 %

Major Tenants

Tenant	SF Occupied	Lease End Date
Walgreens (New Prototype Small Format Cooper Model	2,500 SF	5/1/2033

Public Transportation

Commuter Rail	Drive	Walk	Distance
Indianapolis (Cardinal - Amtrak)	12 min	-	6.7 mi
Airport	Drive	Walk	Distance
Indianapolis International	34 min	-	19.7 mi