For Sale
$4,260,000

1090 Northview DrHillsboro, OH 45133

High-yield Walgreens, Ohio. 8.5 years remaining.

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional investment opportunity presents a fee-simple, 14,749 square foot Walgreens located in Hillsboro, Ohio. The property boasts a prime, signalized hard-corner location on Northview Dr (US Hwy 62), benefiting from high visibility and excellent access with 15,800 vehicles per day. This Class B retail building, constructed in 2007, sits on a 1.55-acre lot and includes 49 parking spaces. The property is an outparcel to Burkes Outlet Center and across from a Dunham's Sports-anchored center, further enhancing its strategic positioning. The absolute NNN lease with Walgreens, a credit-rated tenant with a corporate guarantee, offers significant long-term stability. With approximately 8.5 years remaining on the 25-year lease (expiring 09/30/2032), this investment provides a predictable cash flow. The current NOI is $368,500, resulting in an attractive 8.65% cap rate. The asking price is $4,260,000. Ten, 5-year lease options provide additional long-term security. The property's strong location is complemented by nearby amenities including a planned Marriott hotel, Southern State Community College, and numerous national retailers such as Lowe's, Walmart, and Kroger. This is a rare opportunity to acquire a high-performing, passively managed retail investment with substantial upside potential.

Highlights

  • Long-term, passive investment opportunity with approximately 8.5 years remaining on a triple-net lease.
  • Hard-corner, signalized location with drive-thru access.
  • Across from a shopping center anchored by Dunham's Sports, with Burger King and Taco Bell.
  • Proximity to Highland District Hospital, a 25-bed acute care facility.
  • Outparcel to Burkes Outlet and Healthsource Hillsboro Pediatrics.
  • Within one mile of a planned Marriott Hotel with 83 rooms and a 30,000 square foot retail plaza.

Property Details for 1090 Northview Dr

Property type
Retail properties, Drug stores
Square Feet
14,749 SF
Class
B
Year Built
2007
Buildings
1
Lot Size (sq. ft)
67,518 SF
Units
1

Location Insight

City
Hillsboro
County
Highland
State
Ohio
Latitude
39.2194324
Longitude
-83.6073198
1090 Northview Dr, Hillsboro, Ohio

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1090 Northview Dr
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