Walgreens 1223 Cleveland Ave NW Local commercial 1 292 m² À vendre Canton, OH 44703 2 387 928 € (1 848,50 €/m²) Taux de capitalisation 8,75 %

Marcus & Millichap, on behalf of ownership as its exclusive advisor, is pleased to bring to market Walgreens in Canton, Ohio. The subject property is a 13,905-square-foot freestanding drug store built in 1997 on 2.75 acres. In 2013, the Landlord and Tenant agreed to extend the initial term of the lease for an additional 13 years. Walgreens now has 4.75 years remaining on their lease which is expiring on February 28, 2030. The tenant has eight, five-year renewal options proceeding the initial term. The building is prototypical all-brick construction with ample parking and a drive-thru, and is highly accessible with five curb cuts alone three roads. Walgreen Boots Alliance is publicly traded on the NYSE under ticker “WBA,” with 2024 revenue of over $147 billion. Walgreens Boots Alliance currently operates more than 8,300 retail pharmacies worldwide and carries S&P “BB-” investment-grade credit. Walgreens has agreed to be acquired by private equity firm Sycamore Partners in a deal valued at approximately $10 billion, or $11.45 per share. The transaction, expected to close in the fourth quarter of 2025, will take Walgreens private, aiming to facilitate a turnaround strategy away from public market pressures.
The lease is double net with the Landlord primarily responsible for the roof and structure and Tenant responsible for parking lot maintenance (resurfacing, patching, sealing and striping), common area maintenance, direct payment of real estate taxes and insurance and all utilities. Other Landlord responsibilities also include replacement of the light poles, parking areas or any items which under generally accepted accounting principles consistently applies as pertaining to the real estate industry are classified as capital expenses.
Walgreens is located at the three-way intersection of Cleveland Ave, 12th St and McKinley Ave which sees over 37,512 cars per day. The property is located just a half mile from downtown Akron and a short walk from both the Canton Memorial Civic Center and Canton Museum of Art.