Meridian Road Walgreens, Its Lease Sell for $5.5M
AUSTINTOWN, Ohio – The Walgreens near the intersection of Meridian Road and Mahoning Avenue has been purchased by a couple from Dallas for $5.48 million.
Hai K. and Mai P. Nguyen bought the property and the lease at 40 N. Meridian Road from Merchandise Inc., which had owned it since 2009 after buying it for $4,237,500. In 2018, the Mahoning County Auditor’s Office valued the property at $1.48 million.
The building sits on 1.714 acres and is 1,128 square feet. According to the Ohio Department of Transportation, the Meridian-Mahoning intersection saw an average of 14,766 vehicles per day last year.
A Google search for the new owners turned up limited results. The address listed on the real property conveyance fee statement is a private residence in Dallas.
The previous owner, Merchandise Inc., is based in the Cincinnati suburb of Miamitown. Founded in 1963, it is a wholesale distributor of health-care products, cosmetics and general merchandise.
Image via Anthony92931 / CC BY-SA
Copyright 2023 The Business Journal, Youngstown, Ohio.