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Views: 67 DOM: 124 Updated: 07.31.24 Posted: 07.31.24 Status: Active

Summary

Price $3,858,000
Built/Renov 2008
Tenant Walgreens
Cap Rate 8.65%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,741
Lease Start 05-12-2008
#Units 13,532
Price/SF $261.72
Expiration 05-31-2033
Tenant Type Pharmacy
NOI $333,680
R. Term 8.6
Ownership Fee Simple
Rent/SF $22.64
Increases 0.0%/0/yrs
Pop 5Mi 15,516
Lot/AC 2.17
Options 50/1yrs
AHHI 5Mi $65,558

Lease Highlights

  • Walgreens has been operating in this location since 2008
  • The tenant has 8+ years remaining on the current lease term with 50 (1-year) options to extend
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard-corner intersection of North Bridge Street and Oakland Drive, with access to a combined daily traffic count of 10,400 vehicles. The property is situated just over half a mile from Hugh Chatham Memorial Hospital and within 1.5 miles of a Walmart Supercenter, Lowe’s, Belk, Ingles Markets, Food Lion, Aaron’s, and more. The 5-mile trade...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Walgreens
  • Guarantor:Corp T and Rated
  • Company:Walgreens Boots Alliance
  • # Units:13,532
  • Tenant S&P: BBB-
  • Moody’s: Baa2
  • Stock: NASDAQ: WBA

About Tenant

Walgreens is an American company that operates the second-largest pharmacy store chain in the United States. It specializes in filling prescriptions, health and wellness products, health...


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Demographics

  1 Miles 3 Miles 5 Miles
2029 Total Population : 2,271 9,022 15,167
2024 Total Population : 2,264 9,048 15,202
2024 Employed Civilian Pop : 1,140 4,459 7,259
2024 Total Businesses : 210 615 745
2024 Average Household Income : $ 70,416 $ 70,188 $ 75,095
2024 Total Consumer Spending : $ 61 M $ 245 M $ 444 M
2024 Median Age : 47 45 46
2024 Total Households : 992 3,898 6,563
2024 Pop Age 25+: Bachelor's Degree : 324 1,051 1,637
2024 Average Home Value : $ 291,871 $ 240,701 $ 237,543
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
North Bridge Street Forest Hill Dr 2021 9,728 0.05 mi
North Bridge Street 2019 10,500 0.15 mi
North Bridge Street E Highland Ave 2018 9,400 0.15 mi
Claremont Drive Hill St 2021 2,699 0.27 mi
CC Camp Road Lyles St 2021 14,741 0.45 mi
North Bridge Street Collins Rd 2018 9,100 0.46 mi
North Bridge Street 2019 9,600 0.46 mi
CC Camp Rd Lyles St 2004 7,900 0.50 mi
US 21 BUS Triangle Ln 2021 9,271 0.54 mi
N Elkin Dr 2021 1,087 0.62 mi

Listing Broker

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