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Views: 119 DOM: 296 Updated: 10.18.24 Posted: 02.20.24 Status: Active

Summary

Price $4,212,500
Built/Renov 2008
Tenant Walgreens
Cap Rate 8.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,634
Lease Start 06-01-2008
#Units 13,532
Price/SF $287.86
Expiration 05-31-2033
Tenant Type Pharmacy
NOI $337,000
R. Term 8.5
Ownership Fee Simple
Rent/SF $23.03
Increases 0.0%/0/yrs
Pop 5Mi 24,975
Lot/AC 2.76
Options 0/0yrs
AHHI 5Mi $73,709

Lease Highlights

  • Walgreens has been operating in this location since 2008
  • The tenant has 8+ years remaining on the current lease term
  • The lease features 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 Carolina Highway 27 and East Main Street, a main retail corridor, with access to a combined daily traffic count of 34,510 vehicles. The property is surrounded by well-known national tenants such as ALDI, Lowe's, Harbor Freight, Tractor Supply, Ingles, Chick-Fil-A, and more. The 5-mile trade area is...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

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
2028 Total Population : 3,622 15,453 25,132
2023 Total Population : 3,523 15,258 24,975
2023 Employed Civilian Pop : 1,427 6,290 10,286
2023 Total Businesses : 329 1,004 1,271
2023 Average Household Income : $ 66,317 $ 71,723 $ 73,709
2023 Total Consumer Spending : $ 87 M $ 404 M $ 651 M
2023 Median Age : 42 41 42
2023 Total Households : 1,485 6,380 10,013
2023 Pop Age 25+: Bachelor's Degree : 312 1,440 2,294
2023 Average Home Value : $ 281,845 $ 235,364 $ 226,005
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
NC 740 E Main St 2020 10,500 0.08 mi
NC 740 E Main St 2021 11,500 0.10 mi
State Hwy 24 Bird Rd 2018 18,000 0.16 mi
NC 24;NC 27;NC 73 Bird Rd 2021 19,000 0.17 mi
E Main St Barnard St 2018 15,000 0.27 mi
Northeast Connector Badin Rd 2019 7,600 0.28 mi
Badin Road 1650 2021 2,300 0.29 mi
1650 2021 6,000 0.30 mi
State Hwy 740 Woodhaven Dr 2018 5,000 0.31 mi
Badin Road 1650 2019 2,600 0.36 mi

Listing Broker

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