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Views: 37 DOM: 92 Updated: 05.20.24 Posted: 03.12.24 Status: Active

Summary

Price $5,285,000
Built/Renov 2003
Tenant Walgreens
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 14,500
Lease Start 09-01-2003
#Units 13,532
Price/SF $364.48
Expiration 08-31-2028
Tenant Type Pharmacy
NOI $369,996
R. Term 4.2
Ownership Fee Simple
Rent/SF $25.52
Increases 0.0%/0/yrs
Pop 5Mi 108,020
Lot/AC 2.03
Options 10/5yrs
AHHI 5Mi $88,858

Lease Highlights

  • Walgreens has been operating in this location since 2003
  • The tenant has 4+ years remaining on the current lease term with 10 (5-year) options to extend
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of Reynolda Road and Bethabara Park Blvd, with access to a combined daily traffic count of 35,000 vehicles. The property boasts two points of ingress/egress and is conveniently situated just 2.5 miles from Wake Forest University. Positioned within a dense retail and residential corridor, it is surrounded by...

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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 : 7,099 52,532 116,306
2023 Total Population : 7,123 52,066 113,815
2023 Employed Civilian Pop : 3,366 23,188 50,195
2023 Total Businesses : 183 1,528 3,750
2023 Average Household Income : $ 85,744 $ 92,616 $ 105,206
2023 Total Consumer Spending : $ 218 M $ 1645 M $ 4159 M
2023 Median Age : 34 35 40
2023 Total Households : 2,908 20,429 45,756
2023 Pop Age 25+: Bachelor's Degree : 875 8,417 19,553
2023 Average Home Value : $ 290,003 $ 299,518 $ 329,637
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Yadkinville Road Valley Rd 2022 11,301 0.10 mi
Reynolda Road Yadkinville Rd 2022 19,455 0.10 mi
SR 1525 Reynolda Rd NW 2020 8,300 0.11 mi
Bethabara Park Boulevard Northwest Bethabara Rd NW 2022 9,429 0.42 mi
Valley Road Tangle Ln 2022 1,397 0.51 mi
Old Town Drive Old Town Dr NW 2022 2,798 0.75 mi
Bethabara Park Boulevard Bethania Station Rd 2022 10,108 0.82 mi
Bethabara Road Bethania Station Rd 2022 2,918 0.88 mi
Yadkinville Road Erie Dr 2022 10,820 1.00 mi
Bethania Station Road Bethabara PkBlvd 2022 4,857 1.01 mi

Listing Broker

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