loader
Join Free
DOM: 198 Updated: 01.08.24 Posted: 06.02.23 Status: Sold 12.18.23

Summary

Price $5,160,000 $5,348,217
Built/Renov 2004
Tenant Walgreens
Cap Rate 6.22% 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 13,813
Lease Start 12-15-2004
#Units 8,896
Price/SF $373.56 $387.19
Expiration 12-31-2034
Tenant Type Pharmacy
NOI $320,893
R. Term 9.7
Ownership Fee Simple
Rent/SF $23.23
Increases 2.0%/11/yrs
Pop 5Mi 102,840
Lot/AC 2.58
Options 2/5yrs/2%
AHHI 5Mi $74,314

Lease Highlights

  • Walgreens assumed the lease from Rite Aid in 2018 and extended it through May 2034
  • There are 2 (5-year) options to extend with rental escalations in each
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporately guaranteed lease
  • Walgreens is an investment grade tenant (S&P: BBB)

Location Description

The 13,813 square-foot building benefits from its position at the signalized intersection of Raeford Road and Cliffdale Road which experiences over 21,000 vehicles per day and is a primary thoroughfare leading to downtown Fayetteville. The site is equipped with a drive-thru for customer ease and access. The subject Walgreens property is surrounded by several nationally recognized retailers...

...

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Walgreens
  • Guarantor:Corp T and Rated
  • Company:Walgreens Boots Alliance
  • # Units:8,896
  • Tenant S&P: BBB
  • Moody’s: Baa3
  • 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...


...

Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 4,769 37,371 103,414
2023 Total Population : 4,863 37,669 102,925
2023 Employed Civilian Pop : 1,824 14,532 39,487
2023 Total Businesses : 176 569 1,457
2023 Average Household Income : $ 84,863 $ 87,731 $ 80,295
2023 Total Consumer Spending : $ 135 M $ 1041 M $ 2722 M
2023 Median Age : 33 33 33
2023 Total Households : 1,865 13,798 39,231
2023 Pop Age 25+: Bachelor's Degree : 466 4,908 13,944
2023 Average Home Value : $ 191,167 $ 202,221 $ 204,809
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Cliffdale Rd Gallant Ridge Dr 2018 14,000 0.06 mi
Raeford Rd Ferndell Dr 2004 7,100 0.16 mi
Raeford Rd Cliffdale Rd 2008 21,000 0.17 mi
Ferndell Dr Raeford Rd 2008 380 0.17 mi
S Raeford Rd Gillis Hill Rd 2008 19,000 0.46 mi
Acacia Dr Raeford Rd 2008 1,000 0.46 mi
Acacia Dr Hazelwood Ave 2008 890 0.46 mi
Rim Rd Sandra St 2006 7,100 0.65 mi
Gillis Hill Rd S Raeford Rd 2018 15,500 0.70 mi
Sykes Pond Rd Dunholme Dr 2008 680 0.71 mi

Listing Broker

Loading...
Disclaimer & Confidentiality
All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT

GET IN TOUCH

my activity