Walgreens | Absolute Triple Net Lease

419 West Broad Street, Saint Pauls, NC

   SOLD!   

$3,665,000

Price

7%

Cap Rate

$256,555

NOI

Overview
Cap Rate
7%
NOI
$256,555
Building Size
9,804 sqft
Lot Area
1.03 acres
Lease Type
Absolute Net
Year Built
1999
Price Per Sqft
$373.83
Description

Sands Investment Group is Pleased to Exclusively Offer For Sale the 9,804 SF Walgreens Located at 419 W Broad Street in Saint Pauls, NC. The Deal Includes Approximately 4 Years Remaining on an Absolute Triple Net Lease With 5 % Increases in Each Option Period. This Property Provides a New Owner With an Opportunity to Purchase an Essential Business With Investment Grade Tenant (S&P: BBB) and Corporate Guarantee in a Strong Performing Location. The Next Closest National Drugstore Operator is More Than 15- Miles Away.

Highlights
  • The Deal Includes an Absolute Triple Net (NNN) Lease Which Allows For a True Passive Investment and Zero Landlord Responsibilities
  • Above Average Sales For This Walgreens Concept
  • Complete Walgreens Conversion Which Shows Commitment to the Site
  • Full-Service Location With Drive-Thru; The Store Offers Curbside Pickup and Delivery
  • Zero National Competition Within a 15-Mile Radius
  • Investment Grade Tenant (S&P: BBB) With Corporate Guarantee
  • Multiple 5 Year Options to Extend With Fixed Increases o f 5% , Providing Landlord Leverage Upon Renewal
  • Signalized Access With Excellent Visibility on Route 301 Which Sees Over 6 ,629 VPD
  • Strong Guarantor – Walgreen Co. a Subsidiary o f Walgreens Boots Alliance Inc. (NASDAQ: WBA) Reported Total Revenues in Excess of $139 Billion in the 2020 Fiscal Year
  • The Property is Situated Less Than 10-Miles From the Master Planned Hope Mills Industrial Park Which is Currently Being Developed and Will Consist of Over 1.3 Million SF of New Warehouse Product Along I -95, Providing an Economic Anchor in the Trade Area
  • Nearby Tenants Include: AutoZone, Hardee’s, Pizza Hut, Burger King, Food Lion, Days Inn, Taco Bell, Family Dollar, Walmart Neighborhood and More
Documents

Location
Gallery