Walgreens

Highlights:

• Double-Digit 10.00% Cap Rate at an Attractive Price Point – Offered at just $970,000, this investment provides investors with a rare opportunity to acquire a nationally recognized drugstore asset at a compelling basis with an attractive double-digit going-in yield.
• Established Long-Term Drugstore Location Since 1996 – This property has successfully operated as a national drugstore location since 1996, first as Rite Aid and now Walgreens, demonstrating the site's long-term viability, strong customer recognition, and strategic importance within the Kershaw market.
• Landlord Responsibilities: Roof, foundation, structural components, exterior walls, sprinkler system, utility lines located outside the premises, and landlord-furnished HVAC equipment.
• Tenant Responsibilities: General interior maintenance and repair of the premises, including routine upkeep, plate glass replacement (except where caused by the landlord), ordinary maintenance of the heating and air conditioning systems, and all repairs and maintenance associated with tenant-installed equipment.
• All tenant maintenance and repairs are required to be performed by qualified professionals in a good and workmanlike manner.
• Walgreens – One of the Nation's Leading Pharmacy Retailers – Walgreens is one of the largest pharmacy chains in the United States, operating thousands of locations nationwide while providing prescription services, healthcare products, and essential retail goods that generate consistent daily consumer traffic.
• Strong Built-In Rental Growth – Annual base rent remains at $97,000 through November 2031, then increases 44.2% to $139,884, followed by another increase to $145,560 in 2036, creating significant built-in NOI growth over the remaining lease term.
• Passive Investment with Minimal Landlord Responsibilities – The tenant is responsible for taxes, insurance, and CAM, providing investors with a passive ownership structure.
• Bite-Sized Investment Opportunity – The sub-$1 million purchase price offers an attractive entry point for private investors, family offices, and 1031 exchange buyers seeking stable income backed by a nationally recognized retailer.
• Prime Hard-Corner Location in the Heart of Kershaw – Situated on 1.22 acres at a signalized intersection, the property benefits from outstanding visibility, convenient access, and consistent traffic exposure along South Hampton Street and East Third Street.
• Surrounded by Numerous National Retailers – The property is positioned within Kershaw's primary retail corridor and benefits from strong retail synergy generated by nearby national retailers including O'Reilly Auto Parts, Dollar General, Dollar Tree, Subway, Exxon, Shell, Bojangles, and numerous other established retailers and service providers.

Description:

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Kershaw is a town in Lancaster County, South Carolina, located in the northern Midlands region approximately 35 miles northeast of Columbia and about 70 miles south of Charlotte. Positioned along U.S. Highway 521, Kershaw serves as an important local commercial and residential hub within Lancaster County and benefits from access to two major Southeastern metropolitan markets. At the 2020 census, Kershaw had a population of approximately 1,800 residents, while the broader Lancaster County area continues to experience steady population and economic growth driven by regional expansion from both the Columbia and Charlotte markets.

Kershaw’s economy is supported by a diverse mix of manufacturing, agriculture, health care, retail, and service industries. Historically rooted in textiles and industrial production, the town remains closely tied to manufacturing and distribution activity throughout the region. Major employers in and around Kershaw include Haile Gold Mine, one of the largest operating gold mines in the eastern United States, as well as regional manufacturers, logistics operators, and agricultural businesses. These industries provide a stable employment base and continue to support long-term economic activity in the area.

The broader regional economy is enhanced by South Carolina’s strong business climate and continued industrial investment. Major employers throughout the surrounding region include manufacturing, automotive, aerospace, and distribution companies that benefit from South Carolina’s transportation infrastructure and pro-business environment. Nearby educational institutions, medical facilities, and workforce development programs also contribute to economic stability and long-term growth.

With its strategic location between Columbia and Charlotte, stable industrial base, and access to growing regional employment centers, Kershaw remains a well-positioned market within South Carolina. Continued investment in infrastructure, business development, and regional population growth supports Kershaw’s long-term outlook as an emerging small-town market with strong connectivity to major Southeastern economic hubs.

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