Walgreens: Chapel Hill, NC
Retail | 6.50% CAP | 15,990 SqFt
Marketing description
The CBRE Net Lease Property Group is pleased to offer for sale the 15,990-square-foot Walgreens situated on 1.52 acres in Chapel Hill, North Carolina (MSA Population: 620,668). Operating since 2016, Walgreens’ absolute NNN lease features ±10.5 years of term remaining and fifty-five, one-year renewal options.
Investment highlights
Absolute NNN Lease: Operating since 2016, Walgreens absolute NNN lease features ±10.5 years of primary term remaining and fifty-five, one-year renewal options.
Strong Performer: This Chapel Hill store is a strong performer with above-average sales.
Excellent Access & Visibility: Located just 4.3 miles north of downtown Chapel Hill, Walgreens is positioned with excellent access and visibility along M.L.K. Jr Boulevard (23,000 VPD), feet from its signalized intersection with Weaver Dairy Road (15,000 VPD). Additionally, the site less than a mile south of the on-ramp to Interstate 40 (73,500 VPD)—the longest Interstate highway in North Carolina that spans the entire state from east to west and connects cities like Raleigh, Greensboro, Durham and Winston-Salem.
Strategic Location | Part of Weaver Crossing Center: The property is strategically located as part of Weaver Crossing, a 3.29-acre medical and retail development that is also home to UNC Health (Pediatrics, Orthopedics, Internal Medicine and OB-GYN services). UNC Health is one of the largest employers in the area and anchors the healthcare industry in Chapel Hill. Furthermore, Walgreens is feet from Timberlyne Village (112,925 SF), a Food Lion-anchored shopping center that is further tenanted by Town & Country Hardware, Orangetheory, CrossFit Chapel Hill, USPS, Subway, and the 3-screen Chelsea Theater, to name a few.
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