Walgreens - Carthage, NC
11,368 SqFt
Marketing description
11,368 SF Walgreens in Carthage, NC, on a 1.23‑acre hard corner along the primary Moore County commercial corridor, operating under an Absolute NNN lease with zero landlord responsibilities. Located at 1006 Monroe Street, this top‑quartile sales store ranks among the strongest performers for Walgreens, supported by high prescription volume, steady front‑end traffic, and long‑term corporate credit. Carthage serves as the county seat of Moore County—internationally recognized as the “birthplace of American golf”—with more than 40 golf courses within a 35‑minute drive attracting year‑round tourism and affluent retirees. Since September 2025, over 280 new single‑family building permits have been issued within a 15 minute drive time from the site, signaling strong residential growth that is expanding the trade area’s population, household incomes, and daily demand for convenience retail and pharmacy services. This combination of absolute NNN structure, strong corporate tenancy, growing rooftops, and entrenched regional tourism creates a highly passive, institutionally attractive investment with reliable long‑term cash flow potential.
Investment highlights
This Walgreens property in Carthage, NC represents a high-quality, corporate-backed NNN investment featuring strong and consistent operating performance, with approximately $10.1 million in annual sales and a healthy 2.06% rent-to-sales ratio—well below industry benchmarks. The tenant has demonstrated long-term commitment to the site through a recent 10-year lease extension, reinforcing confidence in the store’s continued success. The lease structure includes favorable 5% rental increases in each option period, providing attractive built-in income growth, while current below-market rent offers potential upside. Strategically located along Monroe Street (15,000+ VPD) near the renowned Pinehurst Golf Course, the property benefits from excellent visibility and accessibility. As the only national drugstore within a 10-mile radius and surrounded by major national retailers and quick-service brands, the site enjoys a dominant market position, strong consumer traffic, and sustained demand within a growing and stable trade area.
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