Listed by Berkeley Capital Advisors Charlotte
$3,762,000
Walgreens
Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 14,724
Cap Rate 6.50%
NOI $244,530
Occupancy 100%
Tenancy Single
Brand/Tenant Walgreens
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 02/28/2039
Remaining Term 13
Rent Bumps Yes
Lease Options Twelve, 5-Year
Price per SqFt $256
Broker Co-Op True
Year Built 2008
Acreage 1.590
Zoning Commercial
Parking Spaces 70 spaces
Parking Per SqFt 4.75
Investment Type Net Lease
Tenant Credit Credit Rated
Lease Commencement 02/22/2024
Ground Lease No
Absolute Net Lease | Large Parcel | New 15-Year Lease Extension
Investment highlights
• Great access & visibility from signalized corner intersection | Virginia Ave & King Mountain Rd | 36,000 VPD combined
• New 15 Year Lease Extension | Showing tenant commitment to the site | Leased since 2008
• Absolute Net Lease | Zero landlord responsibilities
• Corporate lease | Walgreen Co | 8,886+ locations across the US
• Top 74th percentile of Walgreens in Virginia per Placer.ai
• Large parcel | 1.59 acres
• 13 minutes from Sovah Health - Martinsville | 220 beds
• 8 minutes from Bassett High School | 1,107 students
• 20 minutes from Blue Ridge Airport
• Nearby destination retailers | Dollar General, Family Dollar, Wendy’s, Taco Bell, Burger King, KFC, Biscuitville, O’Reilly Auto Parts, Advance Auto Parts, and others
Listing Contacts
Listed by Berkeley Capital Advisors Charlotte
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$244,530.00
$20,377.50/mo
Valuation Metrics
0
DSCR
6.5%
Cap Rate
6.5%
ROI
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