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33961031
33961032

300 East Cornwallis Drive, Greensboro, NC 27408

CK
GA 413436
Matthews
NR
FL SL3650470
Matthews
Listed by Matthews
$6,210,000
2 days on market
Updated 2 days ago
Opportunity zone

Walgreens

Details
Property Type Retail
Sub Type Convenience Store, QSR/Fast Food (+1)
Square Footage 13,650
Cap Rate 9.50%
NOI $590,000
Occupancy 100%
Tenancy Single
Brand/Tenant Dollar General, Walgreens (+38)
Lease Type Absolute NNN
Lease Expiration 06/30/2034
Remaining Term 8
Price per SqFt $455
Year Built 2009
Acreage 1.360
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Ground Lease No

Rare 24-Hour Walgreens | 9.50% Cap Rate | Absolute NNN | Greensboro, NC

Investment highlights

• Absolute NNN Lease – True passive investment with zero landlord responsibilities for maintenance, repairs, or capital expenditures.

• Corporate Guarantee – Lease backed by the tenant's parent company, providing enhanced credit security and reduced default risk.

• Signalized Hard Corner Location – Highly visible position at a major signalized intersection with strong traffic counts and excellent accessibility

• Top-Tier National Performance – Ranked in the top 13% of consumer pharmacy and drug store locations nationwide (per AlphaMap), reflecting exceptional customer traffic and operational strength.

• Strong Store Sales – Generates approximately $3.74 million in annual gross sales, demonstrating solid tenant performance and long-term viability

• Rare 24-Hour Walgreens – Features both a 24-hour store and pharmacy, a designation typically reserved for Walgreens' highest-volume and most strategic locations.

• Strong Real Estate Fundamentals – Equipped with a pharmacy drive-thru and 51 parking spaces to support customer convenience and traffic flow.

• Established Retail Corridor – Located among major national retailers including Food Lion, Planet Fitness, Starbucks, 7-Eleven, and Jersey Mike's, driving consistent daily consumer traffic.

• Proven Operating History – Walgreens has successfully operated at this location since 2009, underscoring the site's profitability, stability, and loyal customer base.

• Near Regional Medical Hub – Just 1.3 miles from The Moses H. Cone Memorial Hospital, generating consistent prescription demand from patients, staff, and visitors.

• Dense Residential Demographics – Serves Greensboro's established neighborhoods, including Old Irving Park and Kirkwood, with additional demand generated by nearby schools and family-oriented households.

Listing Contacts

CK
GA 413436
Matthews
NR
FL SL3650470
Matthews
Listed by Matthews

Valuation Calculator

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$590,000.00
$49,166.67/mo

Valuation Metrics

0
DSCR
9.5%
Cap Rate
9.5%
ROI

Map

Zoning

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C-M CommercialSpecial CommercialCommercial Medium
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Last updated Jun 8, 2026 For deeper zoning details, reports are available at Zoneomics

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Property History

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Additional Information

Name
Gerard Hamas
License
362768, C42113 (NC)
Brokerage
Matthews of North Carolina, LLC
Brokerage Phone
(866) 889-0550
Title
Broker of Record
Brokerage Address
307 W. Tremont Ave., Ste 200, Charlotte, NC 28203
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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