This property is Off-Market

SWC Remount Rd & Yeamans Hall Rd
North Charleston, SC 29406 ·

14,550 SF · Retail For Sale

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Walgreens Pharmacy

Price N/A Cap Rate 6.40%
Building Size 14,550 SF Occupancy 100%
Property Type Retail Tenancy Single
Property Sub-type Free Standing Bldg Year Built 2008
Property Use Type Net Lease Investment with 10+ years left on lease Lot Size 1.63 AC
Listing ID: 15729985 Date Created: 05/27/2008 Last Updated: 10/02/2008

Description

We are pleased to offer for sale to qualified investors an attractive free-standing retail property with a long-term lease located in North Charleston, SC. The fee-simple property is 100% leased and guaranteed by Walgreens (NYSE: WAG), which holds an A+ rating with Standard and Poor's, for a term of 75 years. The lease is an absolute NNN Lease, with no landlord responsibilities, which is well suited for private or 1031-exchange investors seeking high quality replacement property.

The property can be acquired individually or as part of a $32 million portfolio.

North Charleston is a suburban city in Charleston and Dorchester counties. It ranks as 3rd in city limit populations within the state, after Columbia and Charleston. North Charleston might become known as South Carolina's most notable "Boom Town." Incorporated in June 1972, North Charleston had a population of 21,000 and an area of seven square miles. Since that time, the city has tripled its population to nearly 80,000 and now encompasses more than 62 square miles. Constant growth makes it easy to see why North Charleston has become South Carolina's third largest municipality.

Today, North Charleston is a vibrant city that attracts more than 2 million visitors annually. This thriving region boasts a 13,500-seat coliseum (home to East Coast Hockey League (ECHL) minor league hockey team the SC Stingrays), a convention center, a performing arts center and an adjacent hotel complex. The city has excellent shopping facilities, malls, restaurants and beautifully planned neighborhoods.

Highlights

  • Brand-new, freestanding Walgreens store located in a strong retail corridor
  • Annual rent of $329,900
  • Seventy-five (75) year lease term, with fifty (50), one (1) year options to termination after twenty-fifth (25th) year
  • Lease Commencement: June 15, 2008
  • Absolute NNN Lease, with no landlord responsibilities
  • Strong Credit Tenant (S&P: A+)

Research

SWC Remount Rd & Yeamans Hall Rd, North Charleston, SC 29406 (Charleston County)

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