This Retail Property is Off-Market.

319 Village Road Northeast
Leland, NC 28451 ·

14,820 SF · Retail For Sale

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Walgreens

Price N/A Property Use Type Net Lease Investment with 10+ years left on lease
Building Size 14,820 SF Cap Rate 7%
Property Type Retail Tenancy Single
Property Sub-type Free Standing Bldg Lot Size 1.84 AC
Listing ID: 17443552 Date Created: 12/07/2011 Last Updated: 02/22/2012

Description

The tenant is signed to a 75-year triple-net lease that commenced in September 2004. The tenant has the option to terminate the lease beginning on the 25th anniversary and every five year anniversary thereafter. The tenant is responsible for all property expenses, enabling an investor to have a hassle-free investment with long-term income from an investment grade tenant.

Walgreen operates more than 7,400 stores in 49 states, the District of Columbia, Guam, Puerto Rico and two mail-order facilities.

There is assumable, non-recourse financing in place that is self-amortizing, with the note coming due at the expiration of the lease. Please contact agent for details.

The subject property is a 2004 constructed Walgreens Pharmacy store, located on approximately 1.84 acres in Leland, North Carolina. Leland is a suburb of Wilmington, which is a popular beach town for tourists on North Carolina's east coast due to its mild weather and natural beaches. Within a quarter of a mile are two grocery anchored shopping centers, one with a Food Lion and one with a Piggly Wiggly. Other surrounding national retailers include Pizza Hut, McDonald's, Auto Zone, Advanced Auto Parts, KFC, Waffle House, Hardee's and Domino's Pizza.

Research

319 Village Road Northeast, Leland, NC 28451 (Brunswick County)

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