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319 Village Road Northeast, Leland, NC 28451
14,820 SF | Retail
Retail Property - Off Market
- Building Size:
- 14,820 SF
- Property Type:
- Property Sub-type:
- Free Standing Bldg
- Property Use Type:
- Net Lease Investment with
- 10+ years left on lease
- Cap Rate:
- Lot Size:
- 1.84 AC
- Listing ID
- Last Updated
- over 1 year ago
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.
Map of 319 Village Road Northeast, Leland, NC 28451 (Brunswick County)
Research for 319 Village Road Northeast, Leland, NC 28451 (Brunswick County)
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The information above has
been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified
it and make no guarantee, warranty or representation about it. It is your responsibility to independently
confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are
for example only and do not represent the current or future performance of the property. The value of
this transaction to you depends on tax and other factors which should be evaluated by your tax, financial,
and legal advisors. You and your advisors should conduct a careful, independent investigation of the
property to determine to your satisfaction the suitability of the property for your needs. TB-P