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Walgreens 115 W Main St 14,447 SF Retail Building Beulaville, NC 28518 $2,850,000 ($197.27/SF) 7.66% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute NNN lease.
- Walgreens is S&P Rated BBB- providing long-term security.
- Lease calls for 5% rental increases every 5 years throughout the base term providing a hedge against inflation.
- Walgreens is the only competition in town and the nearest drug store is over 11 miles away.
EXECUTIVE SUMMARY
WELL SITUATED: Positioned near the signalized intersection of W Main St & S Jackson St which has a combined traffic count of ~25,000 VPD.
STRONG RETAIL TRADE AREA: Located on the main throughfare of Beulaville within close proximity to other national tenants such as McDonald’s, Pizza Hut, Hardee’s, AutoZone, and Advance Auto Parts.
STRONG RETAIL TRADE AREA: Located on the main throughfare of Beulaville within close proximity to other national tenants such as McDonald’s, Pizza Hut, Hardee’s, AutoZone, and Advance Auto Parts.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,447 SF
Building Class
B
Year Built
1900
Price
$2,850,000
Price Per SF
$197.27
Cap Rate
7.66%
NOI
$218,310
Tenancy
Single
Building Height
1 Story
Building FAR
0.96
Lot Size
0.34 AC
Zoning
HB - Highway Business
Parking
60 Spaces (4.15 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Pylon Sign
- Signage
- Drive Thru
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 07-277 | Improvements Assessment | $2,296,891 |
| Land Assessment | $750,000 | Total Assessment | $3,046,891 |
PROPERTY TAXES
Parcel Number
07-277
Land Assessment
$750,000
Improvements Assessment
$2,296,891
Total Assessment
$3,046,891
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Walgreens | 115 W Main St
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