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Kerr Drug 419 W Broad St 10,230 SF Retail Building Saint Pauls, NC 28384 $2,625,000 ($256.60/SF) 8% Cap Rate
Investment Highlights
- Absolute NNN Lease | Zero Landlord Responsibilities
- Ideal Access & Visibility | 4 Points of Ingress/Egress
- Hard Corner Signalized Intersection | Traffic Counts at Intersection Exceed 21,291+ VPD
- Explosive Sales Reports | $8.5M+ | Up 7% from 2022
- Only National Drug Store in the Area | Nearest Walgreens is Located Over 12.5-Miles Away
- 5% Rent Increases In Each Option Period
Executive Summary
Absolute NNN Lease | Zero Landlord Responsibilities
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
10,230 SF
Building Class
B
Year Built
1999
Price
$2,625,000
Price Per SF
$256.60
Cap Rate
8%
NOI
$210,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.23
Lot Size
1.03 AC
Opportunity Zone
Yes
Zoning
HB - Highway Business
Parking
50 Spaces (4.89 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Pylon Sign
- Signage
- Drive Thru
Nearby Major Retailers
Property Taxes
| Parcel Number | 3813-02-001 | Improvements Assessment | $946,700 |
| Land Assessment | $296,100 | Total Assessment | $1,242,800 |
Property Taxes
Parcel Number
3813-02-001
Land Assessment
$296,100
Improvements Assessment
$946,700
Total Assessment
$1,242,800
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Kerr Drug | 419 W Broad St
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