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Walgreens 525 N Cannon Blvd 13,650 SF Retail Building Kannapolis, NC 28083 $9,600,000 ($703.30/SF) 5% Cap Rate
Investment Highlights
- Absolute net lease with zero landlord responsibilities
- Investment grade credit tenant (S&P: BBB)
- 5% rent increases every 5 years with 15 years remaining
- Strategically positioned off the signalized hard corner of Jackson Park Road & Cannon Boulevard which has a combined traffic count of 37,000 VPD
Executive Summary
This absolute net lease investment offers a rare opportunity to acquire a property with zero landlord responsibilities, ensuring a truly passive income stream. The asset is backed by an investment-grade credit tenant (S&P: BBB), providing long-term financial security and stability for investors. With 15 years remaining on the primary lease term and structured 5% rent increases every five years, this property delivers predictable income growth and strong yield performance over time.
Strategically located off the signalized hard corner of Jackson Park Road and Cannon Boulevard, the property benefits from exceptional visibility and accessibility. The intersection boasts a combined traffic count of approximately 37,000 vehicles per day, driving consistent customer flow and reinforcing the tenant’s operational success. This high-traffic location positions the asset within a robust trade area, ensuring long-term viability and tenant retention.
This offering is ideal for investors seeking a low-risk, management-free property with a strong credit tenant and built-in rent escalations. The combination of a long-term lease, investment-grade credit, and a prime location makes this an attractive addition to any portfolio focused on stability and growth.
Strategically located off the signalized hard corner of Jackson Park Road and Cannon Boulevard, the property benefits from exceptional visibility and accessibility. The intersection boasts a combined traffic count of approximately 37,000 vehicles per day, driving consistent customer flow and reinforcing the tenant’s operational success. This high-traffic location positions the asset within a robust trade area, ensuring long-term viability and tenant retention.
This offering is ideal for investors seeking a low-risk, management-free property with a strong credit tenant and built-in rent escalations. The combination of a long-term lease, investment-grade credit, and a prime location makes this an attractive addition to any portfolio focused on stability and growth.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
13,650 SF
Building Class
B
Year Built
2012
Price
$9,600,000
Price Per SF
$703.30
Cap Rate
5%
NOI
$480,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.24
Lot Size
1.28 AC
Zoning
C-2 - Commercial district
Parking
104 Spaces (7.62 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Freeway Visibility
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 5624-01-9525-0000 | Improvements Assessment | $2,751,920 |
| Land Assessment | $886,550 | Total Assessment | $3,638,470 |
Property Taxes
Parcel Number
5624-01-9525-0000
Land Assessment
$886,550
Improvements Assessment
$2,751,920
Total Assessment
$3,638,470
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Walgreens | 525 N Cannon Blvd
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