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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
Absolute net lease with zero landlord responsibilities. 5% rent increases every 5 years with 15 years remaining. Investment grade credit tenant (S&P: BBB). Strategically positioned off the signalized hard corner of Jackson Park Road & Cannon Boulevard which has a combined traffic count of 37,000 VPD.
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
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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