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Walgreens: Troutman, NC 533 N Main St 11,283 SF Retail Building Troutman, NC 28166 $2,613,280 ($231.61/SF) 7.50% Cap Rate
Investment Highlights
- Recently-extended absolute NNN lease
- 1.4 MSF of retail, 8.3 MSF of industrial and 858 multifamily units within a 5-mile radius
- Charlotte, NC MSA advantage
- Highly residential area
- Strategic location across from Troutman Village shopping center
Executive Summary
CBRE is pleased to exclusively offer for sale the 11,283 SF Walgreens situated on 1.71 AC in Troutman, NC - a component of the Charlotte-Concord-Gastonia, NC-SC MSA. Originally set to expire in 2033, Walgreens’ absolute NNN lease was extended through 2038 and now features ±12.4 years of primary term remaining with eleven, 5-year options to renew.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
11,283 SF
Building Class
B
Year Built
2007
Price
$2,613,280
Price Per SF
$231.61
Cap Rate
7.50%
NOI
$195,996
Tenancy
Single
Building Height
1 Story
Building FAR
0.15
Lot Size
1.71 AC
Zoning
HB - Business
Parking
51 Spaces (4.52 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Drive Thru
- Air Conditioning
Property Taxes
| Parcel Number | 4731-78-3808.000 | Improvements Assessment | $1,872,560 |
| Land Assessment | $341,040 | Total Assessment | $2,213,600 |
Property Taxes
Parcel Number
4731-78-3808.000
Land Assessment
$341,040
Improvements Assessment
$1,872,560
Total Assessment
$2,213,600
Contacts
-
Brian Pfohl -
Christopher Bosworth -
Thomas Carr -
Leah Lindell -
Abby Kelly -
Kaitlyn Wolf -
Adam Russ -
CBRE
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Walgreens: Troutman, NC | 533 N Main St
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