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Walgreens 650 S Main St 10,908 SF Retail Building King, NC 27021 $2,592,344 ($237.66/SF) 6.40% Cap Rate
Investment Highlights
- Established Corporate Tenant – Walgreens
- Attractive Price Per Square Foot
- 20-Year Double Net Lease Structure
Executive Summary
Surmount is pleased to present the exclusive listing for a Walgreens located at 650 S. Main Street, King, NC 27021. The site consists of roughly 10,908 rentable square feet of building space on an estimated 1.65-acre parcel of land. This Walgreens is subject to a 20-year Double Net (NN) lease, which commenced. The current annual rent is $165,910 and has scheduled increases of in options.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
10,908 SF
Building Class
B
Year Built
1998
Price
$2,592,344
Price Per SF
$237.66
Cap Rate
6.40%
NOI
$165,910
Tenancy
Single
Building Height
1 Story
Building FAR
0.15
Lot Size
1.65 AC
Opportunity Zone
Yes
Zoning
B-2
Parking
58 Spaces (5.16 Spaces per 1,000 SF Leased)
Frontage
495’ on S Main St
Amenities
- Signage
Nearby Major Retailers
Property Taxes
| Parcel Number | 599108872873 | Improvements Assessment | $1,247,300 |
| Land Assessment | $1,139,300 | Total Assessment | $2,386,600 |
Property Taxes
Parcel Number
599108872873
Land Assessment
$1,139,300
Improvements Assessment
$1,247,300
Total Assessment
$2,386,600
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Walgreens | 650 S Main St
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