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Drug Store

Walgreens

300 E Windsor St, Westminster, SC 29693

Listing Price: $2,387,000

Cap Rate
5.40%
Tenant Name
Walgreens
Years Remaining On Lease
5.1
Gross SF
10,148
Guarantor
No Guarantee
Rentable SF
10,148
Price/Gross SF
$235.22
Lease Type
Double Net
Rent Per Square Feet
$12.70

Investment Overview

Marcus & Millichap is pleased to exclusively present for sale, Walgreens located in Westminster, South Carolina. Walgreens currently has a double-net lease with over five years remaining. There is currently no competition in the immediate area with the nearest pharmacy located seven miles east. Walgreens is being offered for $2,387,000.

Investment Highlights

  • Walgreens Double-Net Lease with Over Five Years Remaining in Westminster, South Carolina
  • Low Rent Store – Annual Rent of Only $128,900 ($12.70 per Square Foot); Low Price per Square Foot of $235 | Attractive Rent-to-Sales Ratio.
  • Rare Rent Increases – Two Five- Year Options Remaining, Both with Rent Increases
  • Just Exercised Second Five-Year Option thru October 2027 with Rent Increase
  • Strong Reported Store Sales with Positive Trend (Over 10.8 Percent Over T24 Months)
  • Walgreen Co. Corporate Lease Entity; Investment-Grade "BBB" S&P Credit Rating
  • History of Renewals – Original 20-Year Build-to-Suit in 1997; First and Second Options Both Exercised As-Is/Without Modification
  • One of 43 South Carolina Rite Aid Stores whose Lease was Assigned to Walgreens in 2018 as Part of the Sale from RAD to WBA

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (843) 952-2300

    License(s) SC: 86628

    South Carolina

Financing By

Listing Price: $2,387,000

Cap Rate
5.40%
Tenant Name
Walgreens
Years Remaining On Lease
5.1
Gross SF
10,148
Guarantor
No Guarantee
Rentable SF
10,148
Price/Gross SF
$235.22
Lease Type
Double Net
Rent Per Square Feet
$12.70

Investment Highlights

  • Walgreens Double-Net Lease with Over Five Years Remaining in Westminster, South Carolina
  • Low Rent Store – Annual Rent of Only $128,900 ($12.70 per Square Foot); Low Price per Square Foot of $235 | Attractive Rent-to-Sales Ratio.
  • Rare Rent Increases – Two Five- Year Options Remaining, Both with Rent Increases
  • Just Exercised Second Five-Year Option thru October 2027 with Rent Increase
  • Strong Reported Store Sales with Positive Trend (Over 10.8 Percent Over T24 Months)
  • Walgreen Co. Corporate Lease Entity; Investment-Grade "BBB" S&P Credit Rating
  • History of Renewals – Original 20-Year Build-to-Suit in 1997; First and Second Options Both Exercised As-Is/Without Modification
  • One of 43 South Carolina Rite Aid Stores whose Lease was Assigned to Walgreens in 2018 as Part of the Sale from RAD to WBA

Investment Overview

Marcus & Millichap is pleased to exclusively present for sale, Walgreens located in Westminster, South Carolina. Walgreens currently has a double-net lease with over five years remaining. There is currently no competition in the immediate area with the nearest pharmacy located seven miles east. Walgreens is being offered for $2,387,000.

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (843) 952-2300

    License(s): SC: 86628

    South Carolina

Financing By

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