Drug Store
Walgreens
300 E Windsor St, Westminster, SC 29693
Listing Price: $2,387,000
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.
Walgreens
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
Listing Price: $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
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.
