Drug Store
Walgreens
419 W Broad St, Saint Pauls, NC 28384
Listing Price: $3,665,000
Investment Overview
Marcus & Millichap is pleased to offer for sale a 10,230-square-foot Walgreens (the Property) located in St. Pauls, NC, in which the tenant has just under three years remaining on their long-term absolute net lease. There are four, five-year renewal options featuring rare five-percent rent increases at the beginning of each option to offset inflation. Located just 20 miles south of Fayetteville, NC, the Property sits at the hard signalized corner of West Broad Street and South Fifth Street, with visibility to over 10,500 vehicles per day. Surrounding retailers include Hardee’s, BP, AutoZone Auto Parts, Pizza Hut, Piggly Wiggly, NAPA Auto Parts, Domino’s Pizza, Subway, Dollar General, McDonald’s, Walmart, Burger King and numerous others.
Walgreens
Investment Highlights
- Only National Drug Store in the City and Within a 15-Mile Radius
- Absolute NNN Lease — Zero Landlord Responsibilities
- Rare Rent Increases in Each of the Four, Five-Year Renewal Options
- Over $8 Million in Reported Sales in 2022, up 6.30% from 2021
- Hard Signalized Corner of West Broad Street and South Fifth Street — 10,500+ VPD
- Prime Retail Corridor — Hardee's, Advance Auto Parts, Pizza Hut, Piggly Wiggly, McDonald's, Walmart, Subway, Dollar General and More
Exclusively Listed By
Broker of Record
Listing Price: $3,665,000
Investment Highlights
- Only National Drug Store in the City and Within a 15-Mile Radius
- Absolute NNN Lease — Zero Landlord Responsibilities
- Rare Rent Increases in Each of the Four, Five-Year Renewal Options
- Over $8 Million in Reported Sales in 2022, up 6.30% from 2021
- Hard Signalized Corner of West Broad Street and South Fifth Street — 10,500+ VPD
- Prime Retail Corridor — Hardee's, Advance Auto Parts, Pizza Hut, Piggly Wiggly, McDonald's, Walmart, Subway, Dollar General and More
Investment Overview
Marcus & Millichap is pleased to offer for sale a 10,230-square-foot Walgreens (the Property) located in St. Pauls, NC, in which the tenant has just under three years remaining on their long-term absolute net lease. There are four, five-year renewal options featuring rare five-percent rent increases at the beginning of each option to offset inflation. Located just 20 miles south of Fayetteville, NC, the Property sits at the hard signalized corner of West Broad Street and South Fifth Street, with visibility to over 10,500 vehicles per day. Surrounding retailers include Hardee’s, BP, AutoZone Auto Parts, Pizza Hut, Piggly Wiggly, NAPA Auto Parts, Domino’s Pizza, Subway, Dollar General, McDonald’s, Walmart, Burger King and numerous others.
Exclusively Listed By
Broker of Record
