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Drug Store

Walgreens Benson NC

401 E Main Street, Benson, NC 27504

Listing Price: $3,288,930

Cap Rate
6.85%
Tenant Name
Walgreens
Years Remaining On Lease
8.2
Guarantor
Corporate Guarantee
Rentable SF
10,353
Lease Type
Absolute Net
Rent Per Square Feet
$21.76

Investment Overview

Marcus & Millichap is pleased to present to a qualified investor, an exclusive listing for Walgreens, just 30-miles outside of the Raleigh submarket, located at 401 East Main Street in Benson, North Carolina.

The subject property is ideally situated in the heart of Downtown Benson a town that lies at the intersection of I-95 and I-40, two of the most important interstates in the Eastern U.S. Walgreens of Benson is directly accessible from the highways, and within 1000 feet from the I-95 Exit. I-95 is the most traveled highway in the U.S; I-40 is a major east-west commerce route as well as a primary commuter route between Raleigh and the Research Triangle Park. Walgreens of Benson is being offered at a price of $3,288,930 and a cap rate of 6.85 percent on current income. There are 8- years and four months remaining on a newly renegotiated lease, with modest rent of $1.81 per square foot during the initial term and rare five percent increases during the option terms. Benson is in Johnston County, which is considered a part of the Raleigh-Durham-Chapel Hill Combined Statistical Area. Recent infrastructure completion in 2012 of the Triangle Expressway and planned completion of the I-540 Loop which surrounds Raleigh is expected to increase accessibility for Benson residents, providing an attractive living option for commuters working in Raleigh or Research Triangle Park.

Walgreens of Benson presents an exclusive opportunity to acquire a soon branded Walgreens at a low price point, with low market rents, and very rare increases. The buyer of this property will benefit from owning Walgreens credit less than 1000 feet from the busiest highway in America, just 30 minutes outside of an expanding Raleigh market, with increasing rental value over the over the next 30 years.

Investment Highlights

  • Corporate Guarantee from NYSE: WBA.
  • Absolute Net-No Landlord Responsibility.
  • Benson at Intersection of I-95 and I-40.
  • 30 Miles from Raleigh Submarket.

Exclusively Listed By

  • Jon A. Holmquist

    Senior Managing Director Investments

    (415) 625-2117

    Email Jon

    License(s): CA: 01257479

    San Francisco

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s) NC: 303785

    North Carolina

Financing By

Drug Store

Walgreens Benson NC

Listing Price: $3,288,930

Cap Rate
6.85%
Tenant Name
Walgreens
Years Remaining On Lease
8.2
Guarantor
Corporate Guarantee
Rentable SF
10,353
Lease Type
Absolute Net
Rent Per Square Feet
$21.76

Investment Highlights

  • Corporate Guarantee from NYSE: WBA.
  • Absolute Net-No Landlord Responsibility.
  • Benson at Intersection of I-95 and I-40.
  • 30 Miles from Raleigh Submarket.

Investment Overview

Marcus & Millichap is pleased to present to a qualified investor, an exclusive listing for Walgreens, just 30-miles outside of the Raleigh submarket, located at 401 East Main Street in Benson, North Carolina. The subject property is ideally situated in the heart of Downtown Benson a town that lies at the intersection of I-95 and I-40, two of the most important interstates in the Eastern U.S. Walgreens of Benson is directly accessible from the highways, and within 1000 feet from the I-95 Exit. I-95 is the most traveled highway in the U.S; I-40 is a major east-west commerce route as well as a primary commuter route between Raleigh and the Research Triangle Park. Walgreens of Benson is being offered at a price of $3,288,930 and a cap rate of 6.85 percent on current income. There are 8- years and four months remaining on a newly renegotiated lease, with modest rent of $1.81 per square foot during the initial term and rare five percent increases during the option terms. Benson is in Johnston County, which is considered a part of the Raleigh-Durham-Chapel Hill Combined Statistical Area. Recent infrastructure completion in 2012 of the Triangle Expressway and planned completion of the I-540 Loop which surrounds Raleigh is expected to increase accessibility for Benson residents, providing an attractive living option for commuters working in Raleigh or Research Triangle Park. Walgreens of Benson presents an exclusive opportunity to acquire a soon branded Walgreens at a low price point, with low market rents, and very rare increases. The buyer of this property will benefit from owning Walgreens credit less than 1000 feet from the busiest highway in America, just 30 minutes outside of an expanding Raleigh market, with increasing rental value over the over the next 30 years.

Exclusively Listed By

  • Jon A. Holmquist

    Senior Managing Director Investments

    (415) 625-2117

    Email Jon

    License(s): CA: 01257479

    San Francisco

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s): NC: 303785

    North Carolina

Financing By

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