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Drug Store

Walgreens NNN Lease Myrtle Beach

4300 Hwy 17 S, North Myrtle Beach, SC 29582

Listing Price: $5,277,778

Cap Rate
5.40%
Tenant Name
Walgreens
Years Remaining On Lease
6.2
Gross SF
14,490
Guarantor
Corporate Guarantee
Rentable SF
14,490
Price/Gross SF
$364.24
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$19.67

Investment Overview

Marcus & Millichap is pleased to present for sale this Absolute Net
Leased Walgreens located at 4300 Highway 17 South in North Myrtle
Beach, South Carolina. The subject property consists of a free-standing
building comprised of 14,490 square feet of retail space and is situated
on a large 1.91-acre parcel of land.
Strategically located on the Hard-Signalized Intersection of Highway
17 and Windy Hill Road, the property is highly visible to more than
47,300 vehicles per day. The property is also conveniently located at
the entrance of Barefoot Resort & Golf a 2,300-acre resort comprised
of 4 premier golf courses and premium resort-style communities along
the intracoastal. The property is also within proximity of the Barefoot
Landing Waterfront Shopping Center which includes 54 Shops, 15
Restaurants and the Alabama Theater for Live Entertainment. The
Grand Strand Airport, which sees over 46,000 flights a year, is also just
a few minutes away. The immediate trade area proves to be a strong
retail corridor with numerous national and regional tenants its vicinity.
Walgreens recently executed a five year extension at this site. With a
long historical occupancy at this site, Walgreens has shown a strong
commitment to the location. The Absolute-Net lease is guaranteed
by Walgreens Boots Alliance. Walgreens (NYSE: WBA) is a publicly
traded company with an S&P Credit Rating of BBB and is ranked #19
in the Fortune 500 (2020). Walgreen Co. operates over 9,275 stores
in all 50 states, the District of Columbia, Puerto Rico and Guam. The
company also operates worksite health centers, home care facilities,
and specialty and mail service pharmacies.

Investment Highlights

  • Absolute NNN Lease | Recent Lease Extension | More than 6 Years Remain
  • Located at the Entrance to Barefoot Resort, a 2,300 Acre Golf Resort
  • Located 5 Minutes from The Grand Strand Airport
  • Walgreens is considered an Essential Tenant
  • 14 Million Annual Visitors and Named #1 Spot by Trip Advisor for a Summer Destination
  • Hard Corner Signalized Intersection Exposure to More than 49,000 Vehicles Per Day

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    (843) 952-2300

    License(s) SC: 86628

    South Carolina

Drug Store

Walgreens NNN Lease Myrtle Beach

Listing Price: $5,277,778

Cap Rate
5.40%
Tenant Name
Walgreens
Years Remaining On Lease
6.2
Gross SF
14,490
Guarantor
Corporate Guarantee
Rentable SF
14,490
Price/Gross SF
$364.24
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$19.67

Investment Highlights

  • Absolute NNN Lease | Recent Lease Extension | More than 6 Years Remain
  • Located at the Entrance to Barefoot Resort, a 2,300 Acre Golf Resort
  • Located 5 Minutes from The Grand Strand Airport
  • Walgreens is considered an Essential Tenant
  • 14 Million Annual Visitors and Named #1 Spot by Trip Advisor for a Summer Destination
  • Hard Corner Signalized Intersection Exposure to More than 49,000 Vehicles Per Day

Investment Overview

Marcus & Millichap is pleased to present for sale this Absolute Net
Leased Walgreens located at 4300 Highway 17 South in North Myrtle
Beach, South Carolina. The subject property consists of a free-standing
building comprised of 14,490 square feet of retail space and is situated
on a large 1.91-acre parcel of land.
Strategically located on the Hard-Signalized Intersection of Highway
17 and Windy Hill Road, the property is highly visible to more than
47,300 vehicles per day. The property is also conveniently located at
the entrance of Barefoot Resort & Golf a 2,300-acre resort comprised
of 4 premier golf courses and premium resort-style communities along
the intracoastal. The property is also within proximity of the Barefoot
Landing Waterfront Shopping Center which includes 54 Shops, 15
Restaurants and the Alabama Theater for Live Entertainment. The
Grand Strand Airport, which sees over 46,000 flights a year, is also just
a few minutes away. The immediate trade area proves to be a strong
retail corridor with numerous national and regional tenants its vicinity.
Walgreens recently executed a five year extension at this site. With a
long historical occupancy at this site, Walgreens has shown a strong
commitment to the location. The Absolute-Net lease is guaranteed
by Walgreens Boots Alliance. Walgreens (NYSE: WBA) is a publicly
traded company with an S&P Credit Rating of BBB and is ranked #19
in the Fortune 500 (2020). Walgreen Co. operates over 9,275 stores
in all 50 states, the District of Columbia, Puerto Rico and Guam. The
company also operates worksite health centers, home care facilities,
and specialty and mail service pharmacies.

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Regional Manager

    (843) 952-2300

    License(s): SC: 86628

    South Carolina

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