Skip to main content

Drug Store

Walgreens Hartsville, SC (Florence MSA) I Increased Store Sales

901 S 5th St, Hartsville, SC 29550

Listing Price: $5,820,000

Cap Rate
5.00%
Tenant Name
Walgreen Co.
Years Remaining On Lease
11.5
Guarantor
Corporate Guarantee
Rentable SF
14,450
Lease Type
Absolute Net
Rent Per Square Feet
$20.16

Investment Overview

Marcus & Millichap is pleased to exclusively present for sale an absolute net-leased Walgreens pharmacy. This corporately guaranteed (Walgreen Co. S&P credit rating: BBB Stable) investment property is located in Hartsville, South Carolina, Darlington County, Florence MSA. The subject property has a solid sales track record with increasing performance at a projected 4.8 percent rent to sales and 11.7 years remaining on the base lease term. Walgreens Hartsville is located at the signalized corner of 901 South 5th Street (US Highway 15 Business) (14,000 VPD) and East Washington Street (4,800 VPD). The nearest Walgreens pharmacy is approximately 14.6 miles (19 minute drive) in Darlington, South Carolina. Located in the primary retail trade area of Hartsville which serves the cities of Northwest Darlington, McBee, Patrick, Bishopville, and Society Hill, Walgreens Hartsville is in close proximity to the Walmart anchored Hartsville Crossing and next to the Hartsville Mall Shopping Center which features Belk, Roses, and Lowe’s, and is across from Piggly Wiggly. In the immediate area is a former Rite Aid pharmacy that is permanently closed which Walgreens acquired as part of a larger acquisition (1,932 stores) from Rite Aid in 2018 and closed or rebranded many acquired stores in 2019. The former Rite Aid store's prescriptions were transferred to this Walgreens pharmacy. The 14,450 square foot investment property is situated on large 1.40+/- acre parcel and includes a drive-through, and three (3) points of ingress and egress. At this location, Walgreens is open from 8am-10pm and offers a drive-through pick up service, grocery, and beer and wine in addition to their traditional front-end retail offerings.

Investment Highlights

  • Consistent Increased Store Sales Performance: Estimated 4.8 Percent Rent to Sales Ratio | Prescription Volume Growth Before, During, and Through the Pandemic
  • Commitment to Site, Walgreens Acquired the Rite-Aid Across the Street which Walgreens closed and Transferred Prescriptions to this Location in 2019
  • Absolute Net Lease
  • Walgreen Co., S&P BBB/Stable Guaranteed Lease
  • 11.7 Years Remaining Term

Exclusively Listed By

Drug Store

Walgreens Hartsville, SC (Florence MSA) I Increased Store Sales

Listing Price: $5,820,000

Cap Rate
5.00%
Tenant Name
Walgreen Co.
Years Remaining On Lease
11.5
Guarantor
Corporate Guarantee
Rentable SF
14,450
Lease Type
Absolute Net
Rent Per Square Feet
$20.16

Investment Highlights

  • Consistent Increased Store Sales Performance: Estimated 4.8 Percent Rent to Sales Ratio | Prescription Volume Growth Before, During, and Through the Pandemic
  • Commitment to Site, Walgreens Acquired the Rite-Aid Across the Street which Walgreens closed and Transferred Prescriptions to this Location in 2019
  • Absolute Net Lease
  • Walgreen Co., S&P BBB/Stable Guaranteed Lease
  • 11.7 Years Remaining Term

Investment Overview

Marcus & Millichap is pleased to exclusively present for sale an absolute net-leased Walgreens pharmacy. This corporately guaranteed (Walgreen Co. S&P credit rating: BBB Stable) investment property is located in Hartsville, South Carolina, Darlington County, Florence MSA. The subject property has a solid sales track record with increasing performance at a projected 4.8 percent rent to sales and 11.7 years remaining on the base lease term. Walgreens Hartsville is located at the signalized corner of 901 South 5th Street (US Highway 15 Business) (14,000 VPD) and East Washington Street (4,800 VPD). The nearest Walgreens pharmacy is approximately 14.6 miles (19 minute drive) in Darlington, South Carolina. Located in the primary retail trade area of Hartsville which serves the cities of Northwest Darlington, McBee, Patrick, Bishopville, and Society Hill, Walgreens Hartsville is in close proximity to the Walmart anchored Hartsville Crossing and next to the Hartsville Mall Shopping Center which features Belk, Roses, and Lowe’s, and is across from Piggly Wiggly. In the immediate area is a former Rite Aid pharmacy that is permanently closed which Walgreens acquired as part of a larger acquisition (1,932 stores) from Rite Aid in 2018 and closed or rebranded many acquired stores in 2019. The former Rite Aid store's prescriptions were transferred to this Walgreens pharmacy. The 14,450 square foot investment property is situated on large 1.40+/- acre parcel and includes a drive-through, and three (3) points of ingress and egress. At this location, Walgreens is open from 8am-10pm and offers a drive-through pick up service, grocery, and beer and wine in addition to their traditional front-end retail offerings.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower