Drug Store

Walgreens

301 N Main St, Holly Springs, NC 27540

Listing Price: $4,871,794

Cap Rate
5.85%
Tenant Name
Walgreens
Years Remaining On Lease
7.50
Guarantor
Corporate Guarantee
Rentable SF
14,560
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$19.57

Investment Overview

Marcus & Millichap is pleased to present for sale a Walgreens Pharmacy located at 301 North Main Street in Holly Springs, Wake County, North Carolina. The property consists of a single-story 14,560 square foot freestanding structure that is situated on a 1.41-acre parcel, featuring 57 parking spaces, two points of ingress/egress, and a drive-through component. This absolute, triple-net (NNN) leased Walgreens asset has just under 8 years remaining on its original, 25-year lease term with ten, 5-year options to extend. This Walgreens is a proven location, primarily due to strong demographics, lack of competition and proximity to nearby healthcare facilities. Overall store sales at this location have been on an upward trajectory for the past three years, mainly due to the sale of general merchandise and convenience items. The property is located directly across the street from a former Rite-Aid, which went dark more than 12 months ago.

Investment Highlights

  • Long-Term Investment | Nearly 8 Years Remaining on 25-Year Lease
  • Absolute NNN Lease | Zero Landlord Responsibilities
  • Drive-Through Location with ±57 Parking Spaces & 2 Points of Ingress & Egress
  • Affluent Demographics |102,320 Population, $120,250 Average Household Income (5-Mile Radius)
  • ZERO Competition in Trade Area | Dark Rite Aid Directly Across Street |Closest Name Brand Drug Store over 2 Miles Away
  • Strong Traffic Counts (+26,000 VPD)
  • Proximity to National Retailers, Urgent Care Centers and Regional Hospitals Assist in Drawing Traffic to Location

Exclusively Listed By

Listing Price: $4,871,794

Cap Rate
5.85%
Tenant Name
Walgreens
Years Remaining On Lease
7.50
Guarantor
Corporate Guarantee
Rentable SF
14,560
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$19.57

Investment Highlights

  • Long-Term Investment | Nearly 8 Years Remaining on 25-Year Lease
  • Absolute NNN Lease | Zero Landlord Responsibilities
  • Drive-Through Location with ±57 Parking Spaces & 2 Points of Ingress & Egress
  • Affluent Demographics |102,320 Population, $120,250 Average Household Income (5-Mile Radius)
  • ZERO Competition in Trade Area | Dark Rite Aid Directly Across Street |Closest Name Brand Drug Store over 2 Miles Away
  • Strong Traffic Counts (+26,000 VPD)
  • Proximity to National Retailers, Urgent Care Centers and Regional Hospitals Assist in Drawing Traffic to Location

Investment Overview

Marcus & Millichap is pleased to present for sale a Walgreens Pharmacy located at 301 North Main Street in Holly Springs, Wake County, North Carolina. The property consists of a single-story 14,560 square foot freestanding structure that is situated on a 1.41-acre parcel, featuring 57 parking spaces, two points of ingress/egress, and a drive-through component. This absolute, triple-net (NNN) leased Walgreens asset has just under 8 years remaining on its original, 25-year lease term with ten, 5-year options to extend. This Walgreens is a proven location, primarily due to strong demographics, lack of competition and proximity to nearby healthcare facilities. Overall store sales at this location have been on an upward trajectory for the past three years, mainly due to the sale of general merchandise and convenience items. The property is located directly across the street from a former Rite-Aid, which went dark more than 12 months ago.

Exclusively Listed By

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