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Views: 97 DOM: 474 Updated: 08.06.24 Posted: 06.03.23 Status: Active

Summary

Price $2,350,086
Built/Renov 1997
Tenant Walgreens
Cap Rate 7.00%
Lease Type Double NN
Guarantor Corp T and Rated
Size/SF 10,752
Lease Start 05-03-1996
#Units 13,532
Price/SF $218.57
Expiration 05-31-2034
Tenant Type Pharmacy
NOI $164,506
R. Term 9.8
Ownership Fee Simple
Rent/SF $15.30
Increases 3.0%/11/yrs
Pop 5Mi 20,923
Lot/AC 2.08
Options 2/5yrs/3%
AHHI 5Mi $129,938

Lease Highlights

  • Walgreens assumed the lease from Rite Aid and extended it through May 2034 
  • Low rent figure compared to other national pharmacy locations 
  • Tenant has over 10+ years remaining on its current lease term with 2 (5-year) options to extend 
  • 3% rental escalations in each renewal option 
  • Lease is corporately guaranteed 
  • Walgreens is an investment grade tenant (S&P: BBB) 

Location Description

Walgreens is located at the hard corner intersection of Chapin Road (US Hwy76) and Virginia Street with access to a combined 13,400 vehicles per day. The site is equipped with a drive-thru for customer ease and access. Neighboring national/credit tenants include Publix, Food Lion, Anytime Fitness, Dollar General, Jersey Mike’s and many others. Additionally, the site is within close proximity...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Walgreens is an American company that operates the second-largest pharmacy store chain in the United States. It specializes in filling prescriptions, health and wellness products, health...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 1,831 7,076 23,027
2023 Total Population : 1,816 6,914 21,714
2023 Employed Civilian Pop : 828 2,981 10,059
2023 Total Businesses : 231 362 549
2023 Average Household Income : $ 92,199 $ 92,419 $ 115,241
2023 Total Consumer Spending : $ 58 M $ 206 M $ 799 M
2023 Median Age : 40 42 45
2023 Total Households : 737 2,589 8,177
2023 Pop Age 25+: Bachelor's Degree : 263 1,175 4,784
2023 Average Home Value : $ 283,466 $ 295,029 $ 358,711
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Amicks Ferry Road Virginia St 2021 8,300 0.13 mi
Columbia Avenue Pinewood Dr 2021 7,900 0.14 mi
Saint Peters Church Road Broomstraw Rd 2021 5,100 0.16 mi
Chapin Road Columbia Ave 2021 13,400 0.18 mi
Lexington Ave Water St 2021 6,900 0.39 mi
Clark Street Beaufort St 2021 1,100 0.43 mi
Columbia Avenue Brinon Ln 2021 12,800 0.50 mi
East Boundary Street Beaufort St 2021 1,000 0.59 mi
Peak Street Whispering Pine Ct 2021 1,150 0.69 mi
I- 26 Peak St 2016 44,900 1.71 mi

Listing Broker

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