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Views: 333 DOM: 124 Updated: 11.27.24 Posted: 08.19.24 Status: Active

Summary

Price $2,099,000
Built/Renov 2024
Tenant Walgreens
Cap Rate 6.00%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 2,502
Lease Start 02-29-2024
#Units 13,532
Price/SF $838.93
Expiration 02-28-2034
Tenant Type Pharmacy
NOI $125,939
R. Term 9.2
Ownership Fee Simple
Rent/SF $50.34
Increases 5.0%/9/yrs
Pop 5Mi 161,014
Lot/AC 1.01
Options 4/5yrs/5%
AHHI 5Mi $76,727

Lease Highlights

  • Brand-new 2024 construction
  • Walgreens has 9+ years remaining on the current lease term with 4 (5-year) options to extend
  • The lease features 5% rental escalations at the start of each option period
  • Absolute NNN lease | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located on Randleman Road, with access to 21,500 vehicles passing by daily. The property is just 5 minutes from the University of North Carolina Greensboro, 7 minutes from Greensboro College, and 8 minutes from North Carolina A&T. Additionally, it is situated in a prime retail node with over 900,000 SF of retail space, 4.3 million SF of industrial space, 1,150...

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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
2029 Total Population : 6,989 85,811 163,343
2024 Total Population : 7,109 85,233 161,014
2024 Employed Civilian Pop : 3,117 39,267 74,561
2024 Total Businesses : 470 4,370 9,649
2024 Average Household Income : $ 55,365 $ 63,545 $ 76,727
2024 Total Consumer Spending : $ 146 M $ 1810 M $ 4278 M
2024 Median Age : 38 30 33
2024 Total Households : 2,962 31,849 62,666
2024 Pop Age 25+: Bachelor's Degree : 576 9,914 22,085
2024 Average Home Value : $ 156,684 $ 247,834 $ 302,285
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Randleman Road W Meadowview Rd 2022 19,554 0.04 mi
Randleman Road Farragut St 2019 22,000 0.08 mi
I- 40 2022 3,570 0.16 mi
I- 40 2022 4,433 0.18 mi
Spring Valley Apartment 2022 6,337 0.18 mi
Randleman Rd 2022 4,086 0.24 mi
I- 85 Bus 2022 2,114 0.27 mi
I- 85 Bus 2022 4,720 0.27 mi
I- 40 2022 2,413 0.30 mi
S Elm Eugene St 2019 139,000 0.30 mi

Listing Broker

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