Rite Aid (Walgreens) - Durham, NC
3798 Guess Rd Durham , NC 27705-6909

Rite Aid (Walgreens) - Durham, NC - retail for sale

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Overview


Stand-alone Rite Aid property for sale, featuring a Walgreens-operated pharmacy at the busy intersection of Guess and Horton Roads. The store is currently branded as a Rite Aid, although managed by Walgreens and will eventually be rebranded as Walgreens. The Property possesses highly favorable lease fundamentals, featuring Rite Aid tenancy whose lease has been assigned to Walgreens corporate on an absolute NNN lease structure. There are currently 7.8 years of lease term remaining, and five, 5-year option periods with rental increases. The Property is strategically positioned on the hard-signalized intersection of Guess Road and Horton Road which sees a combined traffic count of over 28,000 vehicles per day. This offering represents an exceptional opportunity to acquire a valuable property with strong lease fundamentals leased to an investment-grade tenant.

Investment highlights


  • Assigned to Walgreens corporate with an absolute NNN lease structure with 7.8 years remaining
  • Includes five 5-year option periods with rental increases
  • Nationally recognized tenant with strong brand loyalty 
General
Property type Retail
Tenure type Sale/Purchase
Property address 3798 Guess Rd, Durham, NC 27705-6909
Market Raleigh-Durham
Land in acres 1.25
Building size 11,200  ft2
Year built 2000
Financial
Price $4,500,000
Cap rate 6.76%
Current NOI $304,204.00
Lease
Tenant's name RITE AID Corporation
Guarantor Walgreens Company
Lease type NNN
Lease expiration date 01/24/2026
Remaining term 6.1Yrs

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