Walgreens - Whiteville, NC

803 N Jk Powell Blvd Whiteville , NC 28472-2122

Walgreens - Whiteville, NC - retail for sale

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Overview


JLL is pleased to offer for sale the fee-simple interest in a freestanding, single-tenant Walgreens (the ?Property? or ?Asset?) located in Whiteville, North Carolina. The Property is leased to Walgreens on a NNN basis with more than 12 years of primary term remaining, and ten, five-year renewal options. Strategically positioned on the hard corner and signalized intersection of JK Powell Boulevard and Washington Street, the Property possesses excellent visibility and exposure along Whiteville?s main retail corridor. This offering presents the opportunity to purchase a well-located property with strong tenancy from the largest retail pharmacy chain in the country operating on a long-term lease with absolutely zero landlord responsibilities.

Investment highlights



The Property is subject to an absolute NNN lease featuring over 12 years of primary term remaining, zero landlord responsibilities and ten, five-year renewal options.

Walgreen Co. guarantees the lease, providing ownership with a secure income stream backed by an investment-grade ‘BBB’ credit rating from Standard & Poor’s. Walgreens is the largest retail pharmacy chain in the United States with more than 9,200 locations.

Located on the hard corner and signalized intersection of JK Powell Boulevard and Washington Street, the Property possesses great real estate fundamentals and has exposure to combined traffic counts of 30,000 vehicles per day.

The Asset is located within close proximity to the area’s major traffic-drivers, including the Columbus County Courthouse, Whiteville High School, and Columbus Regional Hospital.


General
Property type Retail
Tenure type Sale/Purchase
Property address 803 N Jk Powell Blvd, Whiteville, NC 28472-2122
Land in acres 1.76
Building size 14,820  ft2
Year built 2006
Financial
Price $4,807,700
Cap rate 6.50%
Current NOI $312,500.00
Lease
Tenant's name Walgreen Company
Lease type NNN
Annual rent $312,500.00
Lease expiration date 12/31/2031
Remaining term 12.3Yrs

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