1019 Grandiflora Dr - Drug Store FOR SALE


Leland, NC 28451
$4,660,625 USD
619-297-0055
1019 Grandiflora Dr, Leland, NC for Sale
$4,660,625 USD
Drug Store - FOR SALE
1/2
null | 8% Cap Rate

1019 Grandiflora Dr
Leland, NC 28451


HIGHLIGHTS

  • Developments within 2 miles include Evolve at Waterford, Exchange at Westgate, Brunswick Forest and Inspire at Brunswick Forest totaling 1,178 units.
  • 1 million square feet of retail space in the immediate 1-mile radius anchored by Aldi, Harris Teeter and Walmart Supercenter.
  • Located on a signalized corner with frontage on Ocean Highway E (56,000 VPD) and with direct access to Andrew Jackson Highway NE (71,000 VPD).
  • Leland’s population increased 70% from 2010 to 2020 and is currently growing at a rate of 8.25% annually.
  • Positioned less than 2 miles from Novant Health Brunswick Forest Medical Plaza which services the Greater Leland market.
  • With a 2.5% corporate tax rate, North Carolina is ranked as one of the best business climates in the United States.

OVERVIEW

We are pleased to market for sale the Walgreens property located at 1019 Grandiflora Drive in Leland, North Carolina ("The Property"). Walgreens has been successfully operating at this location for 16 years and has 8.75 years of firm term remaining before the option periods on an absolute net lease with no landlord obligations whatsoever. Situated in the Wilmington MSA, the Property benefits by being in one of the fastest growing markets in North Carolina. Leland’s population has surged by 41% since the most recent Census in 2020 and is experiencing rapid new development. In 2023 alone, 464 new multi-housing units were constructed within 2 miles of the property, with an additional 714 units slated for completion in 2024. Over the last 5 years, 180,000 square feet of retail space has been added within a 1-mile radius of the Property, totaling over 1,000,000 existing square feet of retail. This is the primary retail hub west of Wilmington for over 44 miles until Whiteville. The Property is strategically located off Andrew Jackson Highway NE, with over 71,000 vehicles per day, serving as the main east/west connector between Wilmington and Charlotte. Listed in conjunction with Brian Brockman, Bang Realty, 513.898.1551, wg@bangrealty.com, NC DRE Lic. 2988998

FOR SALE DETAILS

PRICE

$4,660,625 USD

PRICE/SF

$315 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

High Density Walgreens NNN 8 CAP 8.75 Yr

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Convenience Store, Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

63

LAND DETAILS

LAND ACRES

1.72 AC

LAND SF

74,923 SF

ZONING

LE-PUD

APN/PARCEL ID

0470004508

ASK ABOUT THIS PROPERTY

Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

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Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.