1505 E Innes St - Drug Store FOR SALE


Salisbury, NC 28146
$5,333,000 USD
480-221-4221
1505 E Innes St, Salisbury, NC for Sale
$5,333,000 USD
Drug Store - FOR SALE
1/9
null | 6.75% Cap Rate

1505 E Innes St
Salisbury, NC 28146


HIGHLIGHTS

  • 12 Years Remaining | Options to Extend | Established Brand
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Strong Demographics in 5-Mile Trade Area | Direct Consumer Base | Charlotte MSA
  • Innes Street Market (349,000+ SF) | Dense Retail Corridor | Strong National/Credit Tenant Presence
  • Signalized, Hard Corner Intersection | Interstate 85 (83,000 VPD) |Excellent Visibility & Access

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Walgreens investment property located in Salisbury, North Carolina. The tenant, Walgreens, Inc has 12 years remaining on the initial lease with 10 (5-year) options to extend, demonstrating their commitment to the site. The lease features 5% increases at the beginning of each option, growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. Walgreens operates nearly 9,000 retail locations across the U.S. and Puerto Rico, Walgreens is proud to serve nearly 9 million customers and patients daily.

FOR SALE DETAILS

PRICE

$5,333,000 USD

PRICE/SF

$360 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Convenience Store, Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2006

SPRINKLERS

-

PARKING SPACES

65

LAND DETAILS

LAND ACRES

1.89 AC

LAND SF

82,328 SF

ZONING

CMX

APN/PARCEL ID

059-100

ASK ABOUT THIS PROPERTY

Patrick LutherSRS National Net LeaseMore Info
480-221-4221

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Patrick LutherSRS National Net LeaseMore Info
480-221-4221

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