7501 Rivers Ave - Drug Store FOR SALE


North Charleston, SC 29406
$8,364,000 USD
980-498-3293
7501 Rivers Ave, North Charleston, SC for Sale
$8,364,000 USD
Drug Store - FOR SALE
1/4
null | 5.5% Cap Rate

7501 Rivers Ave
North Charleston, SC 29406


HIGHLIGHTS

  • Attractive Assumable Interest Only Debt
  • Top Performing Store in Charleston MSA
  • Over 4.7MSF of surrounding retail space

OVERVIEW

Top Performing Store - This location is in the top 60th percentile of Walgreens in the State - Very strong sales reporting Attractive Assumable Debt - Seller is offering interest-only assumable debt that is well below market interest rates (5.30%) - 5 Years Remain on the Interest Only Loan Located in Commercial Hub - Over 4.7MSF of retail space is located within a 1-mile radius - National tenants include: Walmart Supercenter, Target, Best Buy, Home Depot, and Lowes Home Improvement - Less than 0.5 miles to Northwoods Mall, a 411K SF enclosed shopping center Phenomenal Underlying Real Estate - Subject site is located at the lighted intersection of Ashley Phosphate Rd (73.2K VPD) and Rivers Ave (42.6K VPD) - Less than a half mile to I-26 (111k VPD), the main interstate to Charleston, SC Investment Grade Tenant - Absolute Net Lease signed with Walgreens Corporate - Walgreens’ has over 9K locations - Market Cap: $21.7B and credit rating of BBB (S&P) Charleston MSA - High Growth - Charleston, SC has had a 17.7% population change from 2010 to 2023 - Approximately 800K people live in the MSA

FOR SALE DETAILS

PRICE

$8,364,000 USD

PRICE/SF

$575 USD /SF

CAP RATE

5.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens | Charleston MSA

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Convenience Store, Supermarket

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2011

SPRINKLERS

-

PARKING SPACES

100

LAND DETAILS

LAND ACRES

2.5 AC

LAND SF

108,900 SF

ZONING

-

APN/PARCEL ID

484-16-00-031

ASK ABOUT THIS PROPERTY

David HoppeAtlantic Capital PartnersMore Info
980-498-3293

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David HoppeAtlantic Capital PartnersMore Info
980-498-3293

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