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Walgreens, Florence, SC

Walgreens

SC, United States

Price $7,300,000
Cap Rate
NOI
Lease Term 19 Years
Lease Type
Rental Increases None
Year Built 2015
Building Size 14,820 sq. ft.
Lot Size 1.77 Acres (77,101 sq. ft.)
Status Sold
Lead Broker Information Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Investment Highlights

HIGH-QUALITY, SINGLE TENANT INVESTMENT GRADE ASSET
» 100% Leased to Walgreens, Co. on a new 20-year NNN lease
» Corporate guaranty is rated “BBB” by Standard & Poor’s and is ranked 35th in the Fortune 500
» Walgreens and its affiliates operate over 9,480 locations across the United States

NEW CONSTRUCTION/SIGNALIZED HARD CORNER LOCATION (20,300 AADT)
» Walgreens is strategically located at the lighted intersection of S. Irby Street & Cherokee Road, offering excellent visibility and access
» Building was built in 2015 to tenant’s building specifications and features the latest Walgreens store prototype
» The store features a dedicated prescription drive-thru, providing additional convenience to customers

CLOSE PROXIMITY TO LARGEST MEDICAL PROVIDERS IN THE REGION
» Located just one mile northeast of the property is McLeod Regional Medical Center’s largest comprehensive care hospital in their network, which includes 450+ beds on a 75-acre campus
» The Carolinas Hospital System’s 420-bed healthcare facility is located just two miles southeast of the property
» Collectively, these medical care providers treat thousands of patients a year from more than eight surrounding counties

Click Here to Download Offering Memorandum


Property Description

SOLD

The subject property is located at the northeast corner of South Irby Street and Cherokee Road in the heart of Florence, SC. The property benefits from excellent frontage and access along the heavily trafficked South Irby Street (U.S. Highway 52), a major north-south arterial that boasts an annual average daily traffic count of approximately 20,300 vehicles in front of the site. Additionally, the immediate area’s strong presence of medical care providers generates a strong customer base for this Walgreens location. McLeod Regional Medical Center and Carolinas Hospital System, the largest providers of medical care in the area, are found within a two mile radius from the subject property. Located less than one mile northeast of the property is McLeod Regional Medical Center’s largest facility in their hospital network. The facility consists of a 453-bed comprehensive care hospital on a 75-acre campus. Less than two miles southeast of the property is Carolinas Hospital System’s 420-bed leading regional healthcare facility. Collectively, these medical care providers service thousands of patients a year and serve more than eight surrounding counties.

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