Join Our Email List

x
By submitting, you're allowing YAFC Team to email you regarding available listings. You can unsubscribe anytime.

Submit Your 1031 Exchange Requirements

x

Walgreens, Monroe, NC

Walgreens

NC, United States

Price $8,374,000
Cap Rate
NOI
Lease Term 17 Years Remaining
Lease Type
Rental Increases
Year Built 2009
Building Size 14,737 SF
Lot Size 2.03 Acres (88,427 SF)
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

LONG-TERM, ABSOLUTE NNN LEASE TO INVESTMENT GRADE TENANT
» Absolute NNN lease requires no landlord management, ideal for an out-ofarea investor
» Walgreens Boots Alliance, Inc. is rated “BBB/Stable” by Standard & Poor’s and is ranked 17th in the Fortune 500
» Walgreens is the largest drugstore chain in the U.S. based on prescription sales
» Walgreens plans to purchase 2,000+ Rite Aid stores, making it the largest drugstore chain in the U.S. by number of locations, with over 10,200 stores

HIGH-TRAFFIC LOCATION WITH LARGE CUSTOMER BASE
» High volume location – 24-hour store
» Located at signalized hard corner with excellent visibility and access to 49,000 vehicles per day
» Directly adjacent to Carolinas HealthCare System Union (175 beds, 575 employees, and 76,800 emergency room visits per year), providing a large, nearby customer base for Walgreen’s pharmacy services
» Close proximity to Union County’s largest manufacturing employers, Tyson Foods (1,550 employees) and ATI (1,400 employees)
» Near several schools, including Monroe High School (1,000+ students), Wingate University (3,100+ students), and South Piedmont Community College (12,050+ students)

PRIME LOCATION IN CHARLOTTE MSA
» Located 26 miles from Charlotte, the largest city in North Carolina and the third fastest growing major city in the U.S.
» Union County is one of the fastest growing counties in North Carolina

Click Here to Download Offering Memorandum


Property Description

SOLD

The property is located at the signalized hard corner of Sutherland Avenue and Roosevelt Boulevard, with excellent visibility and access to 49,000 vehicles per day. The property is located in a major retail and commercial corridor, with close proximity to several large shopping centers and notable national tenants. The property is located near Monroe Crossing, a regional mall anchored by Sears, JCPenney, and Belk. The mall, which underwent a complete renovation in 2008, offers a wide variety of well-known and specialty shops, including Cato, GameStop, Hibbett Sports, Jo-Ann Fabrics, Planet Fitness, Shoe Carnival, and GNC. Other major retailers near the property include Target, Tractor Supply, OfficeMax, Rite Aid, T.J. Maxx, Food Lion, Family Dollar, Bank of America, NAPA Auto Parts, and many more.

The property is centrally located in a bustling commercial area and benefits from a large customer base. The property is directly adjacent to a 175-bed hospital with approximately 575 employees that is part of the Carolinas HealthCare System, the Charlotte MSA’s largest employer. The hospital’s emergency room is visited by more than 76,800 patients per year, providing a large, nearby customer base for Walgreen’s pharmacy services. The property is also next to a large industrial park, which houses the industrial operations of Tyson Foods, ATI, and other companies. Both Tyson Foods and ATI are major employers in Union County, with a combined workforce of 2,950 employees. Several schools are also located near the property, including Monroe High School, which is located within walking distance and has an enrollment of more than 1,000 students. Other schools in the area include Wingate University, with more than 3,100 students, and South Piedmont Community College, with over 12,050 students.

Contact Us About This Property

Mike Form
Sending
JOIN OUR
EMAIL LIST
SUBSCRIBE
Receive Our Latest Single and Multi-Tenant Listings
close-link