Walgreens

1812 Holloway St. Durham, NC 27703

  • 11,481 Square Feet
  • Retail
  • For Sale

Summary Description

We are pleased to offer to qualified investors an opportunity to purchase a single tenant (land and building) absolute NNN Walgreens (NYSE: WAG), strategically positioned on a hard corner with excellent site fundamentals and a rare rental increase schedule: 5% increases every 5 years. The property, which commands excellent visibility, access, parking and a Drive-Thru lane, was built in 2006 and is on an absolute NNN fee simple lease (includes ownership of land and building). The subject building is situated on a 1.83 acre lot, providing strong residual value. The lease offers investors a term that expires in 2051, with right of termination once every 5 years beginning in April 2031 (equates to approximately 15 years of fixed term). The building is comprised of 11,481 square feet and, at this location, annual sales are approximately $6.5 million, which is representative of above-average sales volume.

Property Status: Rare 5% Increase Every 5 Years

Price: $7,264,000.00

Building Size: 11481 Square Feet

Area Available: 11,481 Square Feet

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