Walgreens

Retail

201 WB Mclean Dr Cape Carteret, North Carolina
Price:
$ 4,734,208
Property Size:
14,820 sqft
Cap Rate:
6.25
NOI:
$ 295,888
Year Built:
2008
Status:
Sold

CORPORATE GUARANTEED LEASE
The lease is 100% guaranteed by Walgreen Co., which holds an S&P: BBB credit rating.

14 YEARS OF PRIMARY TERM REMAINING
The subject property boasts a long term absolute NNN Lease, with approximately 14 years remaining of primary term.

STRONG PERFORMING LOCATION
The subject property boasts excellent store sales with limited market competition.

HARD CORNER
The asset is located in the heart of Cape Carteret, and approximately 2.5 miles from North Carolina’s coast. The subject property is well positioned at the corner of WB McLean Drive and HWY 58, with a combined traffic count of 26,758 vehicles per day. Other major credit tenants in the area include Hardee’s, McDonald’s, Subway, Lowe’s Home Improvement, and Lowes Foods of Cape Carteret, respectively.

COASTAL NORTH CAROLINA MARKET
The subject property is well located in North Carolina’s highly coveted coastal area and enjoys a dense population of both tourists and residents ($77,027 average household area in a five-mile radius, which is projected to grow at a rate of 2.53% over the next five years).

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The information contained herein has been obtained from sources deemed reliable or implied, is made with respect to such information. Terms of sale or lease and availability are subject to change or withdrawal without notice.

Exclusive Listing

Matt Berres
Executive Managing Director
949.608.2066

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