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Walgreens
1006 Monroe Street, Carthage, NC, USA
Sands Investment Group is Pleased to Exclusively Offer For Sale the 11,368 SF Walgreens Absolute NNN Asset Located at 1006 Monroe Street in Carthage, NC. This Property is Under an Absolute NNN Lease, Ensuring Zero Landlord Responsibilities For Investors; Walgreens Covers All Expenses, Including Taxes, Insurance, and Maintenance, Making This a True Passive Income Opportunity While Providing For a Secured Investment.
Corporate-Backed Walgreens | Absolute NNN Lease | Essential Retail Investment
- Strong Sales Performance: Reported $8.89 million in annual sales, with a 2.36% rent-to-sales ratio, well below industry averages. Sales have grown 3.66% annually since 2017, demonstrating long-term success and stability.
- Recent 10-Year Lease Extension: Walgreens has shown commitment to this location with a 10-year lease extension, reflecting strong confidence in the site’s continued performance.
- Below Market Rent | Low Price Per SF: Walgreens is operating at a below-average rent, making this a low-rent, high-sales location with strong tenant profitability.
- Rare Rental Increases: The lease features rental increases of 5% in each option period, providing rent growth as opposed to a large portion of Walgreens leases that have flat rent structures.
Strategic Carthage, NC Location | Growing Market & Strong Demographics
- Limited Competition: This is the only national drugstore within a 10-mile radius, ensuring a dominant market position and reliable customer traffic.
- Strategic Positioning & Retail Synergy:
- Surrounded by national retailers such as Food Lion, McDonald’s, Dollar General, AutoZone, Hardee’s, Burger King, Bojangles, Sheetz and Subway, creating a strong consumer draw.
- Located along Monroe St (15,000+ VPD) with excellent visibility and accessibility.
- Growing Market & Strong Demographics:
- Population of 45,000+ residents within 10 miles, with above-average income levels exceeding $100,000.
- North Carolina is one of the fastest-growing states, fueling continued retail expansion
In Cooperation With Sands Investment Group North Carolina, LLC – Lic. #29362 BoR: Chris Sands – Lic. NC #300021
Walgreens
1006 Monroe Street, Carthage, NC, USA
WALGREENS
Walgreens Boots Alliance (NASDAQ: WBA) is a global leader in retail and wholesale pharmacy, touching millions of lives every day through dispensing and distributing medicines, its convenient retail locations, digital platforms and health and beauty products. The company has more than 100 years of trusted health care heritage and innovation in community pharmacy and pharmaceutical wholesaling. WBA’s purpose is to help people across the world lead healthier and happier lives. The company is proud of its contributions to healthy communities, a healthy planet, an inclusive workplace and a sustainable marketplace. The company’s businesses have been recognized for their Corporate Social Responsibility. Walgreens was named to FORTUNE* magazine’s 2019 Companies that Change the World list and Boots UK was recognized as Responsible Business of the Year 2019-2020 by Business in the Community.WBA is included in FORTUNE’s 2019 list of the World’s Most Admired Companies, ranked first in the food and drugstore category. This is the 26th consecutive year that WBA or its predecessor company, Walgreen Co., has been named to the list. Operating nearly 8,500 retail locations across America, Puerto Rico and the U.S. Virgin Islands, Walgreens is proud to be a neighborhood health destination serving nearly 10 million customers each day.
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Price
$2,937,062
Cap Rate
7.15%
PREMISES
11,368 SF
RENEWAL OPTIONS
4 x 5 Years Options
Lease Expiration
06/30/2035
Lease Type
Absolute NNN
RENTAL INCREASES
5% at Each Option
BROKERS
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To receive access to this OM, please review and sign our confidentiality agreement:
Sands Investment Group (“Broker”) is presenting for sale the Subject Property (“Property”) referenced above, by the Property’s owner (the “Owner”). Our agreement with the Owner requires that we obtain a Non-Disclosure before disclosing the name and location of his/her location of his/her business. The undersigned (“Recipients”) hereby acknowledge and agree that certain confidential information that has been or may be disclosed is intended solely for Recipients’ limited use in considering whether to pursue negotiations to acquire the Property.
Neither the Owner of the Property nor Broker or any of their respective officers, employees or agents, make any representation or warranty, expressed or implied, as to the accuracy or completeness of this confidential information and no legal liability is assumed or shall be implied with respect thereto. Information provided has been or will be gathered from sources that are deemed reliable; however, neither Owner nor Broker warrants or represents that the information is true or correct. Recipients are advised to verify information independently. Owner and/or Broker reserve(s) the right to change the Property’s purchase price, or any Property or market information provided, or to withdraw the Property from the market at any time without notice.
Recipients agree that the information provided by Broker is confidential and as such, agrees to hold and treat such information in the strictest of confidence. In addition, Recipients agree not to disclose, directly or indirectly, or permit anyone else to disclose this information to any person, firm or entity without prior written authorization of Owner or Broker and not use, or permit to be used this information in any fashion or manner detrimental to the interests of Owner or Broker. Photocopying or other duplication of such confidential information is strictly prohibited. Recipients agree not to contact the Property’s tenant(s), leasing brokers, or property management staff in connection with Recipients’ review of the Property or confidential information. IN ADDITION, THE CONFIDENTIAL INFORMATION SHALL NOT BE DEEMED AS REPRESENTATIVE OF THE STATE OF AFFAIRS OF THE PROPERTY OR CONSTITUTE AN INDICATION THAT THERE HAS BEEN NO CHANGE IN THE BUSINESS OR AFFAIRS OF THE PROPERTY SINCE THE DATE OR PREPARATION OF THE OFFERING MEMORANDUM.
While Owner and/or Broker may discuss the purchase and sale of the Property with Recipients, either Owner or Broker, in our sole and absolute discretion, may terminate sale discussions at any time and for any reason. Recipients acknowledge that neither Owner nor Broker has any obligation to discuss or agree to the sale of the Property. The acquisition discussions may be lengthy and complex. Notwithstanding that the parties may reach one or more oral understandings or agreements on one or more issues, neither of the parties shall be bound by any oral agreement of any kind, and no rights, claims, obligations or liabilities of any kind, either expressed or implied, shall arise or exist in favor of or be binding upon either Owner or Broker except to the extent expressly set out in a written agreement signed by both Owner and Broker.
This letter will further confirm that Recipients understand that Broker is presenting the information on the above-referenced Property and that Recipients agree that all initial correspondence and agreements pertaining to the opportunities and subsequent purchase shall be submitted through Agent. Prospective Buyer shall not contact the Owner directly unless given written permission by Agent or act either directly, indirectly, through any third parties including affiliates, other clients or other brokers to circumvent the purpose of this Agreement.
The term of this Agreement is for one (1) year from the date below, which shall be automatically extended through any ongoing negotiations, escrow periods or closing of any purchase and sales transaction(s) for the opportunity entered into by Prospective Buyer or its affiliates during the term hereof.
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