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1006 Monroe St
Carthage, NC 28327

$2,800,000 USD

Freestanding For Sale  •  11,368 SF

Property Details

  • Property Type Freestanding
  • Total Building Size 11,368 SF
  • Lot Size 1.23 AC
  • Building Class C
  • Year Built 1998
  • Cap Rate 7.50 %
  • Tenancy Single
  • Zoning HC
0 Transit Score
43 Walk Score

Highlights

Reported $10.1 million in annual sales, with a 2.06% rent-to-sales ratio, well below industry averages. Sales have grown 3.66% annually since 2017
Walgreens has shown commitment to this location with a 10-year lease extension, reflecting strong confidence in the site's continued performance
Walgreens is operating at a below-average rent, making this a low-rent, high-sales location with strong tenant profitability
The lease features rental increases of 5% in each option period, providing rent growth as opposed to a large portion of Walgreens
This is the only national drugstore within a 10-mile radius, ensuring a dominant market position and reliable customer traffic
Walgreens Positioned Near the Renowned Pinehurst Golf Course.
Cap Rate: 7.50 %

Major Tenants

Tenant SF Occupied Lease End Date
Walgreens 11,368 SF 6/30/2035

Amenities

  • Corner Lot
  • Drive Thru

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 30
Type: Surface
Included in Rent: Yes
Jacob Strahler 305-697-3197 Sands Investment Group
Jacob Strahler 305-697-3197 Sands Investment Group