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340 N Main St
Kernersville, NC 27284 Downtown Kernersville

$5,915,000

Drugstore For Sale  •  14,820 Sq Ft

Property Details

  • Property Type Drugstore
  • Total Building Size 14,820 Sq Ft
  • Lot Size 1.91 ac
  • Building Class C
  • Year Built 2004
  • Cap Rate 6.00 %
  • Tenancy Multiple
  • Zoning HB RS7
18 Transit Score
70 Walk Score

Description

We are pleased to offer to qualified investors an opportunity to purchase an investment grade single tenant absolute NNN leased investment that is fully occupied by Walgreen Co. with 10+ years remaining on the base term and 10 - 5 year option periods Comprised of a 14,820 SF building and situated on a large 1.91 acre lot; the subject property benefits from its close proximity to I-40 Business - the main East/West thoroughfare leading to Greensboro, NC & Winston-Salem, NC - along with the diversified mix of commercial use types that surround the property including retail, industrial, medical, and office.

Highlights

Walgreens (NASDAQ: WBA) is rated “BBB” by S&P’s - Investment Grade Credit
Excellent Yr 1 Cash-on-Cash Return of 8.52%
10+ Years Remaining on the Base Term with 10 - 5 Year Option Periods
Absolute NNN Lease - Zero Landlord Responsibilities - Ideal 1031 Exchange Asset
Over $131 Billion in Corporate Revenue - Net Income Over $5 Billion
Ranked 17th in Fortune Global 500 - 2nd Largest Pharmacy Store Chain in U.S.

Property Flyers

Cap Rate: 6.00 %

Amenities

  • Dedicated Turn Lane
  • Pylon Sign
  • Signage
  • Drive Thru

Public Transportation

AirportDriveWalkDistance
Piedmont Triad International Airport 24 min - 13.9 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 65
Type: Surface
Included in Rent: Yes
Eric Carlton 949-724-5561 Colliers International
Eric Carlton 949-724-5561 Colliers International