1170 E Marion St - Drug Store FOR SALE
Shelby, NC 28150 |
$3,750,000 USD
919-455-3995
1170 E Marion St
Shelby, NC 28150
HIGHLIGHTS
- ±14,725 SF freestanding vacant Walgreens on ±1.52 acres
- Signalized corner site bordered by three streets with three points of ingress/egress
- Strong traffic counts: E Marion St (~13,000 AADT) and Cherryville Rd (~11,000 AADT)
- Updated to Walgreens’ newer prototype format in 2018
- Average household income of ~$82,000 within a 1-mile radius
OVERVIEW
- Single-tenant net lease Walgreens investment located in Shelby, NC (Charlotte MSA)
- Walgreens vacated in March 2024; lease remains in place through January 31, 2029
- Investment-grade tenant (Walgreens Boots Alliance – BBB / Baa2 credit)
- Rare 10% rent escalations in renewal option periods
- Located in an Opportunity Zone
FOR SALE DETAILS
PRICE
$3,750,000 USD
PRICE/SF
$256 USD /SF
CAP RATE
6.9%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Walgreens
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Drug Store
ADD'L SUBTYPES
Freestanding
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
2008
SPRINKLERS
-
PARKING SPACES
99
LAND DETAILS
LAND ACRES
1.52 AC
LAND SF
66,211 SF
ZONING
GB
APN/PARCEL ID
26771
ASK ABOUT THIS PROPERTY
Please correct the highlighted field(s).
919-455-3995
By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.
Please correct the highlighted field(s).
919-455-3995
By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.
