525 N Cannon Blvd - Drug Store FOR SALE


Kannapolis, NC 28083
$9,600,000 USD
650-465-3993
525 N Cannon Blvd, Kannapolis, NC for Sale
$9,600,000 USD
Drug Store - FOR SALE
1/14
null | 5% Cap Rate

525 N Cannon Blvd
Kannapolis, NC 28083


HIGHLIGHTS

  • Absolute net lease with zero landlord responsibilities
  • 5% rent increases every 5 years with 15 years remaining
  • Investment grade credit tenant (S&P: BBB)
  • Strategically positioned off the signalized hard corner of Jackson Park Road & Cannon Boulevard which has a combined traffic count of 37,000 VPD

OVERVIEW

This absolute net lease investment offers a rare opportunity to acquire a property with zero landlord responsibilities, ensuring a truly passive income stream. The asset is backed by an investment-grade credit tenant (S&P: BBB), providing long-term financial security and stability for investors. With 15 years remaining on the primary lease term and structured 5% rent increases every five years, this property delivers predictable income growth and strong yield performance over time. Strategically located off the signalized hard corner of Jackson Park Road and Cannon Boulevard, the property benefits from exceptional visibility and accessibility. The intersection boasts a combined traffic count of approximately 37,000 vehicles per day, driving consistent customer flow and reinforcing the tenant’s operational success. This high-traffic location positions the asset within a robust trade area, ensuring long-term viability and tenant retention. This offering is ideal for investors seeking a low-risk, management-free property with a strong credit tenant and built-in rent escalations. The combination of a long-term lease, investment-grade credit, and a prime location makes this an attractive addition to any portfolio focused on stability and growth.

FOR SALE DETAILS

PRICE

$9,600,000 USD

PRICE/SF

$703 USD /SF

CAP RATE

5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Convenience Store, Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2012

SPRINKLERS

-

PARKING SPACES

104

LAND DETAILS

LAND ACRES

1.28 AC

LAND SF

55,757 SF

ZONING

C-2

APN/PARCEL ID

5624-01-9525-0000

ASK ABOUT THIS PROPERTY

Dean CopansStream Capital PartnersMore Info
650-465-3993

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Dean CopansStream Capital PartnersMore Info
650-465-3993

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.