5917 High St - Drug Store FOR SALE


Portsmouth, VA 23703
$3,672,000 USD
415-577-9311
5917 High St, Portsmouth, VA for Sale
$3,672,000 USD
Drug Store - FOR SALE
1/2
null | 10% Cap Rate

5917 High St
Portsmouth, VA 23703


HIGHLIGHTS

  • Absolute Net Lease - zero landlord responsibilities
  • Strong store sales over $2.9M
  • Walgreens will add 6 years of firm term for ~300k
  • 15 miles from Norfolk International Airport
  • Preferred 5-year option structure
  • Full Walgreens corporate guaranty

OVERVIEW

This is an excellent opportunity for an investor to acquire a freestanding NNN Walgreens in the historic city of Portsmouth, VA, just 15 miles from Norfolk International Airport. Walgreens has operated at this location since 2004, and recently extended the lease, demonstrating their commitment to the location and the strength of the store (reported store sales figures are over $2.9M). The prototypical Walgreens, with drive-thru, is situated at the signalized corner of High Street W (Hwy 17) and Tyre Neck Rd. with neighboring retailers including: AutoZone, Starbucks, Aldi, Great Clips, Hardee’s and many more.

FOR SALE DETAILS

PRICE

$3,672,000 USD

PRICE/SF

$253 USD /SF

CAP RATE

10%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

$100k Co-Broke Fee: NNN Walgreens

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2004

SPRINKLERS

-

PARKING SPACES

53

LAND DETAILS

LAND ACRES

1.76 AC

LAND SF

76,666 SF

ZONING

GMU

APN/PARCEL ID

0816-0022

ASK ABOUT THIS PROPERTY

John GiordaniDrugstore Property AdvisorsMore Info
415-577-9311

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John GiordaniDrugstore Property AdvisorsMore Info
415-577-9311

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