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1115 Old Towne Rd Charleston, SC 29407

For Sale
$3,627,000

NNN Walgreens with rental increases in Charleston's high-traffic area.

Property size:
10,908 SF
Lot size:
1.21 Acres

Property Features for 1115 Old Towne Rd

General Information

Size
10,908 SF
Lot size
1.21 Acres

Source: Sands Investment Group (SIG) | Fort Lauderdale Agent Adam Scherr

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Charleston Walgreens NNN Investment Opportunity

This 10,908 square foot Walgreens property is located at 1115 Old Town Road in Charleston, SC. The NNN lease includes limited landlord responsibilities. The property features a rare 14.83% rental increase at the end of the remaining term and approximately 1.6% rent bumps on each of the option periods. The long-term tenant has been operating at this location since 1998. The property is positioned on a corner lot at a highly trafficked intersection near downtown Charleston, with easy access from major roads and highways, including proximity to Highway 17. The location has a dense population base with over 139,000 people within 5 miles and an affluent trade area with over $103,000 average household income within a 3-mile radius. Nearby retailers include Coastal Cardiology PA, Motion Dynamics Chiropractic, Little Caesars, Circle K, Taco Bell, and Affordable Dentures and Implants. The property is positioned near several healthcare facilities, including hospitals and clinics. The lease has 4 years remaining with four 5-year option periods. Walgreens is the second-largest pharmacy store chain in the United States.
Insight Report Location Intelligence

Current Use by Public Records

Walgreens Drug Store FedEx OnSite Mailing Service TD Bank ATM Atm COVID-19 Drive-thru Testing ... Pharmacy higi Health Consultant

Suggested Use

Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

Zoning and permitted uses should be independently verified with local authorities.

Similar Places Nearby

CVS Pharmacy, Jeffrey Floyd, Kendra Myers

Location Insight

  • Map
  • Local Demand
City
Charleston
County
Berkeley
State
South Carolina
Longitude
-79.9957849
Latitude
32.7969633

FAQs

What type of property is this?
Drug store - NNN Walgreens with rental increases in Charleston's high-traffic area.
Where is this drug store located?
The property is located at 1115 Old Towne Rd Charleston, SC.
What is the asking price?
The asking price for this property is $3,627,000.
What are key features of this property?
This property features: - Absolute NNN lease with limited landlord responsibilities.; - Corporate guaranteed lease featuring investment grade credit (S&P: BBB).; - Rare **14.83% rental increase** at the end of the remaining term and approximately 1.6% rent bumps on option periods.
More about this property
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