NNN Property with Drive-Through
For Sale
Contact for pricing
2904 Arendell St, Morehead City, NC 28557
Freestanding pharmacy asset with a corporate lease and prominent Arendell Street exposure.
Property Size13,813 SF
Lot Size1.00 Acre
Days on Market144
Property Features for 2904 Arendell St
General Information
Standard status
Active
Size
13,813 SF
Lot size
1.00 Acre
Property subtype
Retail
Financials
Asking Price
$5,033,583
Cap Rate
6.25%
Site & Location
Drive-Thru
Yes
Anchor Co-Tenants
Lowes Foods, Big Lots, Tractor Supply Co, Tuesday Morning, Rent-A-Center, Hardee's
Traffic Count
60,000 vehicles/day
Building Details
Buildings
1
Tenancy
Single
Listing Agency:
Commercial Real Estate Exchange Inc
Listed By:
Yannis Papadakis · License #CA BRE01957169
Source:
Crexi
Added: Apr 10
Changed: Aug 30
Last Checked: Aug 30 at 6:32PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Commercial Real Estate Exchange Inc
Investment Insights
Based on property information with market context.
This 13,813-square-foot pharmacy occupies a ±1-acre out parcel at Morehead Plaza Shopping Center. The property includes a drive-through pharmacy and is leased to Rite Aid under an absolute triple-net structure. The lease provides four five-year renewal options with two percent increases.
The site is positioned along Arendell Street at Wallace Road, with visibility to approximately 60,000 vehicles per day. Morehead Plaza is a ±200,000-square-foot grocery-anchored shopping center with Lowes Foods, Big Lots, Tractor Supply Co., Tuesday Morning, Rent-A-Center, and Hardee’s. A BB&T Bank branch is directly adjacent to the parcel.
The site is positioned along Arendell Street at Wallace Road, with visibility to approximately 60,000 vehicles per day. Morehead Plaza is a ±200,000-square-foot grocery-anchored shopping center with Lowes Foods, Big Lots, Tractor Supply Co., Tuesday Morning, Rent-A-Center, and Hardee’s. A BB&T Bank branch is directly adjacent to the parcel.
Key Highlights
- 13,813‑square‑foot pharmacy on a ±1‑acre out parcel
- Absolute triple‑net corporate lease with Rite Aid
- Four five‑year renewal options with two percent increases
Property Analytics
Property Profile
Current Use
Lease Details
60,000 VPD
Traffic count
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
524
Businesses Nearby
93k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 34%
Groceries 26%
Home Improvements & Furnishings 18%
Superstores 15%
Lowes Foods
Groceries
24,367 visits/mo
0.2 miles
Big Lots
Superstores
13,832 visits/mo
0.2 miles
Tractor Supply Co.
Home Improvements & Furnishings
11,901 visits/mo
0.2 miles
Dollar Tree
Shops & Services
11,535 visits/mo
0.1 miles
Dollar General
Shops & Services
7,907 visits/mo
0.3 miles
Demographics for 28557, NC
14,910
Population
9,168
Households
1.6
Avg Household Size
50
Median Age
40%
College-Educated
93%
High-School Grad
14.2 sq mi
ZIP Area
1,050
Density / Sq Mi
$67,753
Median Household Income
$38,534
Median Earnings
$1,143
Median Rent
$331,800
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Freestanding pharmacy asset with a corporate lease and prominent Arendell Street exposure.
Where is this nnn property located?
The property is located at 2904 Arendell St Morehead City, NC.
What are key features of this property?
This property features: 13,813‑square‑foot pharmacy on a ±1‑acre out parcel; Absolute triple‑net corporate lease with Rite Aid; Four five‑year renewal options with two percent increases
