Walgreens on Sugar Creek
For Sale
$5,220,000
2200 W Sugar Creek Road, Charlotte, NC 11396
Neighborhood pharmacy with drive-thru in a growing Charlotte location.
Property Size14,820 SF
Days on Market88
Property Features for 2200 W Sugar Creek Road
General Information
Standard status
Active
Size
14,820 SF
Property subtype
Retail - Freestanding
Building Details
Building Size
14,820 SF
Listing Agency:
RX Syndicate
Listed By:
Arthur Griffith · License #01876378
Source:
Commercialcafe
Added: May 14
Changed: Aug 8
Last Checked: Jul 16 at 9:30AM
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 RX Syndicate
Investment Insights
Based on property information with market context.
The Walgreens property at 2200 W Sugar Creek Rd is a neighborhood pharmacy situated at a signalized intersection along West Sugar Creek Road, a primary East West arterial serving north Charlotte and the Derita submarket. The store benefits from strong visibility, convenient access, and drive-thru pharmacy service, catering to a dense surrounding residential area with daily commuter traffic. Surrounded by established neighborhoods and supported by essential-use retail demand, this Walgreens functions as a recession-resilient community anchor in a stable Charlotte trade area. West Sugar Creek Road sees approximately 20,000+ vehicles per day. The property is near national retailers, including a Walmart Supercenter, grocery-anchored shopping centers, dollar stores, and quick-service restaurants. The lease features an absolute net structure, with zero landlord responsibilities. Over 9 years remain on the primary term, backed by a full Walgreens corporate guaranty. Charlotte is the largest metro area in the Carolinas and remains one of the fastest growing major cities in America. It's also won numerous awards for quality of life, job opportunities and tech growth.
Key Highlights
- Absolute Net Lease with zero landlord responsibilities, providing a passive investment.
- Over 9 years remaining on the primary lease term, backed by a full Walgreens corporate guaranty.
- Located at a signalized intersection on West Sugar Creek Road (20,000+ vehicles per day), offering strong visibility and convenient access.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$286,100
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.48%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,722,000
$5.7M
Cap Rate 7%
$4,087,143
$4.1M
Cap Rate 9%
$3,178,889
$3.2M
Market Conditions
NOI Build-Up for 14,820 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$391.2K $26.40/SF
− Vacancy
−$9.8K −$0.66/SF
EGI
$381.5K $25.74/SF
− OpEx
−$95.4K −$6.44/SF
NOI
$286.1K $19.31/SF
Area
Charlotte, NC
Vacancy
2.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,722,000
Cap Rate 7%
$4,087,143
Cap Rate 9%
$3,178,889
Alternative Uses
Best Use
Specialty Retail
$4.09M
$3.58M – $4.77M
NOI $286,100 @ 7.0% cap · market cap 5.48%
Second Best
Retail
$3.54M
$3.10M – $4.14M
NOI $248,131 @ 7.0% cap · market cap 4.75%
Theoretical Best
Office A
$4.94M
$4.32M – $5.76M
NOI $345,456 @ 7.0% cap · market cap 6.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
261
Businesses Nearby
47k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 63%
Shops & Services 26%
Dining 11%
Home Improvements & Furnishings 1%
Food Lion Grocery Store
Groceries
29,334 visits/mo
0.2 miles
BP
Shops & Services
9,848 visits/mo
0.5 miles
Dunkin' Donuts
Dining
5,164 visits/mo
0.1 miles
Marathon Petroleum
Shops & Services
2,190 visits/mo
0.3 miles
United Rentals
Home Improvements & Furnishings
307 visits/mo
0.4 miles
Market
Vacancy Rate% for Retail in Charlotte, NC
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Walgreens Pharmacy — 2200 W Sugar Creek Rd, Charlotte, NC 28262
- ARDYSS INTERNATIONAL — 1917 Aberglen Dr, Charlotte, NC 28262
- COVID-19 Drive-Thru Testing at Walgreens — 2200 W Sugar Creek Rd, Charlotte, NC 28262
- YHWH's Armor — 1408 sage stone ct, charlotte, nc 28262
- Mylien Truong — 5740 N Graham St, Charlotte, NC 282694839
Frequently Asked Questions
What type of property is this?
Drug store - Neighborhood pharmacy with drive-thru in a growing Charlotte location.
Where is this drug store located?
The property is located at 2200 W Sugar Creek Road Charlotte, NC.
What is the asking price?
The asking price for this property is $5,220,000.
What are key features of this property?
This property features: Absolute Net Lease with zero landlord responsibilities, providing a passive investment.; Over 9 years remaining on the primary lease term, backed by a full Walgreens corporate guaranty.; Located at a **signalized intersection** on West Sugar Creek Road (20,000+ vehicles per day), offering strong visibility and convenient access.
