Walgreens Drug
New
For Sale
Contact for pricing
2758 S Main St, High Point, NC 27263
Retail property featuring an absolute net lease structure and a 10-year term.
Property Size14,490 SF
Price / SF$335.89
Days on Market6
Property Features for 2758 S Main St
General Information
Standard status
Active
Size
14,490 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute NNN
Investment Type
Net Lease
Net Operating Income
$438,000
Additional Details
Cap Rate
9%
Building Details
Year Built
2011
Buildings
1
Tenancy
Single
Listing Agency:
Marcus & Millichap - Hampton Roads
(262) 364-1930
Listed By:
Charles Gallagher · License #351471
Source:
Crexi
Added: Aug 4
Changed: Aug 9
Last Checked: Aug 9 at 8:10AM
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 Marcus & Millichap - Hampton Roads
Investment Insights
Based on property information with market context.
This Walgreens drug store comprises 14490 square feet and was constructed in 2011. The property is offered with an absolute net lease structure and a 10-year term, providing a defined contractual framework for the occupant and ownership.
Located at 2758 S Main St in High Point, NC 27263, the asset is presented as a single-purpose retail property. The stated 9% cap rate and established Walgreens tenancy position the building for evaluation by buyers seeking a leased drug store asset.
Located at 2758 S Main St in High Point, NC 27263, the asset is presented as a single-purpose retail property. The stated 9% cap rate and established Walgreens tenancy position the building for evaluation by buyers seeking a leased drug store asset.
Key Highlights
- Walgreens drug store with 14490 SF of building area
- Constructed in 2011
- Absolute net lease structure
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
$202,396
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
4.16%
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%
$4,047,920
$4.0M
Cap Rate 7%
$2,891,371
$2.9M
Cap Rate 9%
$2,248,844
$2.2M
Market Conditions
NOI Build-Up for 14,490 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
$278.2K $19.20/SF
− Vacancy
−$8.3K −$0.58/SF
EGI
$269.9K $18.62/SF
− OpEx
−$67.5K −$4.66/SF
NOI
$202.4K $13.97/SF
Area
High Point, NC
Vacancy
3.00%
Lease Rate
$19.20 /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%
$4,047,920
Cap Rate 7%
$2,891,371
Cap Rate 9%
$2,248,844
Alternative Uses
Best Use
Specialty Retail
$2.89M
$2.53M – $3.37M
NOI $202,396 @ 7.0% cap · market cap 4.16%
Second Best
Retail
$2.53M
$2.21M – $2.95M
NOI $177,097 @ 7.0% cap · market cap 3.64%
Theoretical Best
Office A
$3.73M
$3.27M – $4.36M
NOI $261,399 @ 7.0% cap · market cap 5.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
541
Businesses Nearby
4k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Family Dollar
Shops & Services
3,687 visits/mo
0.1 miles
Demographics for 27263, NC
21,613
Population
8,938
Households
2.4
Avg Household Size
42
Median Age
18%
College-Educated
82%
High-School Grad
39.0 sq mi
ZIP Area
554
Density / Sq Mi
$52,637
Median Household Income
$33,637
Median Earnings
$924
Median Rent
$171,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Trent R. Steffen, BS — 11220 N Main St, Archdale, NC 27263
- Mathew R. Weist, PharmD — 11220 N Main St, Archdale, NC 27263, United States
- Archdale Drug — 11220 N Main St, Archdale, NC 27263
- Barton Adkins — 11220 N Main St, Archdale, NC 272632891
- Christopher Nichols — 11220 N Main St, Archdale, NC 272632891
Frequently Asked Questions
What type of property is this?
Drug store - Retail property featuring an absolute net lease structure and a 10-year term.
Where is this drug store located?
The property is located at 2758 S Main St High Point, NC.
What is the asking price?
The asking price for this property is $4,867,000.
What are key features of this property?
This property features: Walgreens drug store with 14490 SF of building area; Constructed in 2011; Absolute net lease structure
