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    7501 Rivers Ave North Charleston, SC 29406

    Sponsored
    For Sale
    $8,364,000

    High-yield Walgreens, Charleston, SC

    Property size:
    14,550 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a fee-simple, 14,550-square-foot Walgreens located at 7501 Rivers Ave, North Charleston, SC 29406. The property boasts a 5.50% cap rate and a strong net operating income (NOI) of $460,000. Built in 2011, this Class A, single-story building sits on a 2.5-acre lot and benefits from a 100% occupancy rate with a corporate-guaranteed, absolute NNN lease. The lease features a remaining term of 64 years, providing exceptional long-term stability. A significant advantage is the assumable interest-only loan with five years remaining at a below-market interest rate of 5.30%. The property is strategically positioned in a high-traffic commercial hub, less than half a mile from I-26 and near major retailers like Walmart, Target, and Best Buy, as well as Northwoods Mall. This location is within the top 60th percentile of Walgreens stores in South Carolina, demonstrating exceptional performance. The Charleston MSA exhibits robust growth, with a 17.7% population increase from 2010 to 2023, further solidifying the investment's potential. The asking price is $8,364,000, translating to a price per square foot of $574.85. This is a rare opportunity to acquire a high-performing, investment-grade retail property with significant long-term upside.

    Property Features for 7501 Rivers Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    14,550 SF
    Class
    A
    Lot Size
    108,900 SF

    Building Details

    Year Built
    2011
    Buildings
    1
    Stories
    1

    HighLights

    • Top‑performing Walgreens location in the state's top 60th percentile.
    • Assumable interest‑only loan at 5.30% with five years remaining.
    • High‑traffic commercial hub with over 4.7 MSF of retail within 1 mile, including Walmart, Target, Best Buy, Home Depot, and Lowe's. Less than 0.5 miles from Northwoods Mall.
    • High‑visibility location at the lighted intersection of Ashley Phosphate Rd (73.2K VPD) and Rivers Ave (42.6K VPD), less than half a mile from I‑26 (111k VPD).
    • Absolute NNN lease with Walgreens Corporate, a company with over 9,000 locations, $21.7B market cap, and a BBB S&P credit rating.
    • High‑growth Charleston MSA with a 17.7% population increase from 2010 to 2023, approximately 800,000 residents.
    Property Profile Location Intelligence

    Current Use by Public Records

    Drug stores

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Hair Salon Clothing Store Nail Salon Food Market Grocery Store Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    North Charleston
    County
    Charleston
    State
    South Carolina
    Longitude
    -80.039764902923
    Latitude
    32.937517966014

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    FAQs

    What type of property is this?
    Individual retail property - High-yield Walgreens, Charleston, SC
    Where is this individual retail property located?
    The property is located at 7501 Rivers Ave North Charleston, SC.
    What is the asking price?
    The asking price for this property is $8,364,000.
    What are key features of this property?
    This property features: Top-performing Walgreens location in the state's top 60th percentile.; Assumable interest-only loan at 5.30% with five years remaining.; High-traffic commercial hub with over 4.7 MSF of retail within 1 mile, including Walmart, Target, Best Buy, Home Depot, and Lowe's. Less than 0.5 miles from Northwoods Mall.
    Request Owner's contact information
    7501 Rivers Ave North Charleston, SC 29406
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    North Charleston, SC 29406
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    7501 Rivers Ave North Charleston, SC 29406
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