7501 Rivers Ave North Charleston, SC 29406
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High-yield Walgreens, Charleston, SC
Property size:
14,550 SFProperty 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
Listing Agency: Atlantic Capital Partners Listing Agent: David Hoppe
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
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 Profile
Insight Report
Location Intelligence
Current Use by Public Records
Drug stores
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.
