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    1170 Marion St Shelby, NC 28150

    For Sale
    $3,750,000

    High-growth area, NNN lease, strong tenant.

    Property size:
    14,673 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional investment opportunity presents a 14,673-square-foot, single-tenant Walgreens located at 1170 E Marion St, Shelby, NC, within the Charlotte MSA. The property sits on approximately 1.52 acres and benefits from a prominent, signalized corner location with high traffic counts and favorable demographics. The absolute NNN lease structure eliminates landlord responsibilities, providing a passive income stream. The tenant, Walgreens, boasts a BBB Standard & Poor's credit rating, ensuring investment-grade security. The lease features a significant remaining term of 4.2 years, extending to January 30, 2029, with six 5-year renewal options, each including a rare 10% rent escalation. The property is zoned for General Business use and offers a compelling cap rate of 6.90% at an asking price of $3,750,000 ($255/sq ft). This location is situated within an Opportunity Zone, potentially offering additional tax advantages for qualified investors. The property's strong tenant, long lease term, and attractive financial metrics make it an ideal addition to any diversified real estate portfolio. This is a rare opportunity to acquire a high-quality, single-tenant net-leased property in a rapidly growing market.

    Property Features for 1170 Marion St

    General Information

    Property type
    Individual retail properties
    Square Feet
    14,673 SF

    Building Details

    Buildings
    1
    Stories
    1

    HighLights

    • $3,750,000 asking price for a Walgreens‑occupied retail property.
    • Absolute NNN lease with a single tenant (Walgreens).
    • 4.2 years remaining lease term with six 5‑year options, including rare 10% rent escalations.
    • 14,673 square feet on approximately 1.52 acres in Shelby, NC (Charlotte MSA).
    • 6.90% cap rate and $255 per square foot price.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Walgreens Photo Passport Photo Processor Chrissie D. Hoyle, ... Pharmacy Robert D. Hall, ... Pharmacy higi Health Consultant FedEx OnSite Mailing Service

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Shelby
    County
    Cleveland
    State
    North Carolina
    Longitude
    -81.512368554015
    Latitude
    35.295250521301

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    FAQs

    What type of property is this?
    Individual retail property - High-growth area, NNN lease, strong tenant.
    Where is this individual retail property located?
    The property is located at 1170 Marion St Shelby, NC.
    What is the asking price?
    The asking price for this property is $3,750,000.
    What are key features of this property?
    This property features: $3,750,000 asking price for a Walgreens-occupied retail property.; Absolute NNN lease with a single tenant (Walgreens).; 4.2 years remaining lease term with six 5-year options, including rare 10% rent escalations.
    (919) 582-3143
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    1170 Marion St Shelby, NC 28150
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    Shelby, NC 28150
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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
    1170 Marion St Shelby, NC 28150
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