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    717 Broad St Edenton, NC 27932

    For Sale
    $4,923,567

    Prime NC Retail Net Lease, 10.8 Years Left

    Property size:
    14,821 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional investment opportunity presents a fee-simple interest in a 14,821-square-foot Walgreens pharmacy in Edenton, North Carolina. The property, built in 2010, sits on a 2.15-acre lot at the signalized intersection of North Broad and Virginia Streets, boasting high traffic counts of 11,000 vehicles per day. Located just blocks from ECU Health Chowan Hospital, this strategically positioned retail asset benefits from proximity to other national retailers including CVS, Taco Bell, McDonald's, Dairy Queen, Sherwin-Williams, and Food Lion. The property is subject to an absolute triple-net (NNN) lease with a corporate guarantee from Walgreens, offering significant security and stability. The current lease, commenced September 1, 2010, has a remaining term of 10.8 years, extending to August 31, 2035, with options for renewal through August 2085. The asking price is $4,923,567, representing a price per square foot of $332.20 and a 7.85% cap rate based on a net operating income (NOI) of $386,500. The property enjoys 100% occupancy since its opening date of September 1, 2010. This is a rare opportunity to acquire a high-performing, long-term net lease investment in a strong retail location.

    Property Features for 717 Broad St

    General Information

    Property type
    Individual retail properties
    Square Feet
    14,821 SF
    Lot Size
    93,654 SF

    Building Details

    Year Built
    2010

    HighLights

    • Fee‑simple interest in a 14,821‑square‑foot Walgreens, Edenton, NC.
    • Located at the signalized intersection of North Broad and Virginia Streets, with 11,000 VPD.
    • Blocks from ECU Health Chowan Hospital and other national retailers.
    • NNN lease with corporate guarantee; 10.8 years remaining, options to 2085.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Walgreens Pharmacy Pharmacy Walgreens Photo Passport Photo Processor Walgreens Cosmetics Store Jenny Bright, PharmD Pharmacy Western Union Money Transfer Service

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Edenton
    County
    Chowan
    State
    North Carolina
    Longitude
    -76.605558283788
    Latitude
    36.069203463592

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    FAQs

    What type of property is this?
    Individual retail property - Prime NC Retail Net Lease, 10.8 Years Left
    Where is this individual retail property located?
    The property is located at 717 Broad St Edenton, NC.
    What is the asking price?
    The asking price for this property is $4,923,567.
    What are key features of this property?
    This property features: Fee-simple interest in a 14,821-square-foot Walgreens, Edenton, NC.; Located at the signalized intersection of North Broad and Virginia Streets, with 11,000 VPD.; Blocks from ECU Health Chowan Hospital and other national retailers.
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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
    717 Broad St Edenton, NC 27932
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