840 Nc-24 Albemarle, NC 28001

Property Details for 840 Nc-24

Year built

2008

Property size

14,634 SF

Property type

Retail properties

Property subtype

Drug stores

Description

This exceptional investment opportunity presents a fee-simple interest in a 14,634-square-foot Walgreens located at 840 NC-24, Albemarle, North Carolina, 28001. Built in 2008, this single-tenant, freestanding building sits on a 2.763-acre lot and enjoys a true hard corner location with excellent multi-directional visibility. The property benefits from a long-term, absolute NNN lease with Walgreens, eliminating landlord responsibilities and offering a passive investment. The current lease has 9 years remaining, providing significant lease stability. The property boasts a strong financial profile, including a $4,212,500 asking price, $337,000 net operating income (NOI), and an 8.00% cap rate. The price per square foot is $287.86. The property's strategic location along North Carolina Highway 24 and its position within the attractive Charlotte MSA further enhance its investment appeal. With 100% occupancy and a proven operating history, this Walgreens represents a compelling opportunity for discerning investors seeking a stable, high-yield retail asset. The property is situated in a primary retail corridor of Albemarle, ensuring consistent customer traffic and strong sales performance. This is a fee simple ownership.

Location Insight

City

Albemarle

County

Stanly

State

North Carolina

Longitude

-80.1656

Latitude

35.3484