Current Use by Public Records
- Isalis / (Bike/Boat/Book/etc) Store
- Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
- Skunk Funk / Big Box & Wholesale Store
- Carl's Trading Co / Hat Shop
- Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store
Property Details for 840 Nc-24
- Year built
- 2008
- Property type
- Retail properties & Spaces
- 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.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Albemarle
- County
- Stanly
- State
- North Carolina
- Longitude
- -80.1656
- Latitude
- 35.3484
