218 Doctor M.l.k. Jr Blvd Roseboro, NC 28382

Property Details for 218 Doctor M.l.k. Jr Blvd

Year built

2010

Lot size

1.34 lot acres

Property size

9,508 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a fee-simple ownership of a Walgreens pharmacy and storefront located at 218 E Doctor M.L.K. Jr Blvd, Roseboro, NC 28382. The property, built in 2010, boasts 9,508 square feet on a 1.34-acre lot and enjoys a prominent position as an outparcel to a Food Lion grocery store, situated along a major retail thoroughfare. The Walgreens tenant, a nationally recognized brand, has occupied the space since December 27, 2013, under an absolute NNN lease with a corporate guarantee. A recent lease extension ensures occupancy through June 30, 2038, providing a remaining lease term of 13.6 years, with eleven five-year renewal options. The property generates a strong net operating income (NOI) of $207,216, resulting in a 7.25% cap rate. The property benefits from excellent visibility and accessibility, serving a dense residential community and school district. Nearby businesses include O'Reilly Auto Parts, Dollar General, Carlie C's, Roses Express, and Cork & Brew. Data indicates significant foot traffic in the area, with approximately 143,900 visits to the Walgreens location and 460,700 visits to the adjacent Food Lion over the past 12 months. This property is also available as part of a larger portfolio sale including four additional Walgreens locations in the Southeast. The asking price is $2,858,150. This is a rare opportunity to acquire a high-performing, long-term net lease investment with a premier tenant in a strong retail location.

Location Insight

City

Roseboro

County

Sampson

State

North Carolina

Longitude

-78.5147

Latitude

34.9585