1101 Highway 9 Byp Lancaster, SC 29720

Property Details for 1101 Highway 9 Byp

Year built

2006

Construction

STEEL FRAME

Lot size

2.26 lot acres

Property size

14,820 SF

Zone code

CITY

Property type

Drug stores

APN

0067F-0D-001.01

APU

0067F0D00101

Description

This exceptional investment opportunity presents a fee-simple, single-tenant, 14,820 square foot Walgreens located at 1101 Hwy 9 Bypass W, Lancaster, SC 29720. The property sits on a 2.25-acre lot and boasts a 100% occupancy rate with a corporate guarantee from Walgreens. Built in 2006, this freestanding building benefits from a long-term lease with 12.5 years remaining. The lease includes favorable terms, featuring 5% rent bumps every 5 years, and a preferred 5-year option structure. The property generates a substantial net operating income (NOI) of $313,745, resulting in an attractive 5.75% cap rate. Strategically positioned in a high-traffic area with a daily traffic count of 20,000, this location enjoys proximity to major retailers such as Walmart, Home Depot, Harbor Freight, and Big Lots. Its convenient location is also just a two-minute drive from the University of South Carolina's Lancaster campus and Founders Federal Credit Union's corporate headquarters. This absolute net lease structure ensures minimal landlord responsibilities, making it an ideal investment for passive income seekers. The asking price is $5,460,000, translating to a price per square foot of $368.42. Lancaster is situated within the Charlotte MSA, a rapidly growing metropolitan area. This property offers a compelling combination of strong tenant, long-term lease, and excellent location.

Location Insight

City

Lancaster

County

Lancaster

State

South Carolina

Longitude

-80.7898

Latitude

34.7341

CBSA code

16740

CBSA name

CHARLOTTE-CONCORD-GASTONIA, NC-SC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments