1294 Ribaut Rd Beaufort, SC 29902-6143

This exceptional investment opportunity presents a single-tenant, net-leased Walgreens pharmacy located at 1294 Ribaut Rd, Beaufort, SC 29902. The 11,371 square foot building, constructed in 1997, sits on a 1.76-acre lot and boasts a drive-thru pharmacy, significantly enhancing convenience and customer traffic. The property enjoys a prime location along Ribaut Road, a major thoroughfare with a daily traffic volume of 23,500 vehicles. This high-visibility location is complemented by strong neighboring tenants including Piggly Wiggly, ACE Hardware, Hardee's, Fresenius, and Burger King, further solidifying the area's commercial vibrancy. The property benefits from a dense population base, with 46,133 residents within a five-mile radius, exhibiting an average annual household income of $96,716. Limited competition, with the nearest CVS over three miles away, ensures a strong market position. The current lease, originally commenced on May 1, 1997, and assumed by Walgreens in 2018, has a remaining term of 2.5 years, followed by five 5-year renewal options, each with a 5% rent increase. The property offers a compelling 8.00% cap rate and a strong NOI of $108,999, making it an attractive investment with significant long-term potential. The Walgreens tenant is credit-rated, providing further security and stability. This is a rare opportunity to acquire a well-positioned, high-performing retail property in a thriving market within the Savannah MSA. The asking price is $1,362,499, translating to $119.82 per square foot. The property's proximity to the Naval Hospital further enhances its appeal and potential for sustained growth.