142 Loudon Rd, Concord, NH 03301
- Retail properties & Spaces
- 11,280 SF
- 1.41 lot acres
Current Use by Public Records
- Walgreens Photo / (Bike/Boat/Book/etc) Store
- FedEx OnSite / Postal Service / Courier Service
- Walgreens / Pharmacy
- Walgreens Pharmacy / Pharmacy
- COVID-19 Drive-thru Testing at Walgreens / Pharmacy
Property Details for 142 Loudon Rd
- Year built
- 2008
- Construction
- STEEL FRAME
- Lot size
- 1.41 lot acres
- Zone code
- CG
- Property type
- Retail properties & Spaces
- APN
- CNCD M:603Z B:180
- APU
- CNCDM603ZB180
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Apr 26, 2018 | $142,800 | Park Cole Walgreens Nh | Ramirez Concord LLC | Warranty Deed · related | $5.4M · Morgan Stanley Bk |
| Sep 9, 2016 | $3,500,000 | Ramirez Concord LLC | Newhamco INC | Warranty Deed | — |
| Sep 9, 2016 | — | Ramirez Concord LLC | — | Deed · related | $3.5M · Santander Bk NA |
| — | — | Ramirez Concord LLC | — | Loan Modification · related | $3.5M · Santander Bk NA |
Description
This exceptional investment opportunity presents a freestanding, 11,280-square-foot Walgreens pharmacy and drugstore located at 142 Loudon Rd, Concord, NH 03301. The property sits on a 1.41-acre lot and boasts a prominent hard corner location with high visibility along a main retail corridor, benefiting from a signalized intersection and combined traffic counts exceeding 38,556 vehicles per day. Built in 2008, this single-tenant building is currently operating at 100% occupancy under an absolute triple-net (NNN) lease with a corporate guarantee from Walgreens (S&P: "BBB-"). The lease commenced on August 4, 2008, and has a remaining term of approximately 8.8 years, extending to August 31, 2033. The lease includes ten five-year options and features a rare 5% rent increase every ten years, providing significant long-term growth potential. The asking price is $6,000,000, representing a price per square foot of $531.91 and an attractive 8.50% cap rate based on a net operating income (NOI) of $510,000. The property benefits from its location within a thriving retail area, surrounded by national tenants such as CVS, Burger King, and others, and enjoys proximity to Concord Hospital, a 295-bed facility. The surrounding area boasts a population exceeding 44,000 within a 5-mile radius, with an average household income of $90,000. This is a rare opportunity to acquire a high-quality, net-leased Walgreens property with exceptional long-term growth prospects.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,190,000
- 6.5%
- $2,025,000
- 7%
- $1,880,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $2,292,000
- AI Estimate
- $1,750,000
Market price range: $941k - $2.29MMarket price range: $526k - $1.75M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $1,700,000 Current use
- AUTO REPAIR, GARAGE
- $2,330,000 Change: +37% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $1,730,000 Change: +2% Conversion: Easy
- INDUSTRIAL (GENERAL)
- $1,590,000 Change: -7% Conversion: Difficult
- OFFICE BUILDING
- $1,520,000 Change: -11% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Concord
- County
- Merrimack
- State
- New Hampshire
- Longitude
- -71.5064
- Latitude
- 43.216
- CBSA code
- 18180
- CBSA name
- CONCORD, NH MICROPOLITAN STATISTICAL AREA
