142 Loudon Rd Concord, NH 03301

Property Details for 142 Loudon Rd

Year built

2008

Construction

STEEL FRAME

Lot size

1.41 lot acres

Property size

11,280 SF

Zone code

CG

Property type

Retail properties

APN

CNCD M:603Z B:180

APU

CNCDM603ZB180

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.

Location Insight

City

Concord

County

Merrimack

State

New Hampshire

Longitude

-71.5064

Latitude

43.216

CBSA code

18180

CBSA name

CONCORD, NH MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments