1485 Riv Rdg Dr Clemmons, NC 27012-8355

Property Details for 1485 Riv Rdg Dr

Year built

2002

Construction

STEEL FRAME

Lot size

1.68 lot acres

Property size

14,553 SF

Zone code

HB-S

Property type

Drug stores

APN

5884-98-0647.00

APU

588498064700

Description

This exceptional investment opportunity presents a 14,547-square-foot freestanding Walgreens pharmacy, situated on a 1.68-acre lot in Clemmons, North Carolina. The property boasts a strong absolute triple-net (NNN) lease with Walgreens, a creditworthy corporate tenant, providing zero landlord responsibilities. The lease, commencing May 13, 2008, and expiring May 31, 2028, has a remaining term of 3.5 years, with eight five-year renewal options featuring 10% rental escalations. The current asking price is $2,677,211, representing a compelling cap rate of 8.75% and a price per square foot of $184.04. The property generates a net operating income (NOI) of $234,256. Built in 2003, this single-building property enjoys 100% occupancy and benefits from a prime location with high visibility, exceeding 33,185 vehicles per day. Its strategic placement near US Route 421 (41,736 VPD) and shadow-anchored by a Food Lion shopping center, ensures consistent traffic. The surrounding area demonstrates robust demographics, including an average household income of $94,586 within a one-mile radius and over 89,580 residents within a five-mile radius. Neighboring national brands include CVS, Wendy's, Bojangles, Dollar General, Circle K, and Taco Bell. Clemmons is conveniently located approximately 10 to 12 miles southwest of Winston-Salem, within the Piedmont Triad Region. This is a rare opportunity to acquire a stable, high-performing retail investment with significant upside potential.

Location Insight

City

Clemmons

County

Forsyth

State

North Carolina

Longitude

-80.3906

Latitude

36.0739

CBSA code

49180

CBSA name

WINSTON-SALEM, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments