19 Sawmill Village Ln Franklin, NC 28734

Property Details for 19 Sawmill Village Ln

Year built

2013

Lot size

1.51 lot acres

Property size

11,308 SF

Property type

Retail space

Property subtype

Storefront properties

Description

This exceptional investment opportunity presents a fee-simple ownership of a Walgreens pharmacy and storefront located at 19 Sawmill Village Ln, Franklin, NC 28734. The property, built in 2013, encompasses 11,308 square feet on a 1.51-acre lot. The property boasts a strong 7.25% cap rate, generating a net operating income (NOI) of $346,236. The absolute NNN lease with Walgreens, a corporate-guaranteed tenant, commenced on December 27, 2013, and extends to June 30, 2038, with eleven five-year renewal options. This represents a substantial remaining lease term of approximately 13.6 years. The property enjoys 100% occupancy and benefits from its prime location along Franklin's main retail corridor, a high-traffic area with over 737,000 square feet of retail space and nearly six million shoppers annually. Situated in a dense residential community, this Walgreens is the only one within a 15-mile radius, serving as the primary drug retailer for Franklin residents. The property's strategic location near US Highway 64 ensures excellent visibility and accessibility. Recent development in the area, including a new Aldi-anchored center with Chick-fil-A and Aspen Dental, further enhances the property's value. Other nearby retailers include Walmart, Lowe's, Ingles, and more. This property is also available as part of a larger portfolio sale including four additional Walgreens locations in the Southeast. The property's high traffic volume, exceeding 239,300 visits in the past 12 months, places it in the top 20% of medical and health stores nationwide.