2498 2nd Loop Rd Florence, SC 29501
- Retail space
- 14,438 SF
- 1.88 lot acres
Current Use by Public Records
- Casey F. Norris, RPh / Pharmacy
- Walgreens Photo / Photo Lab / Photo Shop
- Cardtronics ATM / Atm
- Redbox / Movie Rental Kiosk / Dvd Store
- Kimberly W. Joyner, Pharm / Pharmacy
Property Details for 2498 2nd Loop Rd
- Year built
- 2003
- Lot size
- 1.88 lot acres
- Property size
- 14,438 SF
- Property type
- Retail space
- APN
- 90020-04-005
- APU
- 9002004005
Description
This exceptional investment opportunity presents a 14,500-square-foot Walgreens, situated on a 1.73-acre lot in Florence, South Carolina. The property boasts a highly desirable absolute triple-net (NNN) lease with a corporate guarantee from Walgreens Boots Alliance (NASDAQ: WBA), eliminating all landlord responsibilities. The lease features a substantial remaining term of 53.2 years, extending to December 31, 2077. The property's strong financial performance is reflected in a current net operating income (NOI) of $334,992, yielding a 7.05% cap rate, and an asking price of $4,750,000 ($327.59 per square foot). This prime retail location benefits from high visibility, situated on a hard corner with exposure to 27,550 vehicles per day. Its proximity to Magnolia Mall, a significant 613,500-square-foot retail center, further enhances its desirability. Seller financing is available, making this an attractive proposition for investors seeking a secure, long-term, passive income stream. The property's address is 2498 2nd Loop Rd, Florence, SC 29501. This is a rare opportunity to acquire a well-established, high-performing Walgreens location with significant long-term growth potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Florence
- County
- Florence
- State
- South Carolina
- Longitude
- -79.8105
- Latitude
- 34.1756
- CBSA code
- 22500
- CBSA name
- FLORENCE, SC METROPOLITAN STATISTICAL AREA
