3465 Church St Burlington, NC 27215-9111

Property Details for 3465 Church St

Year built

2003

Lot size

1.44 lot acres

Property size

14,732 SF

Zone code

B 2

Property type

Drug stores

APN

107109

APU

107109

Description

This exceptional investment opportunity presents a 14,470-square-foot Walgreens pharmacy, situated on a 1.44-acre lot in Burlington, North Carolina. The property boasts a strong corporate guaranteed lease with Walgreens, offering a secure, absolute net lease structure requiring zero landlord obligations. The current lease, commencing May 13, 2008, and expiring May 31, 2028, has a remaining term of approximately 3.5 years, with eight five-year renewal options featuring attractive 10% rental escalations. The property generates a substantial net operating income (NOI) of $342,672, resulting in a compelling 9.25% cap rate. Built in 2004, this prototypical freestanding building includes a convenient drive-thru. The location benefits from high visibility and traffic counts exceeding 30,000 vehicles per day, situated near Alamance Regional Medical Center and numerous national retailers including Food Lion, Lowe's, McDonald's, and more. The affluent community boasts an average household income exceeding $89,484 within a one-mile radius, and a population exceeding 80,013 within a five-mile radius. The asking price for this exceptional net lease investment is $3,705,000. This is a rare opportunity to acquire a high-performing, stable investment property with a strong tenant and significant upside potential.

Location Insight

City

Burlington

County

Alamance

State

North Carolina

Longitude

-79.5132

Latitude

36.0809

CBSA code

15500

CBSA name

BURLINGTON, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments