3793 Guess Rd, Durham, NC 27705-6910
- Retail space
- 10,513 SF
- 1.30 lot acres
Current Use by Public Records
- Walgreens Photo / (Bike/Boat/Book/etc) Store
- Walgreens Pharmacy / Pharmacy
- Redbox / Cinema / (Bike/Boat/Book/etc) Store
- FedEx OnSite / Postal Service / Courier Service
- Western Union / Bank / Credit Union
Property Details for 3793 Guess Rd
- Year built
- 2009
- Lot size
- 1.30 lot acres
- Zone code
- CC
- Property type
- Retail space
- APN
- 173224
- APU
- 173224
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Jun 26, 2008 | $2,300,000 | Durham Guess LLC | Robert Kendall Henson | Warranty Deed | $5.2M · Wells Fargo Bank NA |
| Mar 12, 2002 | $1,230,000 | Robert K Henson | Melton,john D | Grant Deed | — |
| — | — | Cole Wg Durham Nc LLC | — | Deed Of Trust · related | $31.5M · Goldman Sachs Mortgage Co |
| — | — | Durham Guess LLC | — | Deed Of Trust · related | $5.2M · Wachovia Bank NA |
Description
This exceptional investment opportunity presents a 10,513-square-foot Walgreens, situated on a 1.3-acre lot (56,748 sq ft) at 3793 Guess Rd, Durham, NC 27705. The property boasts a strong 8.00% cap rate, generating a net operating income (NOI) of $423,000, with an asking price of $5,287,500 ($502.95/sq ft). This is an absolute NNN (Triple Net) lease, meaning zero landlord responsibilities, and is further secured by a corporate guarantee from Walgreens Boots Alliance (NASDAQ: WBA). The lease is for a single tenant with 100% occupancy. The property enjoys a highly visible corner location with excellent ingress and egress, benefiting from strong surrounding demographics, including over 120,000 people within a 5-mile radius. Neighboring retailers include prominent brands such as Dollar Tree, Food Lion, Ollie's Bargain Outlet, and Starbucks, indicating a thriving commercial area. Beyond the initial lease term, the tenant holds fifty (50) years of options with 12-month cancellation rights. This investment offers exceptional stability and potential for long-term growth within the Raleigh-Durham-Cary MSA. The property's prime location and the strength of the Walgreens brand make this a compelling opportunity for discerning investors.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,020,000
- 6.5%
- $1,865,000
- 7%
- $1,730,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $1,758,000
Market price range: $359k - $1.76M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $2,585,000 Current use
- AUTO REPAIR, GARAGE
- $3,065,000 Change: +19% Conversion: Difficult
- COMMERCIAL (GENERAL)
- $2,530,000 Change: -2% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Durham
- County
- Durham
- State
- North Carolina
- Longitude
- -78.9298
- Latitude
- 36.0566
- CBSA code
- 20500
- CBSA name
- DURHAM-CHAPEL HILL, NC METROPOLITAN STATISTICAL AREA
