7143 Knightdale Blvd Knightdale, NC 27545-9266

Property Details for 7143 Knightdale Blvd

Year built

2005

Construction

BRICK

Lot size

2.38 lot acres

Property size

15,020 SF

Zone code

HB

Property type

Drug stores

APN

1754.09-16-8189 0162509

APU

1754091681890162509

Description

This exceptional investment opportunity presents a 14,550-square-foot Walgreens pharmacy located at 7143 Knightdale Blvd, Knightdale, NC 27545. The property sits on a 2.38-acre lot and features 45 parking spaces. This single-tenant, absolute NNN net lease boasts a corporate guarantee from Walgreens, minimizing landlord responsibilities. The lease commenced May 1, 2006, with a 25-year term, leaving approximately 6.4 years remaining until the next renewal option. The current lease provides for 10 and 5-year renewal options. The property enjoys a 7.00% cap rate and a strong NOI of $315,000. The asking price is $4,500,000. This prime location benefits from high traffic counts on Knightdale Blvd (38,500 VPD), I-540 (44,500 VPD), N Smithfield Rd (12,000 VPD), and I-64 (97,500 VPD). It's situated at a signalized corner intersection of Knightdale Blvd and N Smithfield Rd, and is an outparcel to a 55,000-square-foot Food Lion-anchored shopping center. The area demonstrates significant population growth, with a projected minimum 10% increase over the next five years within a 1, 3, and 5-mile radius. The property's proximity to major roadways, a strong average household income of $113,089 within a 5-mile radius, and its location near significant employers like WakeMed Raleigh Campus and Wake Technical Community College, further enhance its investment appeal. Limited competition within a 10-minute drive adds to its desirability.

Location Insight

City

Knightdale

County

Wake

State

North Carolina

Longitude

-78.4878

Latitude

35.7992

CBSA code

39580

CBSA name

RALEIGH-CARY, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments