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Walgreens

map319 Village Rd NE, Leland, NC 28451 external-link

Walgreens

  • Price $3,187,500
  • CAP Rate 8.00%
  • Lease Term 4 Years
  • Net Operating Income (NOI) $255,000

Property Data

  • Building Size (SF) 14,820 SF
  • Land Size (AC) 1.84 AC
  • Year Built2004 / 2014
  • Tenant(s) Walgreens
  • Guaranty Corporate
  • Lease Type Abs. NNN
  • Landlord Responsibilities None
  • Increases None
  • Options 10 X 5-Yr
  • Rent Commencement 9/1/2004
  • Lease Expiration 8/31/2029
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About Property

Stonecliff is pleased to present the fee simple interest in the Walgreens property, located at 316 Village Rd NE in Leland, North Carolina. As part of a nationally recognized pharmacy chain, Walgreens is known for its broad selection of health, wellness, and daily convenience products. This location is positioned along Village Rd NE, a major east-west retail artery with traffic counts of approximately 29,000 vehicles per day (VPD), providing excellent visibility and convenient access. In addition, the site is located just minutes from US Highway 74, a key regional thoroughfare carrying over 76,000 VPD, enhancing its regional accessibility and drive-by exposure. Surrounded by dense residential neighborhoods and complementary national retailers, this Walgreens serves as a long-standing tenant in a rapidly growing commercial corridor within the Wilmington MSA.

Investment Highlights

  • • Experienced & Established Brand | Operates 12,500+ Locations Worldwide • Publicly Traded Parent Company | NASDAQ: (WBA) • Corporate-backed lease | Walgreens 2024 Annual Revenue of $147.7 Billion (USD)
  • • Strong Foundational Real Estate | Located on Signalized Intersection in Heart of Trade Area • Easy Connectivity | Close Proximity to US Hwy 74 (76,000 vehicles per day) • Attractive Brick Façade Building
  • • Convenient Access: Easy ingress and egress to the site | Located on Village Rd NE (29,000 vehicles per day) • Situated within the Wilmington, NC MSA (Metropolitan Statistical Area) | Population of 467,337 (2024 est.) • 11 minutes from Port of Wilmington, NC (shipping trade value of $12.58 billion) | 17 minutes from the University of North Carolina at Wilmington Campus (17,800 students) • 9 minutes from Wilmington, NC (Population: 122,698 2023 est.) | 65 miles from the Grand Strand Resort Area of Myrtle Beach,SC (18.2 million visitors in 2024)

Listing Team

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Lic:

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Ryan Eklund

ryan@Stonecliffre.com 980.613.4890

Lic: NC#: 286222; SC#: 115530