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Walgreens - Carthage, NC 1006 Monroe St 11,368 SF Retail Building Carthage, NC 28327 $3,908,576 CAD ($343.82 CAD/SF) 7.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Reported $10.1 million in annual sales, with a 2.06% rent-to-sales ratio, well below industry averages. Sales have grown 3.66% annually since 2017
- Walgreens is operating at a below-average rent, making this a low-rent, high-sales location with strong tenant profitability
- This is the only national drugstore within a 10-mile radius, ensuring a dominant market position and reliable customer traffic
- Walgreens has shown commitment to this location with a 10-year lease extension, reflecting strong confidence in the site's continued performance
- The lease features rental increases of 5% in each option period, providing rent growth as opposed to a large portion of Walgreens
- Walgreens Positioned Near the Renowned Pinehurst Golf Course.
EXECUTIVE SUMMARY
Sands Investment Group is pleased to exclusively offer for sale the 11,368 SF Walgreens located at 1006 Monroe Street in Carthage, NC. This property is under an Absolute Triple Net (NNN) Lease, ensuring zero landlord responsibilities for investors; Walgreens covers all expenses, including taxes, insurance, and maintenance, making this a true passive income opportunity with stable, long-term cash flow.
In Cooperation With Sands Investment Group North Carolina, LLC - Lic. #29362 BoR: Chris Sands - Lic. NC #300021
In Cooperation With Sands Investment Group North Carolina, LLC - Lic. #29362 BoR: Chris Sands - Lic. NC #300021
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
11,368 SF
Building Class
C
Year Built/Renovated
1998/2005
Price
$3,908,576 CAD
Price Per SF
$343.82 CAD
Cap Rate
7.50%
NOI
$293,143 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.21
Lot Size
1.23 AC
Zoning
HC - Highway Commercial
Parking
30 Spaces (2.64 Spaces per 1,000 SF Leased)
Frontage
350’ on Monroe Street
AMENITIES
- Corner Lot
- Drive Thru
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Walgreens
- Health Care and Social Assistance
- 11,368 SF
- $25.78 CAD
- Jun 2035
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Walgreens | Health Care and Social Assistance | 11,368 SF | $25.78 CAD | Jun 2035 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 8577-08-99-6056 | Improvements Assessment | $1,871,704 CAD |
| Land Assessment | $591,790 CAD | Total Assessment | $2,463,494 CAD |
PROPERTY TAXES
Parcel Number
8577-08-99-6056
Land Assessment
$591,790 CAD
Improvements Assessment
$1,871,704 CAD
Total Assessment
$2,463,494 CAD
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Walgreens - Carthage, NC | 1006 Monroe St
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