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Walgreens 1170 E Marion St 14,673 SF Retail Building Shelby, NC 28150 $5,148,000 CAD ($350.85 CAD/SF) 6.90% Cap Rate
Investment Highlights
- ±14,725 SF freestanding vacant Walgreens on ±1.52 acres
- Strong traffic counts: E Marion St (~13,000 AADT) and Cherryville Rd (~11,000 AADT)
- Average household income of ~$82,000 within a 1-mile radius
- Signalized corner site bordered by three streets with three points of ingress/egress
- Updated to Walgreens’ newer prototype format in 2018
Executive Summary
- Walgreens vacated in March 2024; lease remains in place through January 31, 2029
- Investment-grade tenant (Walgreens Boots Alliance – BBB / Baa2 credit)
- Rare 10% rent escalations in renewal option periods
- Located in an Opportunity Zone
Property Facts
Amenities
- Corner Lot
- Signalized Intersection
- Drive Thru
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Position
- Available
Freestanding retail property located in a commercial trade area adjoining established residential areas. The site was updated in 2018 to new Walgreens format. Bordered by 3 streets with 3 ingress/egress points. Signalized Corner with high traffic roads (E Marion St 13,000 AADT and Cherryville Rd: 11,000 AADT). Room for additional construction due to relocation of Peach Street currently underway.
| Space | Size | Space Use | Position | Available |
| 1st Floor | 14,673 SF | Retail | Outparcel | 120 Days |
1st Floor
| Size |
| 14,673 SF |
| Space Use |
| Retail |
| Position |
| Outparcel |
| Available |
| 120 Days |
1st Floor
| Size | 14,673 SF |
| Space Use | Retail |
| Position | Outparcel |
| Available | 120 Days |
Freestanding retail property located in a commercial trade area adjoining established residential areas. The site was updated in 2018 to new Walgreens format. Bordered by 3 streets with 3 ingress/egress points. Signalized Corner with high traffic roads (E Marion St 13,000 AADT and Cherryville Rd: 11,000 AADT). Room for additional construction due to relocation of Peach Street currently underway.
Property Taxes
| Parcel Number | 26771 | Improvements Assessment | $1,717,856 CAD |
| Land Assessment | $448,926 CAD | Total Assessment | $2,166,782 CAD |
Property Taxes
Presented by
Walgreens | 1170 E Marion St
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