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Walgreens: Chapel Hill, NC 1670 Martin Luther King Jr Blvd 15,990 SF Retail Building Chapel Hill, NC 27514 $9,520,820 CAD ($595.42 CAD/SF) 6.50% Cap Rate
Investment Highlights
- Absolute NNN Lease | Operating since 2016 | Fifty-Five, One-Year Renewal Options
- Excellent Access & Visibility Along MLK Jr Boulevard (23,000 VPD) | Feet from Signalized Intersection with Weaver Dairy Road (15,000 VPD)
- Strategic Location | Part of the 3.29 AC Weaver Crossing Center with UNC Health
- Strong Performer | Above Average Sales
- Less Than 1 Mile to I-40 (73,500 VPD) - providing access to Raleigh, Greensboro, Durham & Winston-Salem
- Less than 4 Miles from UNC Chapel Hill
Executive Summary
The CBRE Net Lease Property Group is pleased to offer for sale the 15,990-square-foot Walgreens situated on 1.52 acres in Chapel Hill, North Carolina (MSA Population: 620,668). Operating since 2016, Walgreens’ absolute NNN lease features ±10.5 years of term remaining and fifty-five, one-year renewal options.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
15,990 SF
Building Class
A
Year Built
2016
Price
$9,520,820 CAD
Price Per SF
$595.42 CAD
Cap Rate
6.50%
NOI
$618,853 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.24
Lot Size
1.52 AC
Zoning
Commercial
Parking
46 Spaces (2.88 Spaces per 1,000 SF Leased)
Frontage
108’ on Martin Luther King Jr Blv
Amenities
- Bus Line
- Signage
- Drive Thru
Bike Score®
Very Bikeable (70)
Nearby Major Retailers
Property Taxes
| Parcel Number | 9880351310 | Improvements Assessment | $4,795,873 CAD |
| Land Assessment | $1,943,277 CAD | Total Assessment | $6,739,150 CAD |
Property Taxes
Parcel Number
9880351310
Land Assessment
$1,943,277 CAD
Improvements Assessment
$4,795,873 CAD
Total Assessment
$6,739,150 CAD
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Walgreens: Chapel Hill, NC | 1670 Martin Luther King Jr Blvd
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