Charlotte MSA Walgreens | 5% Rental Increases 2427 Springs Rd NE 14,820 SF Retail Building Hickory, NC 28601 $7,006,850 CAD ($472.80 CAD/SF) 9% Cap Rate

We are pleased to market for sale the Walgreens property located at 2427 Springs Road NE in Hickory, North Carolina (the “Property”). Walgreens has been operating at this location for over 17 years and signed a new 15-year absolute net lease in 2021 with 5% rental increases every five years, demonstrating their long-term commitment to the site and offering investors a passive, corporate-guaranteed income stream with no landlord responsibilities.
The Property is strategically positioned less than 3 miles from Lenoir-Rhyne University which consists of 2,230 students and 127 faculty. The surrounding area is experiencing meaningful residential growth, including the Hamptons of Hickory, a 340-home development as well as Walnut Reserve, both currently under construction and within three miles of the Property.
This Walgreens benefits from a high-traffic corner location with a combined ±46,000 vehicles per day, including 31,500 VPD along Springs Road NE and 14,500 VPD along 24th Street NE. Additionally, the Property sits within one hour of Downtown Charlotte via US-321/I-40, giving residents and employers direct access to one of the Southeast’s fastest-growing major metros while maintaining Hickory’s affordability and strong regional fundamentals.
Listed in conjunction with Brian Brockman, Bang Realty Inc., 513-898-1551, wg@bangrealty.com, NC DRE Lic. 298998.