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440 Blowing Rock Blvd
Lenoir, NC 28645
Walgreens - Strong Retail Corridor · Retail Property For Sale
Investment Highlights
- 13 year corporate lease with 12 5-year options
- Fee simple NNN with no landlord responsibilities
- Nearby $600M Google data center campus expansion
- Corporate Guarantee
- RARE 5% rent increases every 5 years (including option periods)
- Strong traffic count of 37,000 VPD
Executive Summary
Walgreens is positioned with excellent access and visibility directly on Blowing Rock Boulevard (27,500 VPD), also known as Highway 321, in Lenoir, North Carolina. Less than a mile from the site is the intersection of Highway 321 and U.S. Route 64, which runs from Arizona to the east coast of North Carolina.
The site is directly adjacent to the Caldwell County Public Library to the east and a shopping center to the south including KFC, Dollar General, Belk, and Tractor Supply Co. Additional traffic drivers in the immediate area include Walmart, Big Lots, Aldi, and several hotels including Hampton Inn & Suites Lenoir (62 rooms).
Lenoir, North Carolina is located equidistant from the state capital of Charlotte and the state border of Tennessee. As a component of the Hickory-Lenoir-Morganton MSA (Population: 382,198) Lenoir is the county seat of Caldwell County, which is located in the foothills of the Blue Ridge Mountains.
The site is directly adjacent to the Caldwell County Public Library to the east and a shopping center to the south including KFC, Dollar General, Belk, and Tractor Supply Co. Additional traffic drivers in the immediate area include Walmart, Big Lots, Aldi, and several hotels including Hampton Inn & Suites Lenoir (62 rooms).
Lenoir, North Carolina is located equidistant from the state capital of Charlotte and the state border of Tennessee. As a component of the Hickory-Lenoir-Morganton MSA (Population: 382,198) Lenoir is the county seat of Caldwell County, which is located in the foothills of the Blue Ridge Mountains.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
14,820 SF
Building Class
B
Year Built
2010
Price
$4,782,350 CAD
Price Per SF
$322.70 CAD
Cap Rate
7.25%
NOI
$346,624 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.25
Lot Size
1.34 AC
Parking
57 Spaces (3.85 Spaces per 1,000 SF Leased)
Frontage
237’ on Blowing Rock Blvd
Property Taxes
| Parcel Number | 09118-2-1 | Improvements Assessment | $1,866,922 CAD |
| Land Assessment | $1,361,135 CAD | Total Assessment | $3,228,058 CAD |
Property Taxes
Parcel Number
09118-2-1
Land Assessment
$1,361,135 CAD
Improvements Assessment
$1,866,922 CAD
Total Assessment
$3,228,058 CAD
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