For Sale
$4,500,000

7143 Knightdale Blvd Knightdale, NC 27545

High-yield Walgreens, NC. Strong tenant.

Property Records

Overview

Added:
Dec 11, 2024
Days on market:
139
This exceptional investment opportunity presents a 14,550-square-foot Walgreens pharmacy located at 7143 Knightdale Blvd, Knightdale, NC 27545. The property sits on a 2.38-acre lot and features 45 parking spaces. This single-tenant, absolute NNN net lease boasts a corporate guarantee from Walgreens, minimizing landlord responsibilities. The lease commenced May 1, 2006, with a 25-year term, leaving approximately 6.4 years remaining until the next renewal option. The current lease provides for 10 and 5-year renewal options. The property enjoys a 7.00% cap rate and a strong NOI of $315,000. The asking price is $4,500,000. This prime location benefits from high traffic counts on Knightdale Blvd (38,500 VPD), I-540 (44,500 VPD), N Smithfield Rd (12,000 VPD), and I-64 (97,500 VPD). It's situated at a signalized corner intersection of Knightdale Blvd and N Smithfield Rd, and is an outparcel to a 55,000-square-foot Food Lion-anchored shopping center. The area demonstrates significant population growth, with a projected minimum 10% increase over the next five years within a 1, 3, and 5-mile radius. The property's proximity to major roadways, a strong average household income of $113,089 within a 5-mile radius, and its location near significant employers like WakeMed Raleigh Campus and Wake Technical Community College, further enhance its investment appeal. Limited competition within a 10-minute drive adds to its desirability.

Highlights

  • High-visibility corner lot at signalized intersection of Knightdale Blvd and N Smithfield Rd.
  • Absolute triple-net (NNN) lease; zero landlord responsibilities.
  • Corporate lease with Walgreens, a national retailer with 8,886+ locations.
  • Outparcel to a 55,000 SF Food Lion-anchored shopping center.
  • Long-term tenant occupancy since 2006.
  • High population growth (55.13% increase) within a 3-mile radius (2010-2024).

Property Details for 7143 Knightdale Blvd

Property type
Retail properties, Drug stores
Square Feet
14,550 SF
Year Built
2006
Buildings
1
Lot Size (sq. ft)
103,673 SF
Units
1

Location Insight

City
Knightdale
County
Wake
State
North Carolina
Latitude
35.7990885
Longitude
-78.4877061

FAQs

What type of property is this?
Retail property - High-yield Walgreens, NC. Strong tenant.
Where is the retail property located?
The property is located at 7143 Knightdale Blvd Knightdale, NC.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: High-visibility corner lot at signalized intersection of Knightdale Blvd and N Smithfield Rd.; Absolute triple-net (NNN) lease; zero landlord responsibilities.; Corporate lease with Walgreens, a national retailer with 8,886+ locations.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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7143 Knightdale Blvd
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