For Sale
$4,750,000

2498 2Nd Loop RdFlorence, SC 29501

High-yield Walgreens investment, SC.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 14,500-square-foot Walgreens, situated on a 1.73-acre lot in Florence, South Carolina. The property boasts a highly desirable absolute triple-net (NNN) lease with a corporate guarantee from Walgreens Boots Alliance (NASDAQ: WBA), eliminating all landlord responsibilities. The lease features a substantial remaining term of 53.2 years, extending to December 31, 2077. The property's strong financial performance is reflected in a current net operating income (NOI) of $334,992, yielding a 7.05% cap rate, and an asking price of $4,750,000 ($327.59 per square foot). This prime retail location benefits from high visibility, situated on a hard corner with exposure to 27,550 vehicles per day. Its proximity to Magnolia Mall, a significant 613,500-square-foot retail center, further enhances its desirability. Seller financing is available, making this an attractive proposition for investors seeking a secure, long-term, passive income stream. The property's address is 2498 2nd Loop Rd, Florence, SC 29501. This is a rare opportunity to acquire a well-established, high-performing Walgreens location with significant long-term growth potential.

Highlights

  • Triple-Net (NNN) lease.
  • Corporate guarantee from Walgreens Boots Alliance (NASDAQ: WBA).
  • No landlord responsibilities.
  • Seller financing available.
  • High-visibility corner lot with 27,500 vehicles per day.
  • Proximity to Magnolia Mall, a 613,500 square foot retail center.

Property Details for 2498 2Nd Loop Rd

Property type
Retail properties, Drug stores
Square Feet
14,500 SF
Lot Size (sq. ft)
75,359 SF

Location Insight

City
Florence
County
Florence
State
South Carolina
Latitude
34.1755749
Longitude
-79.810457
2498 2Nd Loop Rd, Florence, South Carolina

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2498 2Nd Loop Rd
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