For Sale
$4,446,000

1005 Governor Williams HwyDarlington, SC 29532

Darlington, SC Walgreens - High ROI

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a 12,615-square-foot Walgreens, a Class A, single-tenant, absolute NNN net lease property located in Darlington, South Carolina. The property, built in 2006 and situated on a 2.18-acre lot at a signalized intersection of S Governor Williams Hwy and S Main Street, boasts exceptional visibility and high traffic counts (22,777 vehicles daily). The Walgreens lease, commencing June 2, 2021, and expiring June 29, 2034, offers a substantial remaining term of 12 years with attractive 5% rent bumps every five years. The property enjoys a 100% occupancy rate, generating a strong net operating income (NOI) of $222,300 and a 5.00% cap rate. The tenant, Walgreens, is credit-rated, providing a corporate lease guarantee and minimizing landlord responsibilities. This prime retail location benefits from its position near other national tenants such as Walmart, O'Reilly Auto Parts, Tractor Supply Co, CVS, and Food Lion, and is the only Walgreens in town, ensuring limited competition. The property's strategic location and strong tenant history make it an ideal addition to any investment portfolio. The asking price is $4,446,000.

Highlights

  • $4,446,000 asking price for a Walgreens-occupied retail property.
  • Absolute NNN lease with no landlord responsibilities.
  • Rare 5% annual rent escalations.
  • Strong, credit-rated tenant (Walgreens) in an essential business.
  • High-traffic location (22,777 vehicles per day) with limited competition.

Property Details for 1005 Governor Williams Hwy

Property type
Retail properties, Drug stores
Square Feet
12,615 SF
Class
A
Year Built
2006
Lot Size (sq. ft)
94,961 SF

Location Insight

City
Darlington
County
Darlington
State
South Carolina
Latitude
34.2830756
Longitude
-79.8566764
1005 Governor Williams Hwy, Darlington, South Carolina

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1005 Governor Williams Hwy
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