For Sale
$4,006,000

1008 Oakland AveRock Hill, SC 29732

High-Yield Walgreens Pharmacy, SC

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a 13,833-square-foot Walgreens pharmacy located at 1008 Oakland Ave, Rock Hill, SC 29732. Built in 1999 on a 1.32-acre lot, this single-story building boasts a prime location directly adjacent to Winthrop University, a public university with over 6,500 students and staff. The property benefits from a hard corner location with excellent visibility along a heavily trafficked corridor, seeing 35,400 vehicles daily. The current lease, a double net (NN) agreement with a corporate guarantee, has approximately 4.5 years remaining, with seven 5-year renewal options. The most recent lease extension was executed without rent reduction. The Walgreens tenant has demonstrated above-average sales, with year-over-year increases for the past four years. The property's strategic location within the rapidly growing Charlotte metropolitan area, coupled with the strong tenant and lease terms, makes this a compelling investment opportunity. The roof was replaced in 2015 with a 15-year warranty. Nearby businesses include 7-Eleven, UPS Store, Starbucks, and more. The property is three miles from I-77, connecting Columbia, SC, and Charlotte, NC. The surrounding area's population exceeds 99,900 within a five-mile radius and is projected to grow further by 2028. Rock Hill is South Carolina's fifth-largest city. The asking price is $4,006,000.

Highlights

  • 1999 Walgreens build-to-suit, 13,833 SF on 1.32 acres.
  • Double-net lease with over 4 years remaining and seven 5-year options; minimal landlord responsibilities.
  • Recent lease extension with no rent reduction.
  • Above-average store sales; year-over-year increases for the past four years.
  • Corporately guaranteed lease; roof replaced in 2015 with a 15-year warranty.
  • Walgreens operates over 8,700 US locations; Q1 2024 sales increased 10% to $36.47 billion; expanding specialty pharmacy services.

Property Details for 1008 Oakland Ave

Property type
Retail properties, Drug stores
Square Feet
13,833 SF
Year Built
1999
Buildings
1
Stories
1
Lot Size (sq. ft)
57,499 SF

Location Insight

City
Rock Hill
County
York
State
South Carolina
Latitude
34.94372805
Longitude
-81.03112637
1008 Oakland Ave, Rock Hill, South Carolina

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1008 Oakland Ave
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