1498 White Mountain HwyConway, NH 03860

Property Details for 1498 White Mountain Hwy

Year built

2008

Lot size

1.94 AC

Property size (Sq ft)

13,666 SF

Property type

Retail properties

Property subtype

Drug stores

Description

This exceptional investment opportunity presents a fee-simple ownership of a 13,666 square foot Walgreens, situated on a 1.935-acre lot in Conway, New Hampshire. The property boasts a highly desirable Absolute NNN lease with Walgreens (NASDAQ: WBA), a credit-worthy tenant with a S&P credit rating of BBB- and a Moody's rating of Ba2. The lease, with a remaining term of over nine years, extends to September 30, 2033, and includes fifty one-year renewal options, ensuring long-term stability and predictable cash flow. The property generates a strong NOI of $405,000, resulting in a compelling 7.30% cap rate. Located on White Mountain Highway, a major north-south thoroughfare with a daily traffic count of 44,346 vehicles, this Walgreens benefits from exceptional visibility and accessibility. Its performance surpasses that of a nearby competitor, ranking in the top 22% of Walgreens locations in New Hampshire and the top 32% nationally based on traffic. The property's strategic location near Settlers Green Outlets, a major shopping destination attracting 2.4 million shoppers annually, further enhances its value. The surrounding area demonstrates strong demographics, with a total population of 9,322 within a five-mile radius and an average household income of $98,619 within one mile. Built in 2008, this single-story building is zoned C and represents a secure, high-performing investment with significant upside potential. The asking price is $5,548,000.

Location Insight

City

Conway

County

Carroll

State

New Hampshire

Latitude

44.0187

Longitude

-71.1164

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