6638 Jordan RdRamseur, NC 27316

Property Details for 6638 Jordan Rd

Year built

1975

Construction

WOOD

Lot size

0.51 AC

Property size (Sq ft)

3,069 SF

Zone code

B

Property type

Banks

APN

8702533822

APU

8702533822

Description

This exceptional investment opportunity presents a brand-new, 2,500 square foot Walgreens pharmacy, constructed in 2024, situated on a 0.51-acre lot in Ramseur, North Carolina. The property boasts a highly visible corner location on Jordan Road, experiencing a daily traffic volume of 20,000 vehicles. The absolute NNN lease with Walgreens, a corporate guarantor, ensures minimal landlord responsibilities and provides a secure, long-term investment. The lease, with a remaining term of 9.9 years (expiring September 30, 2034), includes 5% rent bumps at each option period. The property features 15 parking spaces and benefits from a strong customer base, relocating from a nearby existing store. The location enjoys limited competition, with no national brand pharmacies within a 10-mile radius, and is strategically positioned near Randolph Health Hospital (145 beds), Randolph Community College (2,548 students), Eastern Randolph High School (626 students), and a significant new Toyota Battery Plant (projected 5,000+ jobs). Nearby amenities include McDonald's, Burger King, Subway, Domino's, Bojangles, and Dollar General. The property generates a Net Operating Income (NOI) of $111,600, resulting in a compelling 5.50% capitalization rate. This is a rare opportunity to acquire a high-performing, low-maintenance retail investment with a strong tenant and significant growth potential in a rapidly developing area, approximately 35 minutes from downtown Greensboro. The asking price is $2,029,000.

• CAP approach

  CAP return

  Valuation

  6%

  $494,957

  6.5%

  $456,883

  7%

  $424,249

• Comparable approach

  Method

  Valuation

  Relative Method

  $981,684

  Geo Method

  $1,775,235

• Alternative Use

  Use

  Valuation

  Residential

  $385,398

  Hospitality

  $353,023

  Educational

  $293,711

  Medical

  $303,812

  Retail

  $456,883

Location Insight

City

Ramseur

County

Randolph

State

North Carolina

Latitude

35.7372

Longitude

-79.6557

CBSA code

24660

CBSA name

GREENSBORO-HIGH POINT, NC METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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