Walgreens | Carthage, NC
Sands Investment Group is Pleased to Exclusively Offer For Sale the 11,368 SF Walgreens Absolute NNN Asset Located at 1006 Monroe Street in Carthage, NC. This Property is Under an Absolute NNN Lease, Ensuring Zero Landlord Responsibilities For Investors; Walgreens Covers All Expenses, Including Taxes, Insurance, and Maintenance, Making This a True Passive Income Opportunity While Providing For a Secured Investment.
Corporate-Backed Walgreens | Absolute NNN Lease | Essential Retail Investment
- Strong Sales Performance: Reported $8.89 million in annual sales, with a 2.36% rent-to-sales ratio, well below industry averages. Sales have grown 3.66% annually since 2017, demonstrating long-term success and stability.
- Recent 10-Year Lease Extension: Walgreens has shown commitment to this location with a 10-year lease extension, reflecting strong confidence in the site’s continued performance.
- Below Market Rent | Low Price Per SF: Walgreens is operating at a below-average rent, making this a low-rent, high-sales location with strong tenant profitability.
- Rare Rental Increases: The lease features rental increases of 5% in each option period, providing rent growth as opposed to a large portion of Walgreens leases that have flat rent structures.
Strategic Carthage, NC Location | Growing Market & Strong Demographics
- Limited Competition: This is the only national drugstore within a 10-mile radius, ensuring a dominant market position and reliable customer traffic.
- Strategic Positioning & Retail Synergy:
- Surrounded by national retailers such as Food Lion, McDonald’s, Dollar General, AutoZone, Hardee’s, Burger King, Bojangles, Sheetz and Subway, creating a strong consumer draw.
- Located along Monroe St (15,000+ VPD) with excellent visibility and accessibility.
- Growing Market & Strong Demographics:
- Population of 45,000+ residents within 10 miles, with above-average income levels exceeding $100,000.
- North Carolina is one of the fastest-growing states, fueling continued retail expansion
In Cooperation With Sands Investment Group North Carolina, LLC – Lic. #29362 BoR: Chris Sands – Lic. NC #300021
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