Sands Investment Group is Pleased to Exclusively Offer For Sale the 10,908 SF Walgreens Absolute NNN Asset Located at 1115 Old Town Road in Charleston, SC. This Deal Includes a NNN Lease With Limited Landlord Responsibilities and Rare 14.83% Rental Increase at the End of the Remaining Term and Approximately 1.6% Rent Bumps on Each of the Option Periods, Providing a Hedge Against Inflation, Thus Providing For a Secured Investment. Located on the Primary Commuter Street in a Strong Area of Charleston, This Property Has a “Covered Land Play” Opportunity in the Future.
BEST IN CLASS INVESTMENT FEATURING ATTRACTIVE YIELD WITH RENT GROWTH:
- 4 Years Remaining With (4) 5 Year Option Periods
- Corporate Guaranteed Lease Featuring Investment Grade Credit (S&P: BBB)
- NNN Lease With Limited Landlord Responsibilities and Depreciation Benefits
- Extremely Rare 14.83% Rent Bump at the End of the Remaining Term and Then Nearly 1.6% Rent Bumps on Each of the Options Periods Providing Hedges Against Inflation
- Strong Store Sales at This Location
- Long Term Tenant Has Been Operating at This Location Since 1998
- Low Rent in Strong Charleston Location Creating Potential Value-Add Opportunity in the Future
DAILY NEEDS & NECESSITY BASED TENANT:
- Walgreens is the Second-Largest Pharmacy Store Chain in the United States
- Drug Stores Provide a “Daily Needs” For Consumers Making the Property Pandemic and Recession Resistant
PRIME CHARLESTON LOCATION WITH STRATEGIC ADVANTAGES:
- Incredible Corner Lot on a Highly Trafficked Intersection Near Downtown Charleston
- Easily Accessible From Major Roads and Highways, Including Proximity to Highway 17, Facilitating Convenient Travel For Customers
- Established Presence in the Charleston Community, Having Served Local Residents For Many Years With Trusted Pharmacy and Retail Services
- Positioned Near Several Healthcare Facilities, Including Hospitals and Clinics, Supporting Walgreens’ Health and Wellness Services
- Nearby Retailers Include – Coastal Cardiology PA, Motion Dynamics Chiropractic, Little Caesars, Circle K, Taco Bell, Affordable Dentures and Implants
- Dense Population Base With Over 139,000 People Within 5-Miles
- Affluent Trade Area – Over $103,000 Average Household Income Within a 3-Mile Radius
- Top Performing Sales Location
In Cooperation With Sands Investment Group Charleston, LLC – Lic. #20891 BoR: Chris Sands – Lic. SC #93103
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