Walgreens | 3703 Lawndale Dr
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Walgreens 3703 Lawndale Dr
14,430 SF Retail Building Greensboro, NC 27455 $4,850,000 ($336/SF) 6% Cap Rate
Investment Highlights
- Densely Populated Area in High Growth Greensboro MSA
- Well Positioned Oversized Parcel
- Attractive Lease Fundamentals
Executive Summary
Attractive Lease Fundamentals
- 5% Rental Increases every 5 Years
- Twelve (12) five (5) year extensions
- Abs. NNN Lease, Zero Landlord Responsibilities
- Corporate Lease - Walgreens Co.
Densely Populated Area in High Growth Greensboro MSA
- 107K people live in a 3-mile radius with high discretionary income (AHHI ~$107K)
- Greensboro is the third largest city in North Carolina with 2% annual population growth rate
Located in Strong Retail Node
- More than 1.2MSF of retail space located in a 1-mile radius
- Retailers in the area have an overall vacancy rate of 1.8%
- Nearby major retailers include: Walmart Supercenter, Target, Trader Joe’s, Aldi and a top performing Lowes Home Improvement (top 89th percentile - Placer.ai)
Nearby Universities & Colleges
- 4.5 miles from University of North Carolina Greensboro
- 4.2 miles from Greensboro College | 5.5 miles to NCA&T
- Over 36k total students and 5,000 total employees from all three universities
Well Positioned Oversized Parcel
- Subject Site is positioned on two lighted intersections with full access on two roads (Lawndale Dr - 24K VPD & Martinsville Rd)
- Fronting three roads (Lawndale Dr, Martinsville Rd, and Pisgah Church Rd - 19K VPD)
- Over 1.70 acres providing future redevelopment opportunity
New Development in Greensboro, NC
- Toyota is building a $13.9 Billion dollar battery plant in Greensboro bringing in over 5,000 jobs
- Boom Supersonic is building a super factory in Greensboro which is a $500 million dollar project bringing in over 1,750 Jobs
- Honda Aircraft Company is expanding operations and investing $55.7 million dollars into the area adding 280 high skilled jobs
- 5% Rental Increases every 5 Years
- Twelve (12) five (5) year extensions
- Abs. NNN Lease, Zero Landlord Responsibilities
- Corporate Lease - Walgreens Co.
Densely Populated Area in High Growth Greensboro MSA
- 107K people live in a 3-mile radius with high discretionary income (AHHI ~$107K)
- Greensboro is the third largest city in North Carolina with 2% annual population growth rate
Located in Strong Retail Node
- More than 1.2MSF of retail space located in a 1-mile radius
- Retailers in the area have an overall vacancy rate of 1.8%
- Nearby major retailers include: Walmart Supercenter, Target, Trader Joe’s, Aldi and a top performing Lowes Home Improvement (top 89th percentile - Placer.ai)
Nearby Universities & Colleges
- 4.5 miles from University of North Carolina Greensboro
- 4.2 miles from Greensboro College | 5.5 miles to NCA&T
- Over 36k total students and 5,000 total employees from all three universities
Well Positioned Oversized Parcel
- Subject Site is positioned on two lighted intersections with full access on two roads (Lawndale Dr - 24K VPD & Martinsville Rd)
- Fronting three roads (Lawndale Dr, Martinsville Rd, and Pisgah Church Rd - 19K VPD)
- Over 1.70 acres providing future redevelopment opportunity
New Development in Greensboro, NC
- Toyota is building a $13.9 Billion dollar battery plant in Greensboro bringing in over 5,000 jobs
- Boom Supersonic is building a super factory in Greensboro which is a $500 million dollar project bringing in over 1,750 Jobs
- Honda Aircraft Company is expanding operations and investing $55.7 million dollars into the area adding 280 high skilled jobs
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
14,430 SF
Building Class
C
Year Built
2004
Price
$4,850,000
Price Per SF
$336
Cap Rate
6%
NOI
$291,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Lot Size
1.71 AC
Zoning
C-M
Parking
48 Spaces (5.14 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Bus Line
- Pylon Sign
- Signalized Intersection
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 0055942 | Improvements Assessment | $2,132,500 |
| Land Assessment | $1,171,700 | Total Assessment | $3,304,200 |
PROPERTY TAXES
Parcel Number
0055942
Land Assessment
$1,171,700
Improvements Assessment
$2,132,500
Total Assessment
$3,304,200
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Walgreens | 3703 Lawndale Dr
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