Walgreens

525 North Cannon Boulevard, Kannapolis, NC
Deal Type:
Net Lease
Price:
$10,105,263
Cap Rate:
4.75%
Current Rent:
$480,000
Lease Type:
Triple Net
Landlord Responsibilities:
None
Lease Expiration Date:
Approx. 15 years
Renewal Options:
12, 5-Year
Building Sq. Ft.:
13,643 SF
Rent Increases:
5% every 5 years
Site Size:
1.278 Acres
  • walgreens stream capital partners
  • walgreens stream capital partners
  • walgreens stream capital partners
  • walgreens stream capital partners

Investment Highlights

  • Absolute net lease with zero landlord responsibilities
  • 5% rent increases every 5 years with 15 years remaining
  • Investment grade credit tenant (S&P: BBB)
  • Strategically positioned off the signalized hard corner of Jackson Park Road & Cannon Boulevard which has a combined traffic count of 37,000 vehicles per day
  • The Property serves a growing customer base with over 82,300 residents living within a five-mile radius. Over the past year, the population has grown 20.28% within one mile.

Listing Agents

Jordan Shtulman

Managing Principal
847 226 4133
Jordan@stream-cp.com
dean copans stream capital partners

Dean Copans

Managing Director
650 465 3993
Dean@stream-cp.com

Trey Morgan, A Licensed NC Broker #263808

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