Walgreens

1903 S. Lake Drive, Lexington, SC
Deal Type:
Net Lease
Price:
$6,240,000
Cap Rate:
4.75%
Current Rent:
$296,400
Lease Expiration Date:
Approx. 13 years
Renewal Options:
Twelve, 5 Year Options
Building Sq. Ft.:
14,964 SF
Rent Increases:
5% every 5 years (Initial Term and Options)
Site Size:
2.03 Acres

Investment Highlights

  • Due to the strength of this location Walgreens executed a brand new 13-year lease with increases throughout initial term and options – providing passive investment opportunity
  • Walgreens has been in this location since 2008 showing their long- term commitment to this location
  • Property located on a hard-corner signalized intersection with daily traffic count of more than 30,700 vehicles per day (combined at intersection)
  • Densely populated location with over 56,900 residents and household incomes with over $83,600 within a 5-mile radius from property

Listing Agents

Adam Baxter

Vice President
205 394 3520
abaxter@stream-cp.com

Connor Shell

Managing Director
407 913 9009
connor@stream-cp.com

Phil DiGennaro

Managing Director
203 610 1541
phil@stream-cp.com

In Association with ParaSell, Inc. | A Licensed South Carolina Broker #23763

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