Walgreens NNN Lease | Entrance to 2,300 Acre Golf Resort

4300 Hwy 17 S, North Myrtle Beach, SC 29582, USA
$5,277,778

Description

Marcus & Millichap is pleased to present for sale this Absolute Net Leased Walgreens located at 4300 Highway 17 South in North Myrtle Beach, South Carolina. The subject property consists of a free-standing building comprised of 14,490 square feet of retail space and is situated on a large 1.91-acre parcel of land.
Strategically located on the Hard-Signalized Intersection of Highway 17 and Windy Hill Road, the property is highly visible to more than 47,300 vehicles per day. The property is also conveniently located at the entrance of ‘Barefoot Resort & Golf’ a 2,300-acre resort comprised of 4 premier golf courses and premium resort-style communities along the intracoastal. The property is also within proximity of the Barefoot Landing Waterfront Shopping Center which includes 54 Shops, 15 Restaurants and the Alabama Theater for Live Entertainment. The Grand Strand Airport, which sees over 46,000 flights a year, is also just a few minutes away. The immediate trade area proves to be a strong retail corridor with numerous national and regional tenants it’s vicinity.
Walgreens recently executed a five year extension at this site. With along historical occupancy at this site, Walgreens has shown a strong commitment to the location. The Absolute-Net lease is guaranteed by Walgreens Boots Alliance. Walgreens (NYSE: WBA) is a publicly traded company with an S&P Credit Rating of BBB and is ranked #19 in the Fortune 500 (2020). Walgreen Co. operates over 9,275 stores in all 50 states, the District of Columbia, Puerto Rico and Guam. The company also operates worksite health centers, home care facilities, and specialty and mail service pharmacies.

  • Walgreens Located in Beautiful Myrtle Beach, South Carolina with 14 Million Annual Visitors and Named #1 Spot by Trip Advisor for a Summer Destination
  • Hard Corner Signalized Intersection with Exposure to More than 49,000 Vehicles Per Day
  • Absolute NNN Lease | Recent Lease Extension | More than 6 Years Remain on the Base Term
  • Located at the Entrance to Barefoot Resort, a 2,300 Acre Golf Resort with 4 Premier Golf Courses
  • Surrounded by Many Brand-New home Developments Such as H & H Homes, Lennar at Seabrook Plantation, Park Pointe, and Hidden Brooke by DR Horton
  • Located 5 Minutes from The Grand Strand Airport With 46,000+ Flights Each Year
  • Walgreens is considered an Essential Tenant

Property Documents

  • Walgreens-North-Myrtle-Beach-SC-om-ib
  • City: North Myrtle Beach
  • State/county: Tennessee
  • Zip/Postal Code: 29582
  • Country: United States

Detail

  • Price: $5,277,778
  • Year Built: 2002

Additional details

  • CAP RATE: 5.40%
  • NOI: $285,000

Features