Rite Aid

Agent Info

Michael Gaggo

248.702.0287
mgaggo@encorereis.com

Deno Bistolarides

248.702.0288
denob@encorereis.com

Brandon Hanna

248.702.0290
bhanna@encorereis.com

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Offering Information

1909 N Church Street
Burlington, NC 27217

  • Price: $1,927,200
  • Cap. Rate: 7.5%
  • NOI: $144,540
  • Building Size: 9,504SF
  • Lot Size: 1.225 AC

Investment Highlights

  • Absolute Net Lease | Zero Landlord Responsibilities
  • Prototypical Build with Drive-Thru
  • Low Price Point Drug Store - Base Rent: $15.20 per S/F
  • Tenant Shows Strong Commitment to Site
  • Two (2), Five-Year Options with Rental Increases
  • Tenant Recently Negotiated a Minute Clinic Space on Site
  • Excellent Points of Ingress and Egress from Both Directions
  • Brand New Wendy’s Recently Constructed Adjacent to Subject Site | Sheetz& Lidl Under Construction Across the Street from Subject Site
  • Average Household Income within a 5 Mile Radius is $48,415
  • Population within 5 Mile Radius Exceeds $81,818 People
  • North Church Street and S Graham Hopedale Road boasts CombinedTraffic Counts of 35,284 VPD +/-
  • Neighboring National Tenants Include: Food Lion, Dollar Tree, McDonald’s,Taco Bell, Walmart Supercenter, Ollie’s Bargain Outlet, Wendy’s, and more