December 20, 2021 – Kyle Danielson of Horvath & Tremblay has successfully completed the sale of Walgreens in Elizabeth City, North Carolina. Horvath & Tremblay represented the buyer to complete this transaction at a sale price of $5,909,091.
Walgreens is located at 1700 W Ehringhaus Street in Elizabeth City, North Carolina. The stand-alone building contains 14,628 square feet, including a drive through on a 2.18-acre lot. Walgreens has been at this location since its construction in 2007 and has 10+ years remaining on an Absolute NNN Lease, as well as ten (10), 5-year renewal options. Walgreens has consistently demonstrated strong store sales at this location. This Walgreens is extremely well positioned in the trade area, on the high traffic corner of W Ehringhaus Street and Halstead Boulevard. W Ehringhaus Street (US Route 17 Business) is the primary commercial corridor in the city and connects with US Route 17 (South Hughes Boulevard), the regions primary commuter corridor approximately 0.4-miles away. The property is surrounded by national retailers with Lowes, Food Lion, Big Lots, McDonalds, Chick-fil-A, Burger King, and more anchoring the trade area.
Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.