This property has sold.

Details: Retail

Asking Price: $3,330,000

Square Feet: 14,820 SF

Asking Cap Rate: 7.5%

Year Built: 2006

NOI: $250,000

Lease Structure: Absolute NNN

SOLD – Absolute NNN Walgreens (Sublet to Dollar Tree)

1146 Cheraw St, Bennettsville, SC 29512

• 9 years of Guaranteed Walgreens Rent

• Excellent visibility and access at signalized corner

• Investment Grade Tenant and subtenant

• Extensive recent renovations of Façade and interior by tenant (2021)

• Walgreens and Dollar Tree Credit Rating: Baa+ by S&P

• NASDAQ: Walgreens (WBA) and Dollar Tree (DLTR)

• Walgreens lease term 75 years

• Sublet to Dollar Tree in 2021

• Absolute NNN Lease with Zero Landlord responsibilities

• Both Walgreens and Dollar Tree are Fortune 500 Companies


Built exclusively for Walgreens in 2006, this asset offers a 75-year Walgreens lease with over 9 years of term remaining. Walgreens has a one time right to terminate in 2032. In 2021 Walgreens sublet the building to Dollar Tree. Walgreens remains responsible for the term of the lease and acts as Landlord to Dollar Tree. This is an Absolute NNN lease with Zero Landlord responsibilities. The buildings interior andfaçade underwent a complete renovation paid for by Walgreens upon subleasing to Dollar  Tree.

The asset has a drive-thru and is located at a signalized corner offering great visibility and access. Located at the primary retail center of Bennettsville. Dollar Tree is a top 30% performer here in the state and in the country per data from Dollar Tree remains an essential retailer and is poised to continue its success in the years to come. If Walgreens acts on their termination right, the Landlord will have the opportunity to negotiate a new lease with Dollar Tree directly.

This property has sold.