Carthage NC

• Walgreens extended this lease by 10 years in March of 2024 showing commitment to this location.
• This is an absolute net lease with no landlord responsibilities whatsoever.
• The lease allows for 5% rental increases at each of the options.
• Walgreens is reporting exceptional sales volumes at this location with a rent-to-sales ratio of 2.14%.
• Only freestanding national brand drugstore within a 10-mile radius. Nearest Walgreens is 10.5 miles southwest and nearest CVS is 12.5 miles southwest.

Pharma Property Group is pleased to market for sale the Walgreens property located at 1006 Monroe Street in Carthage, North Carolina (the "Property"). Walgreens has had a long successful operating history at this location (±20 years) and is on an absolute net lease with approximately 11 years on the initial term with no landlord responsibilities whatsoever and rental increases in the option periods.

Walgreens recently agreed to extend the lease by an additional 10 years of firm term showing its commitment to this location well into the future. The property benefits from limited competition as the only free standing national brand drugstore in a 10-mile radius, with the next nearest Walgreens 10.5 miles south and the next nearest CVS being over 12.5 miles southwest. Walgreens has been reporting exceptional sales at this location with rent to sales ratio of 2.14% which is extremely healthy for a drugstore property.

This retail cluster is positioned along highway 27 and serves as one of the main waypoints when driving from Charlotte to west and Fayetteville to the east. There are numerous complimentary retail tenants in the immediate area including Food Lion, Family Dollar, Hardee’s, Dollar General, AutoZone and Sheetz. Pinehurst Resort is located just over 11 miles to the south and will be the site of the 2024 US Open of Golf which is expected to draw in over 250,000 spectators to the area.