High Point, NC

Price: $ 7,300,000
CAP Rate: 6.00%
NOI: $ 438,000
Lease Term Remaining Before Options: 12 Years 10 Months
Investment Highlights
  • Dense Retail & Manufacturing Corridor, 16.2 Million SF of Industrial/Manufacturing Space and 2.4 Million SF of Retail in a 2 Mile Radius
  • Furniture Industry/Hosts High Point Market. Largest Furniture Trade Show in the World, Occurs Twice a Year and Draws 140K-180K Visitors Annually
  • Thomas Built Bus Headquarters, Leading Manufacturer of School Buses in North America with 1,700 employees (0.7 Mi W)
  • High Point University, Located on 430 Acres, Enrolls ±6,000 Students and Employs ±1,600 Staff (3.5 Mi N)
  • Wake Forest Baptist Health High Point Medical Center Full Service Hospital Serving ±600,000 Residents, with 351 Beds and 2,100 Employees (4.0 Mi NW)
  • Ralph Lauren Call Center & Warehouse Customer Service Center 843,000 SF Facility Employing 2,687 (5.1 Mi NE)
Offering Summary

Pharma Property Group is pleased to market for sale the Walgreens property located at 2758 South Main Street, High Point, North Carolina (the "Property"). Walgreens has just under 13 years remaining on the initial lease term with no landlord responsibilities whatsoever.

The Property sits in a dense retail and industrial corridor and is located a mile south of US Highway 70, which is a major artery connecting Greensboro to Charlotte. There is about 2.4 million square feet of retail space within a 2 mile radius of the Property and within a half mile of the Property are major national tenants such as Walmart, Food Lion, Planet Fitness, Aldi, McDonald’s, Chipotle, Burger King, Taco Bell and AT&T.

High Point is known for its furniture industry and hosts the High Point Market, the largest home furnishing trade show in the world with over 11 million square feet and 200,000 exhibitors throughout 180 buildings. Within a 2-mile radius of the Property there is 16.2 million square feet of industrial space boasting a 98.8% occupancy rate.

High point is located between several major markets such as Greensboro, Raleigh and Charlotte, NC with a growing population currently at 94,000 in a 5 mile radius.

Price: $ 7,300,000
CAP Rate: 6.00%
NOI: $ 438,000
Lease Term Remaining Before Options: 12 Years 10 Months