7691 Post RdNorth Kingstown, RI 02852

This exceptional investment opportunity presents a fee-simple, 12,086 square foot Walgreens located at 7691 Post Rd, North Kingstown, RI 02852. The property sits on a 3.1-acre lot and boasts an absolute NNN lease with a corporate guarantee from Walgreens Boots Alliance (NASDAQ: WBA), eliminating landlord responsibilities. Built in 1999, this single-story building enjoys 100% occupancy since its lease commencement on May 31, 2008, with the current lease expiring May 31, 2028. The property benefits from eight lease options, including a 10% rent increase in the next option period, offering significant long-term growth potential. The asking price is $3,484,800, representing a 7.00% cap rate and a current NOI of $243,936. This prime location on a main thoroughfare sees over 17,000 cars daily, benefits from excellent visibility due to a signalized intersection, and is situated in a high-income area with average household incomes exceeding $125,000 within a one-mile radius. Limited competition from other national pharmacies (nearest competitor is 2.5 miles away) further enhances the property's value. Nearby national retailers include Kohl's, O'Reilly's, HomeGoods, Chipotle, and Dunkin', solidifying the area's strong retail presence. The property's proximity to Newport, RI, a highly affluent city, adds to its appeal. This is a rare opportunity to acquire a well-performing, low-maintenance retail investment in a desirable location.