loader
Join Free
Views: 154 DOM: 669 Updated: 10.21.24 Posted: 01.22.23 Status: Active

Summary

Price $2,011,911
Built/Renov 1996
Tenant Walgreens
Cap Rate 6.75%
Lease Type NN+
Guarantor Corp T and Rated
Size/SF 11,220
Lease Start 11-21-1996
#Units 13,532
Price/SF $179.31
Expiration 10-01-2027
Tenant Type Pharmacy
NOI $135,804
R. Term 2.10
Ownership Fee Simple
Rent/SF $12.10
Increases 0.0%/4/yrs
Pop 5Mi 35,123
Lot/AC 0.99
Options 6/5yrs/20%
AHHI 5Mi $60,582

Lease Highlights

  • Walgreens has been operating in this location since 1996
  • The tenant signed a 10-year lease extension in 2017, showing their long-term commitment to this location
  • The lease features 6 (5-year) options to extend with a 20% rental increase in 2027
  • The Landlord replaced the roof in 2017 which shall provide the future landlord with limited ongoing maintenance
  • Rare opportunity to acquire a Walgreens at a low basis ($180/SF)
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreens is strategically located at the signalized, hard corner intersection of S Hill Street, and W College Street which averages a combined 14,610 vehicles passing by daily. It benefits from no immediate competition from other large pharmacies such as CVS or Rite Aid as the nearest competitor is 1 mile away. The property is in downtown Griffin, GA and less than 2 blocks from Wellstar...

...

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Walgreens is an American company that operates the second-largest pharmacy store chain in the United States. It specializes in filling prescriptions, health and wellness products, health...


...

Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 7,470 32,627 49,656
2023 Total Population : 7,403 32,355 48,542
2023 Employed Civilian Pop : 2,888 12,962 19,550
2023 Total Businesses : 718 1,563 1,823
2023 Average Household Income : $ 47,979 $ 62,264 $ 69,189
2023 Total Consumer Spending : $ 125 M $ 682 M $ 1131 M
2023 Median Age : 37 38 39
2023 Total Households : 2,957 12,458 18,668
2023 Pop Age 25+: Bachelor's Degree : 540 2,431 3,901
2023 Average Home Value : $ 173,534 $ 183,440 $ 205,777
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
South Hill Street E Taylor St 2019 11,100 0.14 mi
S Hill St W Oak St 2013 8,590 0.14 mi
West Poplar Street S 8th St 2021 6,820 0.16 mi
West College Street S Collins St 2021 980 0.16 mi
West College Street S 9th St 2019 990 0.16 mi
West College Street S 9th St 2018 1,140 0.16 mi
S 8th St W Poplar St 2005 2,440 0.17 mi
South 8th Street W Bank St 2021 6,510 0.17 mi
South 8th Street Graefe St 2019 6,600 0.17 mi
South 6th Street E Poplar St 2019 3,780 0.21 mi

Listing Broker

Loading...
Disclaimer & Confidentiality
All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT

GET IN TOUCH

my activity