Drug Store

Walgreens

120 Curry St NE, Pelham, GA 31779

Listing Price: $355,000

Cap Rate
9.52%
Tenant Name
Walgreens
Years Remaining On Lease
2.5
Gross SF
8,000
Guarantor
Corporate Guarantee
Rentable SF
8,000
Price/Gross SF
$44.38
Lease Type
Modified Gross
Rent Per Square Feet
$4.50

Investment Overview

Pelham is at the crossroads of US 19 and SR-93 and is 38 miles (61 km) south of Albany and about 26 miles (42 km) north of Thomasville. Pelham is also known for cotton, pecans, and speed traps located on the main highway.

Investment Highlights

  • Re-Negotiate Lease Structure, Sell at 7-Cap for $171k Gain on $400k Acquisition
  • Zero National Credit Competition: Nearest WAG 9 Miles Away
  • Long Term Historical Occupancy Bolstered by Conversion Costs: ~$385,000
  • Strongest Corner in Town (Across from City Hall)
  • 11% Increase on 5-Year Renewal Option (08/2023)

Exclusively Listed By

Broker of Record

  • John M. Leonard

    First Vice President/Regional Manager

    License(s): GA: 252904

    Georgia

Financing By

Listing Price: $355,000

Cap Rate
9.52%
Tenant Name
Walgreens
Years Remaining On Lease
2.5
Gross SF
8,000
Guarantor
Corporate Guarantee
Rentable SF
8,000
Price/Gross SF
$44.38
Lease Type
Modified Gross
Rent Per Square Feet
$4.50

Investment Highlights

  • Re-Negotiate Lease Structure, Sell at 7-Cap for $171k Gain on $400k Acquisition
  • Zero National Credit Competition: Nearest WAG 9 Miles Away
  • Long Term Historical Occupancy Bolstered by Conversion Costs: ~$385,000
  • Strongest Corner in Town (Across from City Hall)
  • 11% Increase on 5-Year Renewal Option (08/2023)

Investment Overview

Pelham is at the crossroads of US 19 and SR-93 and is 38 miles (61 km) south of Albany and about 26 miles (42 km) north of Thomasville. Pelham is also known for cotton, pecans, and speed traps located on the main highway.

Exclusively Listed By

Broker of Record

  • John M. Leonard

    First Vice President/Regional Manager

    License(s): GA: 252904

    Georgia

Financing By

MM Texture Background
MM Textured Background Lower