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Drug Store

Walgreens

3188 Hwy 278 NE, Covington, GA 30014

Listing Price: $9,945,000

Cap Rate
5.00%
Tenant Name
Walgreens
Years Remaining On Lease
15.7
Guarantor
Corporate Guarantee
Rentable SF
14,820
Lease Type
Absolute Net
Rent Per Square Feet
$33.55

Investment Overview

The Deltondo Group and Marcus & Millichap are pleased to present for sale Walgreens a single-tenant property located at 3188 Highway 278 Northeast, Atlanta (Covington), GA 30014. The subject property is comprised of 14,820 square feet, built-in 2012. The building sits on a large 1.8 acre lot located just off Highway 278 NE (±25,900 VPD). Walgreens operates on an absolute-net group lease backed by a corporate guaranty with 16 years remaining. At the end of the initial term, Walgreens will have fifty, one-year options to extend. ? Walgreen Company or simply Walgreens is an American company that operates as the second-largest pharmacy store chain in the United States behind CVS Health. It specializes in filling prescriptions, health and wellness products, health information, and photo services. As of August 31, 2018, the company operated 9,560 stores in all 50 states, the District of Columbia and the US territories of Puerto Rico and the U.S. Virgin Islands. It was founded in Chicago, Illinois, in 1901. The Walgreens headquarters office is in the Chicago suburb of Deerfield, Illinois.

Investment Highlights

  • Absolute-Net Lease: 16-Years Remain on the Lease.
  • Corporate Guaranty (NASDAQ: WBA): Walgreens, Founded in 1901, has ±9,560 Stores and ±258,500 Employees. Fiscal 2021 Sales Increased 8.6% Totaling $132.5 Billion in Revenue.
  • High Visibility & Ease of Access: The Property is Well Situated on a Major Retail Corridor with Frontage and Access on Highway 278 which Oversees ±25,900 Vehicles Per Day.

Exclusively Listed By

Broker of Record

  • John M. Leonard

    First Vice President/Regional Manager

    (678) 808-2700

    License(s) GA: 252904

    Georgia

Financing By

Listing Price: $9,945,000

Cap Rate
5.00%
Tenant Name
Walgreens
Years Remaining On Lease
15.7
Guarantor
Corporate Guarantee
Rentable SF
14,820
Lease Type
Absolute Net
Rent Per Square Feet
$33.55

Investment Highlights

  • Absolute-Net Lease: 16-Years Remain on the Lease.
  • Corporate Guaranty (NASDAQ: WBA): Walgreens, Founded in 1901, has ±9,560 Stores and ±258,500 Employees. Fiscal 2021 Sales Increased 8.6% Totaling $132.5 Billion in Revenue.
  • High Visibility & Ease of Access: The Property is Well Situated on a Major Retail Corridor with Frontage and Access on Highway 278 which Oversees ±25,900 Vehicles Per Day.

Investment Overview

The Deltondo Group and Marcus & Millichap are pleased to present for sale Walgreens a single-tenant property located at 3188 Highway 278 Northeast, Atlanta (Covington), GA 30014. The subject property is comprised of 14,820 square feet, built-in 2012. The building sits on a large 1.8 acre lot located just off Highway 278 NE (±25,900 VPD). Walgreens operates on an absolute-net group lease backed by a corporate guaranty with 16 years remaining. At the end of the initial term, Walgreens will have fifty, one-year options to extend. ? Walgreen Company or simply Walgreens is an American company that operates as the second-largest pharmacy store chain in the United States behind CVS Health. It specializes in filling prescriptions, health and wellness products, health information, and photo services. As of August 31, 2018, the company operated 9,560 stores in all 50 states, the District of Columbia and the US territories of Puerto Rico and the U.S. Virgin Islands. It was founded in Chicago, Illinois, in 1901. The Walgreens headquarters office is in the Chicago suburb of Deerfield, Illinois.

Exclusively Listed By

Broker of Record

  • John M. Leonard

    First Vice President/Regional Manager

    (678) 808-2700

    License(s): GA: 252904

    Georgia

Financing By

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