Walgreens – Loganville, GA

$7,000,000
Price
$420,000
Noi
6.0%
Cap Rate
14,490
Leasable Area
2005
Year Built

CONTACT US REGARDING THIS LISTING

Ben Schultz

Senior Director

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OFFERING MEMORANDUM

Fortis Net Lease is pleased to present this 14,490 SF Walgreens store located in Loganville, Georgia. The property is encumbered with a 25 Year Absolute NNN Lease, leaving zero landlord responsibilities. The lease contains ten (5 year) options to renew and is corporately guaranteed by Walgreens Corporation which holds a credit rating of “BBB”, which is classified as Investment Grade. The store is currently open with rent having commenced in August 2006.

This Walgreens is highly visible as it is strategically positioned on the signalized corner of Atlanta Highway (which sees 33,613 cars per day) and Main Street (which sees 5,929 cars per day). The five mile population from the site exceeds 75,500, while the one mile average household income exceeds $67,900 per year, making this location ideal for a Walgreens. This area is experiencing great growth with the five mile population growth rate at 7.16%. The Subject offering represents an ideal opportunity for a 1031 exchange buyer or a “passive” investor to attain the fee simple ownership of a Walgreens. This investment will offer a new owner continued success due to the financial strength and the proven profitability of the tenant. List price reflects a 6.00% cap rate based on NOI of $420,000.

INVESTMENT HIGHLIGHTS
• 25 Year Absolute NNN Lease | Zero Landlord Responsibilities
•Ten (5 Year) Options to Renew
• Tenant Required to Pay Percentage Rent
• Situated on a Highly-Trafficked, Signalized Hard Corner
• One Mile Household Income Exceeds $67,900
• Five Mile Population Growth Rate 7.16%
• Five Mile Population Exceeds 75,500
• 33,613 Cars Per Day on Atlanta Highway
• Five Mile Population Growth Rate 7.16%
• Investment Grade Store | BBB Credit Rating
• Surrounded by Many Major Retailers & Local Schools

Instate Broker of Record: Steve Miller | Miller Realty Services | License # 11102