Walgreens

405 S Hill Street, Griffin, GA 30224

  • For Sale $2,403,616
  • Property Type Retail - Freestanding
  • Property Size 11,220 SF
  • Lot Size 0.99 Acre
  • Additional Rent Contact for pricing
  • Property Tenancy Single Tenant
  • Year Built 1996
  • Year Renovated 2018
  • Date Updated Oct 29, 2024
Atlanta is the capital and most populous city of the U.S. state of Georgia. It is the seat of Fulton County, although a portion of the city extends into neighboring DeKalb County. With a population of 498,715 living within the city limits, it is the eighth most populous city in the Southeast and 38th most populous city in the United States according to the 2020 U.S. census. It is the core of the much larger Atlanta metropolitan area, which is home to nearly 7 million people, making it the eighth-largest metropolitan area in the United States. With a GDP of $385 billion, the Atlanta metropolitan area's economy is the 11th-largest in the country and the 22nd-largest in the world. Corporate operations play a major role in Atlanta's economy, as the city claims the nation's third-largest concentration of Fortune 500 companies (tied for third with Chicago). It also hosts the global headquarters of several corporations such as The Coca-Cola Company, The Home Depot, Delta Air Lines, Arby's, AT&T Mobility, Georgia-Pacific, Chick-fil-A, Church's Chicken, Dunkin Donuts, Norfolk Southern Railway, Mercedes-Benz USA, NAPA Auto Parts, Papa Johns, Porsche AG, Newell Brands, Marble Slab Creamery, and UPS. Over 75% of Fortune 1000 companies conduct business operations in the city's metro area, and the region hosts offices of over 1,250 multinational corporations. Atlanta started as a railroad town, and logistics has been a major component of the city's economy to this day. Atlanta serves as an important rail junction and contains major classification yards for Norfolk Southern and CSX. Since its construction in the 1950s, Hartsfield–Jackson Atlanta International Airport (ATL) has served as a key engine of the city's economic growth. Delta Air Lines, the city's largest employer and the metro area's third-largest, operates the world's largest airline hub at Hartsfield-Jackson, and it has helped make it the world's busiest airport, in terms of both passenger traffic and aircraft operations. Partly due to the airport, Atlanta has been also a hub for diplomatic missions; as of 2017, the city contains 26 consulates general, the seventh-highest concentration of diplomatic missions in the US. Broadcasting is also an important aspect of Atlanta's economy. Notable sports networks headquartered in Atlanta include Warner Bros. Discovery Sports, NBA TV, Bally Sports South, and Bally Sports Southeast. The Weather Channel is also based just outside of the city in suburban Cobb County. Information technology (IT) has become an increasingly important part of Atlanta's economic output, earning the city the nickname the "Silicon peach". As of 2013, Atlanta contains the fourth-largest concentration of IT jobs in the US, numbering 85,000+. The city is also ranked as the sixth fastest-growing for IT jobs, with an employment growth of 4.8% in 2012 and a three-year growth near 9%, or 16,000 jobs. Companies are drawn to Atlanta's lower costs and educated workforce. Recently, Atlanta has been the center for film and television production, largely because of the Georgia Entertainment Industry Investment Act, which awards qualified productions a transferable income tax credit of 20% of all in-state costs for film and television investments of $500,000 or more. Film and television production facilities based in Atlanta include Turner Studios, Pinewood Atlanta Studios, Tyler Perry Studios, Williams Street Productions, and the EUE/Screen Gems soundstages. Film and television production injected $9.5 billion into Georgia's economy in 2017, with Atlanta garnering most of the projects. Atlanta has emerged as the all-time most popular destination for film production in the United States and one of the 10 most popular destinations globally.

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Attachments

Highlights

  • 20% RENTAL INCREASE -a large 20% rental increase at the next tenant option. Tenant has reached out to Landlord multiple times about extending the lease for up to 10-years.
  • STRONG STORE SALES - Walgreens reported $2,421,000 in store sales for the 2023 fiscal year.
  • LOW PRICE POINT WALGREENS INVESTMENT - Rare opportunity to acquire a Walgreens at a low basis.
  • EXCELLENT AREA - Walgreens is located directly next to national tenant, Ace Hardware and is near several other major national tenants including Advance Auto Parts, Lowe's, Kroger, Aldi, Burger King, KFC, McDonald's, Krystal, Dairy Queen, and many more.
  • CORPORATE CREDIT RATED TENANT - Corporately Guaranteed Lease by Walgreens Boots Alliance (WBA), a publicly traded company with a BBB- Credit Rating.
  • SITE COMMITMENT - The tenant signed a 10 year lease extension in 2017, showing their long term commitment to this location.
  • LARGE FUTURE RENTAL INCREASE - There is a 20% rental increase available in 2027, affording a potential investor significant upside and potential appreciation in value should the tenant exercise their option to renew.
  • MINIMAL LANDLORD RESPONSIBILITY - NN Lease with Landlord responsible for roof and structure only. The Landlord replaced the roof in 2017 which shall provide the future landlord with limited ongoing maintenance.
  • ATLANTA, GA MSA - Griffin is part of the Atlanta Georgia MSA, home to the #1 Busiest Airport in the World and the 9th largest Economy in the United States.

Contacts

broker

Paul Matusik

Prime Net Lease

Location

Getting Around

  • Walk Score ®

    69/100 Somewhat Walkable
  • Bike Score ®

    49/100 Somewhat Bikeable
Powered by Walk Score ®
  • City Griffin, GA
  • Zip Code 30224

Points of Interest

  • Chevron

    0.34 miles

  • BP

    0.36 miles

  • Liberty

    0.59 miles

  • Shell

    0.78 miles

  • Marathon

    1.51 miles

  • Gulf

    2.50 miles

  • Murphy USA

    2.63 miles

  • City of Griffin Parking Deck

    0.30 miles

  • Griffin Park & Ride

    2.11 miles

  • Weaver Lot

    9.97 miles

  • Burger King

    0.21 miles

  • Waffle House

    0.44 miles

  • Krystal

    0.45 miles

  • Checkers

    0.62 miles

  • Taco Bell

    0.64 miles

  • Bojangles'

    0.71 miles

  • Chick-fil-A

    0.84 miles

  • DQ Grill & Chill

    0.89 miles

  • Sonic

    1.04 miles

  • Tim's Country Cookin

    1.22 miles

  • Food Depot

    1.12 miles

  • ALDI

    1.39 miles

  • Sears

    1.59 miles

  • Kroger

    1.72 miles

  • Ross

    2.29 miles

  • Marshalls

    2.62 miles

  • Walmart Supercenter

    2.70 miles

  • Bealls

    2.73 miles

  • Belk

    2.81 miles

  • Big Lots

    2.87 miles

Frequently Asked Questions

How much does Walgreens cost?

The space currently listed for sale at Walgreens asks for $2,403,616.

What is the total square footage of Walgreens?

Walgreens totals 11,220 square feet.

When was this property built?

Walgreens was built in 1996.

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Contact Listing Broker

broker

Paul Matusik

Prime Net Lease