305 W Main St
Manchester, GA 31816
Walgreens Manchester GA $1.37M 7.25 CAP · Retail Property For Sale

We are pleased to present for sale the opportunity to acquire the Walgreens property located in Manchester, GA. Walgreens purchased this store and assumed lease obligations in 2018 with its acquisition of ±1,900 Rite Aid locations. The store is currently undergoing an extensive rebranding process which is slated to be completed this spring. Walgreens recently agreed to a 10-year lease extension showing their long-term commitment to this location. There are 9.5 Years of term remaining on a NN lease with landlord responsible for roof and structure. Roof was replaced in 2014 and carries a transferable 20-year warranty. This lease allows for rare 5% rent increases in the remaining five (5-year) options. Income guaranteed by Walgreens corporation which has an investment grade credit rating of BBB (S&P) and is a top 20 Fortune 500 company with approximately 9,500 locations. There is only one drugstore within a five-mile radius which is a CVS approximately 0.3 miles northwest of the subject property making this a strategic location for both Walgreens and CVS. There are no other Walgreens properties for over 17 miles. The subject property is located one block from Fifth Avenue Shopping Center, a 44,100 square foot plaza with anchor tenants such as Family Dollar, SouthCrest Bank and Subway. The next closest substantial retail corridor is located 31 miles northwest in La Grange, GA.