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Walgreens 3188 Highway 278 NW 14,820 SF Retail Building Covington, GA 30014 $7,103,000 ($479.28/SF) 7% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute Triple-Net (NNN) Lease with Over 12 Years Remaining on Lease Term and Multiple Renewal Options
- 50,502 Residents within a Five-Mile Radius - Growing Trade Area in the Atlanta MSA
- Less Than One Mile from Piedmont Newton Hospital, a 107-Bed Facility Staffed by 800+ Employees and 500+ Physicians
- Corporate Guaranty by Walgreens, the Largest Drug Retailing Chain in the U.S.
- Hard Corner Location, Accessible by 45,000+ Combined Cars per Day via US Highway 278 and Elm Street NE
- Highly Visible and Easily Accessible Location Along US Highway 278
EXECUTIVE SUMMARY
Walgreens is an American pharmaceutical company which operates the largest drug retailing chain in the United States of America.
Covington is the county seat of Georgia's Newton County and is part of the Atlanta metropolitan area. The city's thriving downtown is home to boutiques, antique shops, and restaurants. Residents and visitors alike enjoy quiet residential areas, local parades, concerts in the park, and "Christmas in Covington."
Covington is the county seat of Georgia's Newton County and is part of the Atlanta metropolitan area. The city's thriving downtown is home to boutiques, antique shops, and restaurants. Residents and visitors alike enjoy quiet residential areas, local parades, concerts in the park, and "Christmas in Covington."
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,820 SF
Building Class
A
Year Built
2012
Price
$7,103,000
Price Per SF
$479.28
Cap Rate
7%
NOI
$497,250
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Lot Size
1.80 AC
Zoning
C1
Parking
66 Spaces (4.45 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Corner Lot
- Dedicated Turn Lane
- Signage
- Signalized Intersection
- Drive Thru
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | C021000020001A00 | Improvements Assessment | $680,462 |
| Land Assessment | $208,738 | Total Assessment | $889,200 |
PROPERTY TAXES
Parcel Number
C021000020001A00
Land Assessment
$208,738
Improvements Assessment
$680,462
Total Assessment
$889,200
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Walgreens | 3188 Highway 278 NW
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