501 Us Highway 84 E
Cairo, GA 39828
Retail Property For Sale

Marcus & Millichap is pleased to announce the investment offering of an absolute-net corporate leased Walgreens Pharmacy located at 501 US Hwy 84 in Cairo, GA. The 14,550/sf drug store property is situated on a 2.305 acre site and the lease currently has over 15 years of firm base term remaining at the asset. Construction of the property was completed in 2008 under a 75 year lease with 25 years firm. Walgreens is the largest drug store operator in the US (Walgreen Co. S&P BBB) and is a subsidiary of Walgreens Boots Alliance. The property is situated on a busy artery and at a four-way signalized intersection in Cairo, GA. Cairo is a community approximately 35 miles north of Tallahassee, Florida. The roadway sees ~20,000 VPD, is within 1.5mi of the regional medical hub, Grady General Hospital; as well being one mile from Cairo High School & Eastside Elementary (approx. 1,800 in combined student enrollment). Cairo is the county seat of Grady County positioned between Thomasville and Bainbridge and is 15 miles north of the Florida boarder. Grady County is accessible to both Alabama and Florida, as well as is an approximately 50-minute drive from the Tallahassee International Airport. The closest Walgreens location is 15 miles away, giving the Cairo location a large geographic circumference to draw upon. Other retailers in direct proximity to the location are, but not limited to: McDonald's; Wal-Mart Super Center; Burger King; O'Reilly Auto Parts; Dollar Tree; Pizza Hut; Zaxby's; and Rite Aid. An astute investor will seize the opportunity to acquire a long-term, absolute-net lease to a credit rated tenant at a very attractive going yield of 6.75%