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5707 Veterans Pky 14,378 SF Retail Building Columbus, GA 31904 $3,120,923 ($217.06/SF) 6.50% Cap Rate
Executive Summary
Atlantic Capital Partners has been exclusively engaged to solicit offers for the sale of Walgreens located at 5707 Veterans Parkway in Columbus, Georgia. The offering is 14,462 SF and sits atop 1.73 acres at the signalized intersection of Veterans Parkway and Whitesville Road, collectively seeing over 48,510 VPD. The subject property is located just five miles from downtown Columbus, Georgia’s second-largest city and major economic hub in Southwest Georgia.
Walgreens executed a long-term Abs NNN lease with rent commencing in January 2023. The 15-year lease provides just under 13 years of term remaining with Twelve (12), Five (5) Year Options thereafter. Walgreens is currently paying$202,860 with 5% rent increases every 5 years and at the start of each option. The lease is corporately guaranteed and calls for no landlord responsibilities, providing an investor surety of
cash flow and a passive investment.
Walgreens executed a long-term Abs NNN lease with rent commencing in January 2023. The 15-year lease provides just under 13 years of term remaining with Twelve (12), Five (5) Year Options thereafter. Walgreens is currently paying$202,860 with 5% rent increases every 5 years and at the start of each option. The lease is corporately guaranteed and calls for no landlord responsibilities, providing an investor surety of
cash flow and a passive investment.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,378 SF
Building Class
C
Year Built
2001
Price
$3,120,923
Price Per SF
$217.06
Cap Rate
6.50%
NOI
$202,860
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Lot Size
1.73 AC
Zoning
Commercial
Frontage
Amenities
- Bus Line
- Signage
- Signalized Intersection
- Drive Thru
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- -
Walgreens is a U.S.-based retail pharmacy operator providing prescription drugs, health services, and consumer goods through neighborhood drugstores and digital platforms. The company was founded in 1901 by Charles Rudolph Walgreen in Chicago, Illinois. Over time, Walgreens expanded nationwide and became one of the largest pharmacy chains in the United States. In 2014, Walgreens became part of the newly formed holding company Walgreens Boots Alliance following the acquisition of Alliance Boots.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | - |
Nearby Major Retailers
Property Taxes
| Parcel Number | 188-004-047 | Improvements Assessment | $535,866 |
| Land Assessment | $361,720 | Total Assessment | $897,586 |
Property Taxes
Parcel Number
188-004-047
Land Assessment
$361,720
Improvements Assessment
$535,866
Total Assessment
$897,586
Contacts
-
David Hoppe -
Eric Suffoletto -
Danny Griffin -
Ben Olmstead -
Atlantic Capital Partners
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5707 Veterans Pky
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