Walgreens

300 North Slappey Boulevard, Albany, GA 31701

$4,896,000

Cap Rate 6.25%

Views: 0 DOM: 45 Updated: 12.04.23 Posted: 10.27.23 Status: Active

Summary

Price $4,896,000	Built/Renov 2008	Tenant Walgreens
Cap Rate 6.25%	Lease Type Abs NNN	Guarantor Corp T and Rated
Size/SF 14,740	Lease Start 02-15-2008	#Units 8,896
Price/SF $332.16	Expiration 02-28-2033	Tenant Type Pharmacy
NOI $306,000	R. Term 9.2	Ownership Fee Simple
Rent/SF $20.76	Increases 0.0%/0/yrs	Pop 5Mi 76,366
Lot/AC 2.30	Options 50/1yrs	AHHI 5Mi $58,457

Lease Highlights

Walgreens has been operating in this location since 2008
Tenant has 9+ years remaining on the base term with 50 (1-year) termination options
Strong sales trends | Sales increased 14% y-o-y in 2021 | Speak with Agent for details
Absolute NNN | Zero landlord responsibilities
Lease backed by Walgreens’ investment-grade credit | BAA3/BBB | Ranked #42 on the Fortune 500

Location Description

Walgreens enjoys exceptional accessibility and high visibility due to its strategic location at the intersection of three primary thoroughfares: Slappey Blvd, Pine Ave, and Roosevelt Ave, where the combined daily traffic count averages 67,150 vehicles. This site is conveniently positioned in close proximity to Albany High School, which has an enrollment of over 800 students. Moreover, the...

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Features

Signalized intersection
In location for years
High traffic 50M+ VPD
Strategically located
Hospital close
Strong sales history
Absolute NNN
Traded and rated company
Corporate Guarantee
Investment grade tenant

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Links

Walgreens Wikipedia Walgreens Wikipedia Albany, Georgia Zip Code 31701 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Walgreens
Guarantor:Corp T and Rated
Company:Walgreens Boots Alliance
# Units:8,896
Tenant S&P: BBB
Moody’s: Baa3
Stock:NASDAQ: WBA

About Tenant

Walgreens is an American company that operates the second-largest pharmacy store chain in the United States. It specializes in filling prescriptions, health and wellness products, health...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	6,139	41,070	75,211
2023 Total Population :	6,257	41,940	76,293
2023 Employed Civilian Pop :	2,215	15,313	30,463
2023 Total Businesses :	622	2,224	3,573
2023 Average Household Income :	$ 48,975	$ 63,458	$ 68,768
2023 Total Consumer Spending :	$ 123 M	$ 970 M	$ 1889 M
2023 Median Age :	36	35	35
2023 Total Households :	2,838	17,365	31,337
2023 Pop Age 25+: Bachelor's Degree :	390	3,176	6,889
2023 Average Home Value :	$ 130,668	$ 170,305	$ 187,243

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
N Slappey Blvd	Flint Ave	2005	37,260	0.08 mi
Pine Ave	Gillionville Rd	2005	10,530	0.10 mi
US 19 Business;US 82	Flint Ave	2021	30,600	0.15 mi
North Slappey Boulevard	W Broad Ave	2019	31,600	0.15 mi
Pine Avenue	N Harding St	2021	9,930	0.20 mi
Pine Avenue	N Harding St	2018	5,670	0.20 mi
N Slappey Blvd	W Tift Ave	2005	24,680	0.31 mi
North Slappey Boulevard		2019	28,100	0.31 mi
North Slappey Boulevard	Oglethorpe Ave	2021	24,700	0.31 mi
Flint Avenue	N Davis St	2019	700	0.33 mi

Listing Broker

Aron Cline

Berkeley Capital Advisors

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85 Listings
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Calvin Short

Berkeley Capital Advisors

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90 Listings
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Aron Cline

Specializing in Single Tenant Net Lease and Shopping Centers, Aron Cline leads Berkeley Capital Advisors’ West Coast Office. Since 2011, Aron has been actively engaged in the commercial real estate space. Over the last decade, he and his team have been regarded as one of the most active brokerage teams in the country - having brokered over 1,300 transactions totaling $3.5 billion. His dedication and success have earned him the trust of some of the country’s top institutions, developers, high ne

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Calvin Short

Calvin Short joined Berkeley Capital Advisors in 2021 and leads the West Coast capital markets group. Since joining Berkeley, Calvin has been a part of closing 1,400 separate transactions with $4 billion in sales volume. Prior to Berkeley, Calvin served as Senior Vice President at Matthews REIS where he was consistently ranked within Matthews’ top five producing agents. In 2012, he graduated from The University of San Diego with a B.A. in Real Estate Finance. Calvin has spent the past 10 years

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