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Walgreens
115 Vernon Street, LaGrange, GA 30240
$3,542,608
Cap Rate 5.75%
Summary
| Price $3,542,608 | Built/Renov 2006 | Tenant Walgreens |
| Cap Rate 5.75% | Lease Type
Abs NNN | Guarantor Corp T and Rated |
| Size/SF
14,379
| Lease Start
01-01-2024
| #Units
8,896
|
| Price/SF $246.37 | Expiration
12-31-2039
| Tenant Type Pharmacy |
| NOI $203,700 | R. Term 16.0 | Ownership Fee Simple |
| Rent/SF
$14.17
| Increases 5.0%/5/yrs | Pop 5Mi 39,811 |
| Lot/AC 1.47 | Options 12/5yrs/5% | AHHI 5Mi $65,632 |
| | |
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Lease Highlights
- Walgreens recently signed a brand new 15-year lease with 12 (5-year) options to extend
- Lease features 5% rental increases eery 5 years throughout the initial term and at the start of each option
- Absolute NNN | Zero landlord responsibilities
- Corporate guarantee by Walgreens Boots Alliance (NASDAQ: WBA)
Location Description
Walgreens is strategically located at the signalized intersection of Lafayette Pkwy and N. Lewis Rd., which see a combined 34,000+ vehicles passing by daily. The property benefits from a strong academic presence, with LaGrange High School and Franklin Forest Elementary School (combined enrollment of over 1,900 students), both located within a one-mile radius. Additionally, it surrounded by...
...Features
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Signalized intersection
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Hard corner intersection
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Near major nationals
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Highway location
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Top 100 MSA
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Brand new lease
-
Long 15+ yr lease
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Traded and rated company
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Corporate Guarantee
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Investment grade tenant
...
Maps
Demographics
| 1 Miles | 3 Miles | 5 Miles | |
| 2028 Total Population : | 6,476 | 29,846 | 40,684 |
| 2023 Total Population : | 6,325 | 29,531 | 40,194 |
| 2023 Employed Civilian Pop : | 2,679 | 12,893 | 17,681 |
| 2023 Total Businesses : | 621 | 1,568 | 1,897 |
| 2023 Average Household Income : | $ 55,783 | $ 62,187 | $ 70,323 |
| 2023 Total Consumer Spending : | $ 120 M | $ 628 M | $ 950 M |
| 2023 Median Age : | 35 | 36 | 37 |
| 2023 Total Households : | 2,446 | 11,512 | 15,447 |
| 2023 Pop Age 25+: Bachelor's Degree : | 333 | 2,338 | 3,832 |
| 2023 Average Home Value : | $ 171,245 | $ 217,609 | $ 242,749 |
Traffic
| Collection Street | Cross Street | Year | Traffic Vol | Distance |
| Vernon Street | Harris St | 2021 | 14,200 | 0.04 mi |
| Broad Street | Church St | 2021 | 6,710 | 0.11 mi |
| Bull Street | E Broome St | 2021 | 2,000 | 0.11 mi |
| S Greenwood St | Margarite St | 2005 | 6,170 | 0.16 mi |
| Broad St | Trinity St | 2005 | 9,400 | 0.18 mi |
| Greenville Street | Morgan St | 2021 | 7,420 | 0.18 mi |
| Main Street | E Broome St | 2021 | 1,370 | 0.20 mi |
| South Greenwood Street | Margarite St | 2021 | 5,510 | 0.24 mi |
| Church Street | W Haralson St | 2021 | 2,750 | 0.25 mi |
| Hamilton Road | Frank Tigner Pl | 2021 | 1,530 | 0.27 mi |
