1602 ExpresswayGriffin, GA 30223

  • Retail properties
  • 14,725 SF
For Sale
$4,190,400 View listing

Property Details for 1602 Expressway

Year built
2007
Lot size
1.94 AC
Property size (Sq ft)
14,725 SF
Property type
Retail properties
Property subtype
Other retail properties

Description

This exceptional investment opportunity presents a 14,725-square-foot Walgreens pharmacy located at 1602 N Expy, Griffin, GA 30223. The property sits on a 1.94-acre lot and boasts a 100% occupancy rate with a strong, creditworthy tenant. The Walgreens lease features an absolute NNN structure with 13.6 years remaining, providing significant long-term stability and minimal landlord responsibilities. Rent increases of 5% are built into the lease every five years, ensuring consistent growth in rental income. The property's strategic location benefits from high visibility on North Expressway and McIntosh Road, experiencing over 49,300 vehicles per day. Its proximity to major retailers, educational institutions (including Southern Crescent Technical College and the University of Georgia Griffin Campus), and Wellstar Spalding Medical Center further enhances its value. The property's NOI is $261,900, resulting in a 6.25% cap rate. The asking price is $4,190,400, translating to $284.58 per square foot. The lease includes twelve 5-year renewal options, providing substantial long-term income potential. Built in 2007, this asset offers a compelling investment opportunity for those seeking a stable, high-performing retail property with a proven track record. The property is ranked in the 81st percentile of Walgreens stores in Georgia, and is adjacent to highly-ranked shopping centers. This presents a passive income opportunity with exceptional real estate fundamentals.

1602 Expressway, Griffin, Georgia

Location Insight

City
Griffin
County
Spalding
State
Georgia
Latitude
33.2747
Longitude
-84.2904

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].