Walgreens

Walgreens

211 West College Street
Colquitt, GA

Price: $766,000
Cap: 7.25%
NOI: $55,500
Building Size: 6,732 SF
Lot Size: 0.82 AC

Investment Highlights

WALGREENS RECENTLY RENEWED LEASE EARLY
• The subject property is 6,732 SF Walgreens that sits on 0.58 acres in Colquitt, GA.
• This has been a drug store location for over 20 years and Walgreens recently exercised a 5-year option early demonstrating their commitment to the location.
• There are approximately 7.5 years remaining on the current lease term with an additional 5 year option period.
• Walgreens is responsible for taxes, insurance, and CAM and Landlord is responsible for roof and structure.

ATTRACTIVE LOW RENT & STRONG SALES
• The current rent being paid at this location is $55,500 ($8.25% per SF) which is below market and equates to a low price point of $766,000.
• This location has maintained strong store sales of over $3M for the last 5 years which equates to a very healthy rent to sales ratio of under 2%.

NO DRUG STORE COMPETITION
• There are no other national pharmacies in the city of Colquitt.
• The nearest Walgreens is 14 miles South of this location.
• The nearest CVS is over 20 miles away from this location.

STRATEGICALLY LOCATED NEAR HOSPITAL
• This Walgreens is strategically located in the center of downtown Colquitt and less than a mile from the Miller County hospital which has been in operation since1957.
• Surrounding national retailers include Dollar General, Hardee’s, NAPA Auto Parts, BP, Family Dollar, Shell and others.
• Colquitt is located approximately 90 miles South of Columbus, 44 miles Southwest of Albany, and 57 miles Northwest of Tallahassee, FL.
• Colquitt is the county seat for Miller County and this Walgreens is situated within a five-mile radius of several government buildings.

INVESTMENT GRADE TENANT
• Walgreens Boots Alliance is the largest retail pharmacy, health and daily living destination across the U.S. and Europe with 9,277 stores in all 50 states.
• Walgreens is publicly traded (WBA: NYSE) with a market capitalization in excess of $73 billion.
• Both Walgreen Co. and Walgreens Boots Alliance, Inc. are investment-grade rated each with a Standard & Poors rating of BBB.

Don McMinn
OFFERING MEMORANDUM

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