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Absolute NNN Walgreens Atlanta GA (Buckhead)

3658 Roswell Road Northwest, Atlanta, GA, USA Map

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Prime, High-Traffic Drugstore with Drive-thru in Affluent, Uptown Buckhead Business District | Strong Reported Sales

Listing Price $12,125,000

Status Active
Lease Type Absolute Net
Property Type Retail
CAP Rate 5.43%
GLA (Sq. Ft.) 12,982
NOI $658,000
Lease Term Remaining 10 Years
Options Ten (10), 5-Year Options
State (BOR) GA
Broker of Record John Leonard
License # (BOR) 252904

Investment Highlights

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  • Subject is a Trophy 12,982 Square-Foot Build-to-Suit Walgreens Drugstore on a Highly Visible 1.64-Acre Hard Corner Lot with Exceptional Ingress/Egress, Drive-Thru and Ample Parking, Built 2007
  • Extremely Strong Location Fundamentals for Prime Infill, Features Absolute NNN Lease with Zero Landlord Responsibilities and Five, Ten-Year Options | Strong Reported Sales, Would Rank Among Top in the Nation In Terms of Reported Sales per Square Foot
  • Investment-Grade Credit Tenant Walgreens Boots Alliance (NASDAQ: WBA) has a Long-Term Credit Rating of Baa2 (Stable) from Moody’s and Investment Grade Rating of BBB (Stable) from S&P
  • Strategic Location at Powerful Intersection of Three Major Arterial Thoroughfares with Combined ADT of 73,000 Vehicles per Day | Situated on Roswell Road Northeast (27,921 VPD),  Blackland Road Northwest (7,373 VPD), and Piedmont Road Northeast (37,601 VPD) (Source: CoStar 2020 Estimates)
  • Well Established Retail Corridor | Nearby National Tenants Include: Adidas, Capital Grille, Chanel, Christian Louboutin, Dior, Gucci, HomeGoods, Jimmy Choo, Panera Bread, Petco, Trader Joe’s, Saks Fifth Avenue, Starbucks, Versace, Whole Foods and Many More
  • Subject is Located in a Affluent Suburban Community | Over 289,300 Residents Live in Approximately 140,500 Households with an Average Household Income of $157,100 within Five Miles of the Subject Asset, as of 2021 Estimates
  • Location, Location, Location: This Asset Offers Everything An Investor May Want from a Long Term Triple Net, Income Stream from Investment Grade Tenant, Rare Infill Real Estate in Highly Desirable Zip Code, Future Potential Upside in Growing Surrounding Area Rents Over Time (Flat Rent for Entire Lease), Very Strong Retailer Sales
  • Buckhead is Well Known for Upscale Malls, Art Galleries, and Home to Old and New Money, the Area is Atlanta’s Most Affluent Neighborhood, The Robb Report Names it One of the Top Ten Affluent Neigborhoods | Greater Buckhead is Among the City’s Strongest Real Estate Markets
  • Subject is 20 Miles (40 Minutes) from Hartsfield-Jackson Atlanta International Airport, Serving Over 110 Million Passengers in 2019 | The Airport Supports Nearly 400,000 Jobs and  Contributes Over $52 Billion Dollars of Direct Economic Benefits to the Atlanta Metro Annually
  • Five Miles North of Subject Asset is Northside Hospital Atlanta, a 621-Bed Critical Access Flagship Hospital with Emergency Services | It Employs 3,000 Physicians and 28,796 Staff that See Over Five Million Patients Annually
  • The Greater Atlanta Region is Emerging as a Major Electric Vehicle Manufacturing Hub, Which Will Boost Industrial Demand and Job Growth in the Coming Years
  • Over 25 Premier Hotel Lodging and Luxury Apartments are Located Within Two Miles of Subject Asset, Serving an Estimated 57 Million Visitors Annually that Generate a Booming $16 Billion Dollar Hospitality Industry

Investment Overview

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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2020 Marcus & Millichap and Limon Net Lease Group

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