Single Tenant Walgreens
12 Years Remaining | Rare Rental Increases Prime Signalized Corner | Atlanta MSA
Marketing description
Forged Real Estate is pleased to exclusively offer the fee simple interest in a single-tenant Walgreens property located in Griffin, Georgia, the county seat of Spalding County, approximately 35 miles south of downtown Atlanta. The property is leased to Walgreens under a fee simple, triple-net (NNN) lease with approximately 12 years remaining, providing passive, hands-off ownership. The lease provides a 5% rental increase in March 2028 and every five years thereafter—an uncommon feature for Walgreens leases—delivering built‑in income growth.
The property is positioned at the signalized intersection of N. Expressway (US-41) and McIntosh Road, with a combined traffic count of approximately 49,500 vehicles per day. Three points of ingress and egress, excellent visibility, and a drive-thru pharmacy enhance accessibility and consumer convenience. This location ranks in the 72nd percentile of Walgreens stores in Georgia, supported by strong surrounding retail anchors including a top-performing Kroger and Walmart Supercenter.
Located within the Atlanta MSA, the nation’s 8th largest metro area, the property benefits from strong regional demographics and ongoing residential growth, with over 400 new apartment units recently delivered or under development within a three-mile radius. Walgreens is one of the nation’s largest drugstore operators, with approximately 8,000 locations nationwide and a well-established presence in healthcare services.
Investment highlights
LONG-TERM ABSOLUTE NNN LEASE WITH BUILT-IN RENT GROWTH - Walgreens operates under a fee simple, triple-net (NNN) lease with approximately 12 years remaining on the base term, providing a truly passive, hands-off ownership structure. The lease provides a 5% rental increase in March 2028 and every five years thereafter—an uncommon feature for Walgreens leases—delivering built‑in income growth.
PRIME, HIGH-TRAFFIC CORNER LOCATION - The property is strategically positioned at the signalized intersection of N. Expressway (US-41) and McIntosh Road, two major thoroughfares with a combined traffic count of approximately 49,500 vehicles per day (VPD). The site benefits from three points of ingress and egress via N. Expressway (US-41), McIntosh Road, and Beatty Street, ensuring seamless customer access. Exceptional visibility and ease of entry further enhance the property’s prime real estate positioning.
DRIVE-THRU PHARMACY - The property features a convenient drive-thru pharmacy, allowing customers to easily drop off and pick up prescriptions, enhancing accessibility, efficiency, and overall customer experience.
STRONG PLACER.AI PERFORMANCE – WALGREENS & SURROUNDING RETAIL - This Walgreens location ranks in the top 72nd percentile of all Walgreens locations in Georgia, demonstrating strong consumer demand. Surrounding retailers further reinforce the trade area’s strength, with the nearby Kroger ranking in the top 96th percentile in Georgia and top 94th percentile nationally, while the Walmart Supercenter ranks in the top 93rd percentile in Georgia and top 82nd percentile nationwide.
PRIME RETAIL CORRIDOR LOCATION - Walgreens is strategically positioned in the heart of a high-traffic retail corridor along N. Expressway (US-41), surrounded by a dynamic mix of national retailers. Nearby anchors and popular brands include Walmart Supercenter, The Home Depot, Lowe’s Home Improvement, Kroger, ALDI, Hobby Lobby, Burlington, PetSmart, Ross Dress for Less, Marshalls, Tractor Supply Co., AutoZone, Verizon, AT&T, LongHorn Steakhouse, Applebee’s, Chipotle, McDonald’s, Chick-Fil-A, Starbucks, Taco Bell, Wendy’s, KFC, Arby’s, and many more, underscoring the corridor’s strength and consistent consumer draw.
ESTABLISHED COUNTY SEAT IN THE ATLANTA MSA - Walgreens is located in Griffin, Georgia, the county seat of Spalding County, approximately 35 miles south of downtown Atlanta. The property benefits from its position within the Atlanta MSA, the 8th largest metropolitan area in the United States, home to more than 6.3 million residents, providing strong regional demographics and long-term demand drivers.
NEARBY RESIDENTIAL GROWTH - Within a three-mile radius of the property, several new and recently completed developments are strengthening the surrounding community. The Parc at Rosenwald and Parc at Roseview are scheduled for completion in 2026 and will collectively deliver nearly 200 apartment units, while The Carlisle Apartments, completed in 2025, added an additional 225 units, further expanding the local residential base. Within 3-miles: Nearly 200 Apartment Units being.
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