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30875763
30875764

2060 GA-40, Kingsland, GA 31548

RF
NC 280948
Berkeley Capital Advisors Charlotte
CB
NC 287166
Berkeley Capital Advisors Charlotte
Listed by Berkeley Capital Advisors Charlotte
$3,648,000
86 days on market
Updated 3 days ago

Walgreens

Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 14,809
Cap Rate 6.5%
NOI $237,120
Occupancy 100%
Tenancy Single
Brand/Tenant Walgreens
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 02/28/2039
Remaining Term 12.7
Rent Bumps Yes
Lease Options 12, 5-Year
Price per SqFt $246
Broker Co-Op Yes
Year Built 2008
Buildings 1
Stories 1
Acreage 5.600
Zoning Commercial
Parking Spaces 68 per unit
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 02/22/2024
Ground Lease No

Signalized Corner Intersection | Absolute Net Lease | Large Parcel | Affluent Surrounding Area

Marketing description

Investment highlights

• Great visibility & access from signalized corner intersection | GA Highway 40 East & Kings Bay Rd | 36,000 VPD combined

• New 15-year lease extension | Showing tenant commitment to the site | Leased since 2008

• Absolute Net Lease | Zero landlord responsibilities

• Corporate lease | Walgreen Co. | 8,700+ locations nationwide

• Large parcel | 5.60 acres

• Located inside of dense retail corridor | 1.3 M SF within a 2-mile radius

• Explosive population growth within 1-mile | 128.23% from 2010- 2025

• Affluent surrounding area | $97,624 average household income within a 3-mile radius

• Less than 5 minutes from Southeast Georgia Health System – Camden Campus | 40 beds

• 10 minutes from College of Coastal Georgia – Camden Center | 3,200 students

• Under 10 minutes from Camden County High School | 2,673 students

• Nearby destination retailers | Walmart Supercenter, Lowe’s, Publix, Tractor Supply, Harbor Freight Tools, CVS, McDonald’s, Chick-fil-A, Starbucks, Dunkin, AutoZone

• Approx. 12 minutes from Kings Bay Naval Submarine Base

Listing Contacts

RF
NC 280948
Berkeley Capital Advisors Charlotte
CB
NC 287166
Berkeley Capital Advisors Charlotte
Listed by Berkeley Capital Advisors Charlotte

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$237,120.00
$19,760.00/mo

Valuation Metrics

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DSCR
6.5%
Cap Rate
6.5%
ROI

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