Listed by Matthews
$3,563,000
Walgreens - Cumming, GA (Atlanta MSA)
Details
Property Type Retail
Sub Type Convenience Store, Pharmacy/Drug
Square Footage 14,490
Cap Rate 8.7%
NOI $310,000
Occupancy 100%
Tenancy Single
Brand/Tenant Walgreens
Lease Type Absolute NNN
Lease Term 25.1
Lease Expiration 02/01/2030
Remaining Term 3.5
Lease Options Ten, 5-Year
Price per SqFt $246
Class A
Year Built 2005
Buildings 1
Stories 1
Acreage 1.710
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 01/15/2005
Occupancy Date 01/15/2005
Ground Lease No
Absolute NNN | Below Market Rent | Buford Hwy 40,000 VPD
Marketing description
Walgreens at 1650 Buford Hwy, Cumming, GA 30041 presents a compelling net-lease investment opportunity in one of metro Atlanta’s fastest-growing and most affluent suburban markets. This ±14,490 SF freestanding pharmacy sits on a dominant hard-corner site with a drive-thru, directly along Buford Highway, a major retail corridor carrying approximately 40,000 vehicles per day.
Positioned across from a Publix-anchored shopping center and surrounded by national retailers including QuikTrip, McDonald’s, Taco Bell, PNC Bank, and Advance Auto Parts, the property benefits from exceptional visibility, daily-needs traffic, and strong long-term real estate fundamentals. The location is also supported by healthcare-driven demand, with Northside Hospital Forsyth and multiple medical providers nearby.
The asset is leased to Walgreens on an absolute NNN basis, offering passive ownership with no landlord responsibilities. With rent reported below market, the property offers attractive upside potential. The surrounding trade area features impressive demographics, including 47,120 residents within 3 miles, 123,784 within 5 miles, and average household incomes above $160,000.
This is a rare opportunity to acquire a well-located, necessity-based retail asset backed by a nationally recognized pharmacy tenant.
Investment highlights
- Absolute NNN Lease: ±14,490 SF freestanding building with drive-thru pharmacy on an absolute NNN lease, providing a passive, management-free investment.
- High-Traffic Retail Corridor: Located along Buford Hwy (GA-20) with ±40,000 VPD, the primary east–west retail and commuter artery in Forsyth County, offering strong visibility and consistent traffic. Positioned directly across from a Publix-anchored shopping center, driving high-frequency, daily-needs traffic that supports long-term site performance.
- Healthcare-Driven Demand: Located approximately 3.5 miles from Northside Hospital Forsyth (300+ beds), with additional clinics and urgent care providers within a 1–2 mile radius, supporting a strong customer base with consistent prescription volume.
- Below Market Rent: Walgreens’ rent of ~$21.39 PSF is ~22% below subject market rents ($27.35 PSF), supporting strong real estate fundamentals.
- Limited Competition: No other Walgreens within 6.8 miles, providing strong market separation, with CVS (~1.0 mile) as the only nearby national competitor.
- Dominant Hard Corner Location: Positioned at a signalized intersection surrounded by national tenants including QuikTrip, McDonald’s, Taco Bell, Tropical Smoothie Café, Advance Auto Parts, and PNC Bank.
- Grocery-Anchored Retail Node: Directly across from a Publix-anchored center, generating high-frequency, daily-needs traffic that supports long-term site performance.
- Top-Tier Atlanta Demographics: 47,120 residents within 3 miles and 123,784 within 5 miles, with average household incomes exceeding $160,000, among the strongest in the Atlanta MSA.
Listing Contacts
Listed by Matthews
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$310,000.00
$25,833.33/mo
Valuation Metrics
0
DSCR
8.7%
Cap Rate
8.7%
ROI
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