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1602 N Expressway 14,515 SF Retail Building Griffin, GA 30223 $4,124,409 ($284.15/SF) 6.35% Cap Rate
EXECUTIVE SUMMARY
solicit offers for the sale of Walgreens located at 1602 North
Expressway in Griffin, Georgia. The offering is 14,515 SF and
sits atop 1.94 acres at the signalized intersection of North
Expressway (US-41) and McIntosh Road, collectively seeing
over 44,100 VPD. The subject property is located just two
miles from downtown Griffin, the suburban community
approximately forty miles south of Atlanta.
Walgreens executed a long-term Abs NNN lease with rent
commencing in January 2023. The 15-year lease provides
just under 13 years of term remaining with Twelve (12), Five
(5) Year Options thereafter. Walgreens is currently paying
$261,900 with 5% rent increases every 5 years and at the
start of each option. The lease is corporately guaranteed and
calls for no landlord responsibilities, providing an investor
surety of cash flow and a passive investment.
PROPERTY FACTS
AMENITIES
- Drive Thru
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
-
- Retailer
- -
- -
- -
Walgreens, founded by Charles Rudolph Walgreen in 1901 in Chicago, is a major U.S. pharmacy and retail chain operating under the publicly traded parent, Walgreens Boots Alliance (NASDAQ: WBA). Headquartered in Deerfield, Illinois, it provides prescription services, health and wellness products, photo services, and expanded healthcare offerings including immunizations and diagnostic screenings. As of late 2025, the company operated thousands of retail locations across the United States and Puerto Rico, serving roughly 78% of Americans within five miles of a store. Walgreens maintains omnichannel operations—blending in-store, online, drive-thru, and home delivery services—and has strategic healthcare partnerships, notably with VillageMD. Under the direction of new CEO Mike Motz, following the August 2025 purchase by Sycamore Partners, Walgreens continues to emphasize core pharmacy execution, digital innovation, and integrated care solutions.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
|
|
Retailer | - | - | - |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 068-04-001 | Improvements Assessment | $942,083 |
| Land Assessment | $537,917 | Total Assessment | $1,480,000 |
PROPERTY TAXES
CONTACTS
-
David Hoppe -
Eric Suffoletto -
Danny Griffin -
Ben Olmstead -
Atlantic Capital Partners
Presented by
1602 N Expressway
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