STREAM Capital Partners > Properties > All Properties > Walgreens

Walgreens

Net Lease

115 Vernon Street, LaGrange, Georgia
Ownership Type:
Fee Simple
Price:
$3,542,608
Cap Rate:
5.75%
Current Rent:
$203,700
Tenancy:
Single Tenant
Lease Type:
See OM
Lease Term:
15 years
Landlord Responsibilities:
None
Renewal Options:
12, 5 year options
Building Sq. Ft.:
14,379 SF
Rent Increases:
5% every 5 years including options
Site Size:
1.47 Acres

Investment Highlights

  • COMMITMENT: 15 year absolute NNN lease structure with zero landlord responsibilities to allow for passive ownership.
  • RENT GROWTH: The leases call for 5% rental increases every five years to provide a strong hedge against inflation.
  • LOCATION: Situated near the signalized intersection of Lafayette Pkwy and US Hwy 27 which has a combined traffic count of 34,000 VPD.
  • PROFITABLE STORE: Strong performing store with $2.9 million in sales volume.
  • INVESTMENT GRADE CREDIT: Walgreens is rated BBB by S&P providing long term security.
  • LARGE ACADEMIC PRESENCE: LaGrange High School and Franklin Forest Elementary School, both located within a One- Mile Radius ~ combined enrollment of over 1,900 students.
Ownership Type:
Fee Simple
Price:
$3,542,608
Cap Rate:
5.75%
Current Rent:
$203,700
Lease Type:
See OM
Lease Term:
15 years
Landlord Responsibilities:
None
Renewal Options:
12, 5 year options
Building Sq. Ft.:
14,379 SF
Rent Increases:
5% every 5 years including options
Site Size:
1.47 Acres

Listing Agents

Connor Shell

Managing Director
407.913.9009[email protected]

Jordan Shtulman

Managing Principal
847.226.4133[email protected]

Broker of Record: Dean Copans, GA – #430314

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