Griffin, GA Walgreens For Sale

1602 N Expy, Griffin, GA 30223

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For Sale

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Single-tenant Walgreens with 12 years remaining on NNN lease.

Type:Retail

Property size:

14,515 SF

Price / SF:

$284/SF

HighLights

Triple‑net (NNN) lease with approximately 12 years remaining offers passive, hands‑off ownership and a stable income stream.
5% rental increase every five years starting in 2028 provides built‑in income growth.
High‑traffic location at a signalized intersection of N. Expressway (US‑41) and McIntosh Road with approximately 49,500 vehicles per day.
Strong Walgreens store performance ranks in the 72nd percentile of Walgreens stores in Georgia.
Located within the Atlanta MSA benefiting from strong regional demographics and ongoing residential growth.
Excellent accessibility and visibility with three points of ingress/egress and a drive‑thru pharmacy.

We can help!

Listing Contact

Marc Mandel

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For Sale

Contact for pricing

Single-tenant Walgreens with 12 years remaining on NNN lease.

Type:Retail

Property size:

14,515 SF

Price / SF:

$284/SF

Added:: Feb 23, 2026
Days on Market:: 109
Last Refresh:: Mar 17 at 1:16 pm

Property Features for 1602 N Expy

General Information

Standard status: Active
Size: 14,515 SF
Property subtype: Retail

Building Details

Year Built: 2010

We can help!

Listing Contact

Marc Mandel

Listing agent Marc Mandel License #NJ

Listing office Forged Real Estate

Listing date Feb 23, 2026

Source Crexi

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of Forged Real Estate

HighLights

Triple‑net (NNN) lease with approximately 12 years remaining offers passive, hands‑off ownership and a stable income stream.
5% rental increase every five years starting in 2028 provides built‑in income growth.
High‑traffic location at a signalized intersection of N. Expressway (US‑41) and McIntosh Road with approximately 49,500 vehicles per day.
Strong Walgreens store performance ranks in the 72nd percentile of Walgreens stores in Georgia.
Located within the Atlanta MSA benefiting from strong regional demographics and ongoing residential growth.
Excellent accessibility and visibility with three points of ingress/egress and a drive‑thru pharmacy.

Overview

This single-tenant Walgreens property is located in Griffin, Georgia, approximately 35 miles south of downtown Atlanta. The property is under a fee simple, triple-net (NNN) lease with approximately 12 years remaining. The lease includes a 5% rental increase in March 2028 and every five years thereafter. The property is positioned at the intersection of N. Expressway (US-41) and McIntosh Road, with a combined traffic count of approximately 49,500 vehicles per day. It features three points of ingress and egress, visibility, and a drive-thru pharmacy. This location ranks in the 72nd percentile of Walgreens stores in Georgia and is supported by retail anchors including a Kroger and Walmart Supercenter. Located within the Atlanta MSA, the property benefits from regional demographics and residential growth, with over 400 new apartment units recently delivered or under development within a three-mile radius. The property size is 14,515 square feet. Walgreens is a drugstore operator, with approximately 8,000 locations nationwide and a presence in healthcare services.

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$334.4k	$23.04
− Vacancy	−$23.4k	−$1.61
EGI	$311.0k	$21.43
− OpEx	−$77.8k	−$5.36
NOI	$233.3k	$16.07

14,515 SF · lease $23.04/SF/yr · vacancy 7.00% · expense 25.00%

Alternative Uses

Best Use

Specialty Retail

$3.33M

$2.92M – $3.89M (±1% cap)

NOI $233,262 @ 7.0% cap · market cap 5.66%

Second Best

Retail

$2.92M

$2.55M – $3.40M (±1% cap)

NOI $204,159 @ 7.0% cap · market cap 4.95%

Theoretical Best

Office A

$4.08M

$3.57M – $4.76M (±1% cap)

NOI $285,307 @ 7.0% cap · market cap 6.92%

Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Current Use by Public Records

Walgreens Pharmacy Walgreens Pharmacy Pharmacy Walgreens Photo (Bike/Boat/Book/etc) Store Western Union Bank FedEx OnSite Postal Service

Suggested Use

Similar Places Nearby

Christopher Wilson, PharmD — 1378 Experiment St, Griffin, GA 30223
GNC — 1424 N Expy, Griffin, GA 30223
Walmart Pharmacy — 1569 N Expy, Griffin, GA 30223
Phillip Smith — 1569 N Expy, Griffin, GA 302231746
Sara Khajehei — 1569 N Expy, Griffin, GA 302231746

Location Insight

Map
Local Demand

City: Griffin
County: Spalding
State: Georgia
Longitude: -84.290123
Latitude: 33.274806

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For sale
Drug stores
GA
Griffin
30223
1602 N Expy

What type of property is this?

Drug store - Single-tenant Walgreens with 12 years remaining on NNN lease.

Where is this drug store located?

The property is located at 1602 N Expy Griffin, GA.

What is the asking price?

The asking price for this property is $4,124,000.

What are key features of this property?

This property features: Triple‑net (NNN) lease with approximately 12 years remaining offers passive, hands‑off ownership and a stable income stream.; 5% rental increase every five years starting in 2028 provides built‑in income growth.; High‑traffic location at a signalized intersection of N. Expressway (US‑41) and McIntosh Road with approximately 49,500 vehicles per day.

1602 N Expy, Griffin, GA 30223

Single-tenant Walgreens with 12 years remaining on NNN lease.

Property Features for 1602 N Expy

General Information

Building Details

We can help!

HighLights

Overview

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Similar Places Nearby

Location Insight

Nearby Similar for Sale

Griffin Restaurant on Highway 19/41

Griffin Commercial Building on 2.4 Acres

Griffin Commercial Property For Sale

Griffin Commercial Property with Parking

Griffin Commercial Building For Sale

Griffin Office Building with Lot

Griffin Office Building For Sale

Corner Lot Commercial Building

Restaurant Property with Multiple Entrances

Turn-Key Restaurant in Historic Building

Griffin Church with Lease Income

Griffin Commercial Opportunity For Sale

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