Freestanding Walgreens Pharmacy
1650 Buford Hwy Cumming, GA 30041
1650 Buford Hwy, Cumming, GA, 30041
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For Sale
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Freestanding pharmacy with a drive-thru, leased to Walgreens on an absolute NNN basis.
Property Size14,490 SF
Price / SF$245.89
Days on Market117
Property Features for 1650 Buford Hwy
General Information
- Standard status
- Active
- Size
- 14,490 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2005
Listing agency
Matthews
Listed by
Patrick Forkin · License #475118789
Source
Crexi
Added: Mar 27 Updated: Jul 21 at 1:35AM Checked: Jul 21 at 9:16AM
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 Matthews
Investment Insights
Based on property information with market context.
This freestanding Walgreens pharmacy includes a drive-thru and is leased to Walgreens on an absolute NNN basis, providing passive ownership with no landlord responsibilities. The property is offered as a net-lease investment.
The asset is located on a hard-corner site along Buford Highway in Cumming, GA, a major retail corridor reported at approximately 40,000 vehicles per day. It sits directly across from a Publix-anchored shopping center and is surrounded by national and regional retailers including QuikTrip, McDonald’s, Taco Bell, PNC Bank, and Advance Auto Parts.
Healthcare-driven demand is also supported by nearby medical providers and Northside Hospital Forsyth. The property’s reported lease terms include rent below market.
The asset is located on a hard-corner site along Buford Highway in Cumming, GA, a major retail corridor reported at approximately 40,000 vehicles per day. It sits directly across from a Publix-anchored shopping center and is surrounded by national and regional retailers including QuikTrip, McDonald’s, Taco Bell, PNC Bank, and Advance Auto Parts.
Healthcare-driven demand is also supported by nearby medical providers and Northside Hospital Forsyth. The property’s reported lease terms include rent below market.
Key Highlights
- Freestanding Walgreens pharmacy built in 2005 with a drive‑thru on a hard‑corner site along Buford Hwy in Cumming, GA.
- 14,490 SF freestanding pharmacy leased to Walgreens on an absolute NNN basis (reported no landlord responsibilities).
- Hard‑corner retail frontage along Buford Highway with approximately 40,000 vehicles per day per the listing remarks.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $333.8k | $23.04 |
| − Vacancy | −$23.4k | −$1.61 |
| EGI | $310.5k | $21.43 |
| − OpEx | −$77.6k | −$5.36 |
| NOI | $232.9k | $16.07 |
14,490 SF · lease $23.04/SF/yr · vacancy 7.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$3.33M
$2.91M – $3.88M
NOI $232,860 @ 7.0% cap · market cap 6.54%
Second Best
Retail
$2.91M
$2.55M – $3.40M
NOI $203,807 @ 7.0% cap · market cap 5.72%
Theoretical Best
Office A
$4.05M
$3.54M – $4.73M
NOI $283,536 @ 7.0% cap · market cap 7.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Walgreens Photo
(Bike/Boat/Book/etc) Store
Walgreens Pharmacy
Pharmacy
Redbox
Cinema
Western Union
Bank
FedEx OnSite
Postal Service
Similar For Sale Nearby
Similar Off Market Nearby
- Walgreens Pharmacy — 1650 Buford Hwy, Cumming, GA 30041
- Waxing the City (Cumming, GA - East) — 1735 Buford Hwy #210, Cumming, GA 30041
- Jennifer L. Dawson, PharmD — 1650 Buford Hwy, Cumming, GA 30041
- Nicholas Fosu — 1650 Buford Hwy, Cumming, GA 300416585
- COVID-19 Drive-Thru Testing at Walgreens — 1650 Buford Hwy, Cumming, GA 30041
FAQs
What type of property is this?
Drug store - Freestanding pharmacy with a drive-thru, leased to Walgreens on an absolute NNN basis.
Where is this drug store located?
The property is located at 1650 Buford Hwy Cumming, GA.
What is the asking price?
The asking price for this property is $3,563,000.
What are key features of this property?
This property features: Freestanding Walgreens pharmacy built in 2005 with a drive‑thru on a hard‑corner site along Buford Hwy in Cumming, GA.; 14,490 SF freestanding pharmacy leased to Walgreens on an absolute NNN basis (reported no landlord responsibilities).; Hard‑corner retail frontage along Buford Highway with approximately 40,000 vehicles per day per the listing remarks.
