Freestanding Walgreens Pharmacy
For Sale
Contact for pricing
1650 Buford Hwy, Cumming, GA 30041
Freestanding pharmacy with a drive-thru, leased to Walgreens on an absolute NNN basis.
Property Size14,490 SF
Price / SF$245.89
Days on Market163
Property Features for 1650 Buford Hwy
General Information
Standard status
Active
Size
14,490 SF
Class
A
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$310,000
Additional Details
Traffic Count
40,000 vehicles/day
Building Details
Year Built
2005
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Matthews
Listed By:
Grant Klepadlo · License #475.216011
(773) 598-8642
Source:
Crexi
Added: Mar 27
Changed: Aug 25
Last Checked: Sep 4 at 1:11PM
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.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$232,860
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.54%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,657,200
$4.7M
Cap Rate 7%
$3,326,571
$3.3M
Cap Rate 9%
$2,587,333
$2.6M
Market Conditions
NOI Build-Up for 14,490 SF
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.
Gross rent
$333.8K $23.04/SF
− Vacancy
−$23.4K −$1.61/SF
EGI
$310.5K $21.43/SF
− OpEx
−$77.6K −$5.36/SF
NOI
$232.9K $16.07/SF
Area
Forsyth County, GA
Vacancy
7.00%
Lease Rate
$23.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,657,200
Cap Rate 7%
$3,326,571
Cap Rate 9%
$2,587,333
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 authorities.
Property Analytics
Property Profile
Current Use
Lease Details
40,000 VPD
Traffic count
Location Intelligence
Trade Area within ½ mile
284
Businesses Nearby
157k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 50%
Groceries 30%
Dining 20%
QuikTrip
Shops & Services
39,981 visits/mo
0.1 miles
Publix
Groceries
28,371 visits/mo
0.2 miles
Aldi
Groceries
19,071 visits/mo
0.1 miles
McDonald's
Dining
16,382 visits/mo
0.2 miles
Beaver Toyota Of Cumming
Shops & Services
11,822 visits/mo
0.3 miles
Demographics for 30041, GA
72,489
Population
27,027
Households
2.7
Avg Household Size
40
Median Age
60%
College-Educated
95%
High-School Grad
59.7 sq mi
ZIP Area
1,214
Density / Sq Mi
$141,825
Median Household Income
$69,096
Median Earnings
$1,862
Median Rent
$522,900
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Walgreens Pharmacy — 1650 Buford Hwy, Cumming, GA 30041
- Jennifer L. Dawson, PharmD — 1650 Buford Hwy, Cumming, GA 30041
- COVID-19 Drive-Thru Testing at Walgreens — 1650 Buford Hwy, Cumming, GA 30041
- Nicholas Fosu — 1650 Buford Hwy, Cumming, GA 300416585
- Waxing the City (Cumming, GA - East) — 1735 Buford Hwy #210, Cumming, GA 30041
Frequently Asked Questions
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.
