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    Net Leased Walgreens in Homerville Title is generated by Realmo AI

    191 N Church St, Homerville, GA 31634

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    Single tenant Walgreens with lease extended through 2029.

    Type:Retail
    Property size:
    11,243 SF
    Price / SF:
    $114/SF
    Added:
    Feb 24, 2026
    Days on Market:
    77
    Last Refresh:
    Mar 17 at 1:17 pm

    Property Features for 191 N Church St

    General Information

    Standard status
    Active
    Size
    11,243 SF
    Property subtype
    Retail

    Building Details

    Year Built
    1995

    We can help!

    Listing Contact
    Brian Brockman
    Brian Brockman

    Listing agent Brian Brockman License #BRK.200900214

    Listing office Bang Realty

    Listing date Feb 24, 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 Bang Realty

    HighLights

    • Single tenant net leased Walgreens property with lease extended through 2029.
    • Low absolute rent of $113,000 annually ($10.05 PSF).
    • Located along North Church Street, a primary corridor in Homerville, GA.
    • Limited pharmacy competition with the nearest CVS Pharmacy located approximately 30 miles away.
    • Lease includes four additional five‑year renewal options with scheduled rental escalations.
    • Located near Clinch County High School and Clinch Memorial Hospital.

    Overview

    The property is a single tenant net leased Walgreens located in Homerville, Georgia. The property has functioned as a pharmacy since 1995, with Walgreens assuming the lease from Rite Aid in 2017. Walgreens has extended its lease through 2029, with a low absolute rent of $113,000 annually, which translates to $10.05 per square foot. The lease also incorporates four additional five-year renewal options that include scheduled rental escalations. The building has 11,243 square feet of space and is situated along North Church Street, a primary corridor running through the center of Homerville. The property benefits from limited pharmacy competition in the area, with the nearest CVS Pharmacy approximately 30 miles to the east. Several nationally recognized retailers serve the surrounding trade area, including Piggly Wiggly, DG Market, True Value, NAPA Auto Parts, Huddle House, Dairy Queen, and Subway. Additional traffic drivers along the corridor include Clinch County High School and Clinch Memorial Hospital. As of 2026, Walgreens is the second-largest pharmacy chain with approximately 8,100 stores nationwide, offering prescription services, health and wellness products, photo services, and everyday essentials.
    Location Intelligence

    Current Use by Public Records

    Walgreens Pharmacy Walgreens Pharmacy Pharmacy FedEx OnSite Postal Service Mary G. Lankford, ... Pharmacy Western Union Bank

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center

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

    Similar Places Nearby

    • Walgreens Pharmacy — 191 N Church St, Homerville, GA 31634
    • Mary G. Lankford, PharmD — 191 N Church St, Homerville, GA 31634
    • Acme Pharmacy — 18 E Dame Ave, Homerville, GA 31634
    • Ramey Youngblood — 191 N Church St, Homerville, GA 316342449
    • Pratyusha Patel — RITEAID PHARMACY, 191 N Church St, Homerville, GA 31634

    Location Insight

    • Map
    • Local Demand
    City
    Homerville
    County
    Clinch
    State
    Georgia
    Longitude
    -82.749377
    Latitude
    31.040181

    FAQs

    What type of property is this?
    Drug store - Single tenant Walgreens with lease extended through 2029.
    Where is this drug store located?
    The property is located at 191 N Church St Homerville, GA.
    What is the asking price?
    The asking price for this property is $1,291,428.
    What are key features of this property?
    This property features: Single tenant net leased Walgreens property with lease extended through 2029.; Low absolute rent of $113,000 annually ($10.05 PSF).; Located along North Church Street, a primary corridor in Homerville, GA.
    (888) 737-2264 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Brian Brockman
    Brian Brockman
    Real Estate License ID: BRK.200900214
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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