Walgreens NNN Retail
For Sale
Contact for pricing
668 Main St, Thomson, GA 30824
Freestanding single-tenant retail asset leased under an absolute NNN structure with Walgreens.
Property Size14,472 SF
Lot Size1.63 Acres
Price / SF$276.40
Days on Market138
Property Features for 668 Main St
General Information
Standard status
Active
Size
14,472 SF
Total Parking Spaces
59
Lot size
1.63 Acres
Property subtype
Retail
Zoning
B-1
Lease Type
Absolute Net
Net Operating Income
$308,500
Financials
Asking Price
$4,000,000
Cap Rate
7.71%
Building Details
Year Built
2008
Buildings
1
Tenancy
Single
Listing Agency:
Compass Florida LLC
Listed By:
Matthew Cronin · License #3437781
Source:
Crexi
Added: Apr 16
Changed: Aug 30
Last Checked: Aug 30 at 11:54PM
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 Compass Florida LLC
Investment Insights
Based on property information with market context.
This freestanding Walgreens retail property at 668 Main St, Thomson, GA 30824, contains 14,472 SF and was built in 2008. The single-tenant building sits on 1.63 acres with 59 parking spaces and is zoned B-1. The absolute NNN lease assigns responsibility for taxes, insurance, roof, and structure to the tenant.
The primary lease term has approximately 7 years remaining through 09/30/2033, followed by 10 additional five-year renewal options. Walgreens is identified as the corporate-backed tenant, and the property carries a 7.71% cap rate. The site is positioned along Main Street in Thomson, within McDuffie County and the Augusta-Richmond County MSA, near Dollar General, Dollar Tree, CVS, and AutoZone.
The primary lease term has approximately 7 years remaining through 09/30/2033, followed by 10 additional five-year renewal options. Walgreens is identified as the corporate-backed tenant, and the property carries a 7.71% cap rate. The site is positioned along Main Street in Thomson, within McDuffie County and the Augusta-Richmond County MSA, near Dollar General, Dollar Tree, CVS, and AutoZone.
Key Highlights
- Walgreens single‑tenant retail property at 668 Main St, Thomson, GA 30824
- 14,472 SF freestanding building constructed in 2008
- 1.63‑acre site with 59 parking spaces
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
$170,036
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
4.25%
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%
$3,400,720
$3.4M
Cap Rate 7%
$2,429,086
$2.4M
Cap Rate 9%
$1,889,289
$1.9M
Market Conditions
NOI Build-Up for 14,472 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
$239.7K $16.56/SF
− Vacancy
−$12.9K −$0.89/SF
EGI
$226.7K $15.67/SF
− OpEx
−$56.7K −$3.92/SF
NOI
$170.0K $11.75/SF
Area
McDuffie County, GA
Vacancy
5.40%
Lease Rate
$16.56 /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%
$3,400,720
Cap Rate 7%
$2,429,086
Cap Rate 9%
$1,889,289
Alternative Uses
Best Use
Specialty Retail
$2.43M
$2.13M – $2.83M
NOI $170,036 @ 7.0% cap · market cap 4.25%
Second Best
Retail
$2.30M
$2.02M – $2.69M
NOI $161,217 @ 7.0% cap · market cap 4.03%
Theoretical Best
Office A
$4.57M
$4.00M – $5.33M
NOI $319,756 @ 7.0% cap · market cap 7.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
249
Businesses Nearby
Explore this area
Business Placement
Demographics for 30824, GA
16,832
Population
7,548
Households
2.2
Avg Household Size
42
Median Age
20%
College-Educated
87%
High-School Grad
191.7 sq mi
ZIP Area
88
Density / Sq Mi
$54,214
Median Household Income
$35,804
Median Earnings
$810
Median Rent
$158,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Freestanding single-tenant retail asset leased under an absolute NNN structure with Walgreens.
Where is this nnn property located?
The property is located at 668 Main St Thomson, GA.
What is the asking price?
The asking price for this property is $4,000,000.
What are key features of this property?
This property features: Walgreens single‑tenant retail property at 668 Main St, Thomson, GA 30824; 14,472 SF freestanding building constructed in 2008; 1.63‑acre site with 59 parking spaces
