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    405 Hill St Griffin, GA 30224

    For Sale
    $2,403,616

    Net-lease Walgreens, strong tenant, high ROI.

    Property size:
    11,220 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional investment opportunity presents a single-tenant, 11,220-square-foot Walgreens located at 405 S Hill St, Griffin, GA 30224, within the Atlanta MSA. The property, built in 1996 and extensively renovated in 2017, boasts a Class B rating and a 100% occupancy rate. The current Net Lease (NN) agreement with Walgreens Boots Alliance (WBA), a publicly traded company, features a corporate guarantee and expires October 1, 2027, offering approximately 2.9 years of remaining lease term. The lease includes five, five-year renewal options, with a significant 20% rent increase at the next option and subsequent 7% increases. The current Net Operating Income (NOI) is $135,804, yielding a 5.65% cap rate at the asking price of $2,403,616 ($214.23/sq ft). The property benefits from a prime location, with minimal competition and proximity to other major national retailers including Ace Hardware, Lowe's, Kroger, and more. Wellstar Spalding Regional Medical Center and Southern Crescent Technical College are also nearby, contributing to a strong customer base. The landlord is responsible only for roof and structure maintenance

    Property Features for 405 Hill St

    General Information

    Property type
    Individual retail properties
    Square Feet
    11,220 SF
    Class
    B

    Building Details

    Year Built/Renovated
    1996/2017
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • 20% rental increase opportunity in 3 years; Walgreens seeking 10‑year extension.
    • Walgreens investment at a low price point.
    • Excellent location adjacent to Ace Hardware and near other national retailers (Lowe's, Kroger, etc.).
    • Corporate guarantee by Walgreens Boots Alliance (WBA), BBB- credit rating.
    • 10‑year lease extension signed in 2017.
    • 20% rental increase potential in 2027.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    higi Health Consultant Walgreens Photo Passport Photo Processor FedEx OnSite Mailing Service Western Union Money Transfer Service BB&T ATM Atm

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Griffin
    County
    Spalding
    State
    Georgia
    Longitude
    -84.264454094578
    Latitude
    33.244417679743

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    FAQs

    What type of property is this?
    Individual retail property - Net-lease Walgreens, strong tenant, high ROI.
    Where is this individual retail property located?
    The property is located at 405 Hill St Griffin, GA.
    What is the asking price?
    The asking price for this property is $2,403,616.
    What are key features of this property?
    This property features: 20% rental increase opportunity in 3 years; Walgreens seeking 10-year extension.; Walgreens investment at a low price point.; Excellent location adjacent to Ace Hardware and near other national retailers (Lowe's, Kroger, etc.).
    Request Owner's contact information
    405 Hill St Griffin, GA 30224
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    Realmo Value Estimation

    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.

    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.

    Alternative use

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

    More about this property
    405 Hill St Griffin, GA 30224
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