2425 Slappey Blvd Albany, GA 31701-1009
Property profile & analytics
2425 Slappey Blvd Albany, GA 31701-1009
- Drug stores
- 11,200 SF
- 1.77 lot acres
Property ID
US22-3365870
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Aderonke A. Omotoso, B / Pharmacy
- FedEx OnSite / Postal Service / Courier Service
- Western Union / Bank / Credit Union
- higi / Physician
- Walgreens / Pharmacy
Property Details for 2425 Slappey Blvd
- Year built
- 1999
- Construction
- STEEL FRAME
- Lot size
- 1.77 lot acres
- Property size
- 11,200 SF
- Zone code
- C2
- Property type
- Drug stores
- APN
- 0000N/00003/22A
- APU
- 0000N0000322A
Description
This exceptional investment opportunity presents a 10,908-square-foot Walgreens located at 2425 N Slappey Blvd, Albany, GA 31701. The property boasts a 7.75% cap rate and a strong NOI of $168,493, supported by a credit-rated tenant with a long operational history at this location since 1999. The current lease, assumed by Walgreens in 2018 from Rite Aid, expires July 31, 2024, but includes three 5-year renewal options with a 10% rent increase in each. The building, constructed in 1999, sits on a 1.77-acre lot and features a convenient drive-thru pharmacy. Its prime location at the signalized intersection of North Slappey Blvd and Palmyra Rd (32,000 vehicles per day) benefits from high visibility and traffic. The surrounding area is densely populated, with 75,833 residents within a five-mile radius, boasting an average household income of $63,173. Proximity to Phoebe North Campus Hospital (124 beds) and other strong retail neighbors, including Food Lion and Walmart, further enhances the property's value and appeal. This is a rare opportunity to acquire a well-performing, net-leased Walgreens with significant upside potential. The asking price is $2,174,103, representing a price per square foot of $199.31. The property's strong tenant, location, and lease terms make it an attractive addition to any investment portfolio.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $1,585,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,405,000
- 6.5%
- $1,295,000
- 7%
- $1,205,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $782,000
- AI Estimate
- $1,222,000
Market price range: $286k - $783kMarket price range: $359k - $1.22M -
Alternative Use
- Use
- Estimation
- MEDICAL BUILDING
- $1,030,000
- COMMERCIAL (GENERAL)
- $1,015,000
- AUTO REPAIR, GARAGE
- $875,000
- NEIGHBORHOOD: SHOPPING CENTER
- $875,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Albany
- County
- Dougherty
- State
- Georgia
- Longitude
- -84.1766
- Latitude
- 31.6106
- CBSA code
- 10500
- CBSA name
- ALBANY, GA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$23,140
$106,000
$390,680
$496,680
-
$265,000
$976,700
$1,241,700
