3188 Hwy 278 Covington, GA 30014

This exceptional investment opportunity presents a single-tenant, 14,820 square-foot Walgreens pharmacy located at 3188 Hwy 278 NE, Covington, GA 30014, within the Atlanta MSA. The property boasts a strong 6.00% cap rate, generating a net operating income (NOI) of $498,000. Secured by a corporate guarantee from Walgreens (NASDAQ: WBA), this absolute NNN lease offers significant security and stability, with 12.9 years remaining until expiration (lease expires 09/23/2037, commencing 09/24/2012). The property sits on a 1.8-acre lot and features a newer "Well Experience" store design, including a convenient drive-thru. The building enjoys high visibility and accessibility along Hwy 278, experiencing approximately 32,400 vehicles per day. Its strategic location is less than a mile from Piedmont Newton Hospital and is surrounded by other national brand retailers. The asking price is $8,300,000, translating to a price per square foot of $560.05. The lease includes options for 50-year and 1-year extensions. This property offers a compelling combination of a strong tenant, a desirable location, and a secure, long-term lease, making it an ideal addition to any investment portfolio. The property's reported sales are $3.4 million. The building is a single-story structure. 100% occupancy is currently maintained.