Cap Rate: 7.88%
Net Operating Income: $315,000
Square Footage: 14,342
Lot Size: 1.63 AC
The subject property is a 14,342 square foot building, leased to Walgreens (WBA) on an absolute NNN lease. The lease is corporately guaranteed and calls for zero landlord obligations. The asset is well located in Lake City, Georgia just 11 miles from Downtown Atlanta. The property is situated near several retailers including Walmart, McDonald’s, Dollar General, Kroger and more.
Lake City is a city in Clayton County, Georgia, United States. The population was 2,612 at the 2010 census. It is bordered to the south by Morrow and to the west and north by Forest Park. Fort Gillem is directly to the north, within the Forest Park city limits. Downtown Atlanta is 11 miles (18 km) to the north.