CAP Rate: 7.35%
Ground Rent: $110,000
Net Operating Income: $229,947
Lot Size: 3.02 AC
The subject offering is a long term net leased leasehold Walgreens with 16 years of term remaining. The tenant has ten 5 year options to renew which run coterminous with the leasehold position.
The net lease calls for minimal landlord obligations which include roof and structure. The property is well located on a highly trafficked thoroughfare in a major retail trade area. The property benefits from its proximity to major retailers including Walmart, Home Good’s and Kroger. The Walgreens also benefits from its hard corner location offering excellent access and visibility.
Tucker, GA, a well-established community for nearly 125 years, was officially incorporated as DeKalb County’s newest city in early 2016. The City’s inaugural mayor and council are using an innovative public-private partnership to deliver the high quality of service Tucker’s 35,000 residents and business owners deserve. With its rich history, strong community support, desirable location and mix of residential, office, commercial and industrial properties, along with parks and green space, the City of Tucker is poised for success well into the future.