CAP Rate: 6.11%
Net Operating Income: $330,000
Square Footage: 14,500
Lot Size: 2.32 AC
Year Built: 2008
The subject offering is a fee simple interest in an absolute net leased Walgreens in Thomasville, Georgia. There are 13 years remaining on the initial term, with the lease calling for zero landlord obligations. The tenant has ten 5 year options to renew. The subject property is well situated on a major commercial thoroughfare and is located at a signalized intersection. Nearby retailers include Walmart Supercenter, Belk, Wendy’s, Chick-fil-A, McDonald’s, and many more.
Thomasville is the county seat of Thomas County, Georgia, United States. The population was 19,340 at the 2013 United States Census, making it the second largest city in southwest Georgia after Albany.
The city deems itself the “City of Roses” and holds an annual Rose Festival. The city features plantations open to the public, a historic downtown, a large farmer’s market, and a 337-year-old oak tree at the corner of Monroe and Crawford streets.
In 2016, Thomasville was featured as the second-best historic small town in USA Today on one of the paper’s 10 Best Lists.