3188 Highway 278 NW - Drug Store FOR SALE


Covington, GA 30014
$6,630,000 USD
619-297-0055
3188 Highway 278 NW, Covington, GA for Sale
$6,630,000 USD
Drug Store - FOR SALE
1/3
null | 7.5% Cap Rate

3188 Highway 278 NW
Covington, GA 30014


HIGHLIGHTS

  • This location ranks in the top 7% of Walgreens stores in GA and is in the 20% nationwide with over 391K annual customer visits (Placer.ai).
  • Walgreens reports above average sales at this location, reinforcing its position as a top producing, high traffic store within the trade area.
  • Constructed in 2012, the store opened as a Walgreens 'Well Experience' with a redesigned layout, updated pharmacy model, and broader product mix.
  • Approximately 36 miles east of Downtown Atlanta and situated along Interstate 20 (63.4K VPD), a major corridor that feeds directly into the city.
  • Proximity to General Mills (400 Employees), Becton Dickinson (700 Employees), and Pactiv Evergreen (370 Employees).
  • Less than one mile from Piedmont Newton, a 107 bed hospital supported by more than 475 physicians and 650 employees.

OVERVIEW

We are pleased to market for sale the Walgreens property located at 3188 Highway 278 NE in Covington, GA (the “Property”). Walgreens has been successfully operating at this location for over 13 years and has over 11 years of firm term remaining before the option periods on an absolute net lease with no landlord obligations whatsoever. According to Placer.ai, this store ranks in the top 7% of all Walgreens locations in Georgia and the top 20% nationwide, generating more than 391,000 annual customer visits. Walgreens reports above average sales, highlighting the store’s position as a top producing, high traffic location within the market. Delivered in 2012, the store was selected for Walgreens's 'Well Experience' format, featuring a modernized layout, upgraded pharmacy platform, and expanded product mix. The Property is positioned approximately 36 miles east of Downtown Atlanta along Interstate 20 (63.4K VPD), a major regional artery feeding directly into the city. The Property sits within a 24.9 million square foot industrial hub, home to major operators including General Mills (400 employees), Becton Dickinson (700 employees), and Pactiv Evergreen (370 employees). Located less than one mile from the Property is Piedmont Newton, a 107 bed regional hospital supported by more than 475 physicians and 650 employees. Listed in conjunction with Brian Brockman, Bang Realty - Georgia Inc, 513-898-1551, wg@bangrealty.com, GA DRE Lic. 378952.

FOR SALE DETAILS

PRICE

$6,630,000 USD

PRICE/SF

$447 USD /SF

CAP RATE

7.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Atlanta MSA | #1 in 15 Mi Radius (Placer.ai)

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2012

SPRINKLERS

-

PARKING SPACES

66

LAND DETAILS

LAND ACRES

1.8 AC

LAND SF

78,408 SF

ZONING

C1

APN/PARCEL ID

C021000020001A00

ASK ABOUT THIS PROPERTY

Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

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Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.