A corporate Walgreens, 11 years left on an absolute NNN lease.
| Purchase Price | Cap Rate | Year-1 NOI | Lease Term Left | Investor Check |
|---|---|---|---|---|
| $5,200,000 | 6.25% | $325,000 | 11 yrs | $1,560,000 |
| All-in basis | vs. 6.25% debt | 10% bumps every 5 yrs | 20-yr absolute NNN | 30% down |
Built for long-term, hands-off returns.
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Investment-grade credit tenant.
Walgreens Co. carries an S&P BBB rating backing an absolute NNN lease.
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Long operating history at this location.
Open and stabilized since 2005, with a 2018 remodel.
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20-year original term with 11 years remaining and 10% rent bumps every 5 years.
Next increase in 2028 — a contractual hedge against inflation.
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Signalized hard-corner location on Roswell Road.
One of the highest-traffic retail corridors in Cobb County.
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Dense, affluent trade area.
Over 68,000 residents within 3 miles with median household income above $84,000.
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Drive-thru pharmacy on-site,
a key driver of foot traffic and repeat visits.
Walgreens Co.
One of the largest pharmacy-led health and wellbeing retailers in the U.S., investment-grade rated.
- ✓Operates 8,500+ stores nationwide.
- ✓S&P BBB investment-grade credit rating.
- ✓Corporate guaranty on an absolute NNN lease.
- ✓Part of Walgreens Boots Alliance, $140B+ in annual revenue.
14,700 SF freestanding, remodeled 2018.
Freestanding pharmacy with drive-thru and signalized corner access.
Built in 2005, remodeled in 2018. Tenant occupies 100% of the building under an absolute NNN lease.
| Building SF | Lot Acres | Year Built | Renovated | Lease Type | Lease Term Left |
|---|---|---|---|---|---|
| 14,700 | 1.60 | 2005 | 2018 | Absolute NNN | 11 yrs |
Where this property sits.
| 3-Mile Pop. | ~68,000 |
|---|---|
| 3-Mile Median HHI | $84,200 |
| City Population | ~60,000 |
| Trade Area | Cobb County |
| Major Metro | Atlanta · 18 min |
Marietta is one of the largest and most established cities in the Atlanta metro, anchored by a mix of corporate offices, Kennesaw State University, and Dobbins Air Reserve Base. Roswell Road is a primary north-south retail corridor with consistently high daily traffic and strong daytime population from surrounding office and medical uses.
Projected investor returns.
| Equity Multiple | 2.35x |
|---|---|
| Investor Contribution | $1,560,000 |
| Cum. Cashflow | $412,800 |
| Loan Paydown | $228,900 |
| Appreciation | $624,000 |
| Tax Benefit3 | $305,000 |
| Total Property Returns | $1,570,700 |
| Cash-on-Cash + Tax | 12.4% |
| Avg Annual Equity | 44.9% |
| Equity Multiple | 3.45x |
|---|---|
| Investor Contribution | $1,560,000 |
| Cum. Cashflow | $891,400 |
| Loan Paydown | $512,300 |
| Appreciation | $884,000 |
| Tax Benefit3 | $305,000 |
| Total Property Returns | $2,592,700 |
| Cash-on-Cash + Tax | 11.9% |
| Avg Annual Equity | 34.5% |
| Closing Cost | Estimate |
|---|---|
| Origination | $39,000 |
| Appraisals & Inspections | $28,500 |
| Legal + Title | $32,000 |
| Total Closing Costs | $99,500 |
| 2026 · Bonus Depreciation | Yr 1 |
|---|---|
| Top Range | $1,352,000 |
| Low Range | $780,000 |
| Average — used in model | $1,066,000 |
FOR A 35% BRACKET: ~$305,000 first-year tax shield on $1,560,000 in.
| Deal Summary | |
|---|---|
| Purchase Price | $5,200,000 |
| Initial Investment | 30% |
| Down Payment | $1,560,000 |
| NOI | $325,000 |
| CAP Rate | 6.25% |
| Projected Exit CAP RateEstimated national average at projected exit | 6.00% |
| Lending Assumptions | |
| Stated LTV | 70% |
| Estimated Interest RateSubject to change based on lending market factors | 6.25% |
| Amortization | 25 |
| Term | 5 |
| Bank Loan Amount | $3,640,000 |
| Investor Contribution Summary | |
| Initial Investment | $1,560,000 |
| Down Payment AssistanceNot available on 1031 | $0 |
| Total Investor Contribution | $1,560,000 |
| Investor Down Payment % | |
| Total Investor Contribution | $1,560,000 |
| Purchase Price | $5,200,000 |
| Investor Down Payment % | 30% |
| Debt Service Summary | |
| Annual Bank Mortgage | $273,000 |
| Custom Preferred Dividend | $0 |
| Total Annual Debt Payments | $273,000 |