Walgreens Drugstore
1800 Baytree Road
Valdosta, GA 31602
| Price: |
$5,557,377 |
| CAP Rate: |
6.10% |
| Building Size: |
14,618 SF |
| Approx Lot Size: |
1.78 Acre(s) |
| Year Built: |
2006 |
Net Lease Investment: |
Yes |
| Existing Debt: |
Yes |
| Property On Ground Lease: |
No |
| 1031 Exchanges Acceptable: |
Yes |
Property Features- Lease Type: Net, Net, Net Lease. No Landlord responsibilities.
- Lease Term: Twenty -Five (25) years
- Lease Commencement: August, 2006
- Lease Renewal Options: Ten (10) Five (5) year options to terminate after initial lease terms
- Loan must be assumed. Loan balance as of 3.15.08 is $4,157,031.
- There is a 1% assumption fee.
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For more information contact:
Keith Sturm
(612) 332-6600
Upland Real Estate Group, Inc.
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Property Description
This Walgreens Drugstore is located along Baytree Road, a major thoroughfare throughout Valdosta, near the corner of Gorndto Road. This location also places Walgreens within minutes of Highway 133 and Interstate 75, the major north-south artery bringing commuters from Macon, Georgia and Tampa, Florida. Furthermore, the subject property is located across the street from Colonial Mall Valdosta, which contains major retailers including: Sears, JCPenney's, and Belk. Other retailers in the immediate area include: Target, TJ Maxx, Kohl's, Publix Supermarket, Chili's, Chik-Fil-A, Moe's Southwestern Grill, Subway, Arby's, KFC, Taco Bell, Waffle House, Wendy's, Applebee's, Fazoli's, Denny's, Cracker Barrel, Outback Steakhouse, Red Lobster, CiCi's Pizza, Hooter's, Ruby Tuesday's, McDonald's, Burger King, Texas Roadhouse, Hardee's, Steak & Shake, and Zaxby's. The city of Valdosta is the county seat of Lowndes County, Georgia. It is the principal city of the Valdosta, Georgia Metropolitan Statistical Area. As of the 2006 census estimate, the population was 45,529 and the 11th largest city in Georgia. The same estimate showed a population of 126,305 in the Valdosta metropolitan area. Located in the far southern portion of the state, near the Florida line, Valdosta is the commercial center of South Georgia with numerous manufacturing plants. The surrounding area produces tobacco, turpentine, pine lumber, and pulpwood. Moody Air Force Base is located nearby. The economy is also stimulated by Valdosta State University, with an annual student enrollment of approximately 11,000. The total economic impact of Valdosta State University related activities on the Valdosta Metro area reached $331.7 million for fiscal year 2006. Lastly, tourism also plays a major role for the economy in Valdosta. Tourists spent over $200 million dollars in the Valdosta-Lowndes County area in 2006.
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