| Purchase Price | $4,360,000 |
|---|---|
| Annual Rental Income | $350,000 |
| Cap Rate | 8.03% |
| Lease Term | 9 Years |
| City | Kennesaw |
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Walgreens – Kennesaw, GA (Atlanta MSA)
This Walgreens Pharmacy located in Kennesaw, Georgia presents a premier opportunity to acquire a single-tenant, absolute triple-net (NNN) leased property secured by Walgreens Boots Alliance, one of the most recognized, creditworthy, and essential retail tenants in the United States. Strategically situated within the booming Atlanta Metropolitan Statistical Area (MSA), the property offers investors a long-term, stable income stream with zero landlord responsibilities, underpinned by strong market fundamentals, exceptional demographics, and a corporate lease backed by an investment-grade tenant.
Kennesaw is one of Atlanta’s most desirable suburban cities, characterized by a blend of strong population growth, upper-middle income households, expanding healthcare infrastructure, and a thriving retail landscape. The surrounding community supports high demand for essential services such as pharmacy care, wellness products, and over-the-counter medication—all core offerings of Walgreens. As the Atlanta MSA continues its rapid growth trajectory, high-credit, net lease properties in prime submarkets like Kennesaw become increasingly attractive to passive investors seeking dependable cash flow and long-term security.
Tenant Overview – Walgreens Boots Alliance
Walgreens, a subsidiary of Walgreens Boots Alliance (NASDAQ: WBA), is one of the most established and reliable pharmacy retailers in the United States. The company operates more than 8,000 retail locations across the country and continues to play a vital role in the American healthcare system. Walgreens offers comprehensive prescription fulfillment services, vaccines and immunizations, over-the-counter medications, convenience retail, and telehealth-enabled healthcare solutions.
Walgreens’ strategic shift toward becoming a healthcare services provider has included co-locating clinics through partnerships with primary care groups such as VillageMD and expanding their virtual care offerings. These initiatives reinforce Walgreens’ relevance in both densely populated cities and suburban environments, serving an aging population, families, and consumers seeking immediate and accessible healthcare support.
As a tenant, Walgreens is widely regarded for:
Investors seeking a passive, hands-off investment with dependable income find Walgreens one of the most secure tenant choices in the NNN space.
Lease Structure – Absolute Triple-Net (NNN)
The Walgreens lease in Kennesaw is structured as an absolute triple-net lease, meaning the tenant is responsible for all operating expenses, including property taxes, insurance, maintenance, and capital expenditures. There are no landlord obligations under this lease structure, offering investors the ultimate in passive real estate ownership.
Key lease elements include:
This lease structure is ideal for buyers prioritizing long-term wealth preservation, portfolio stabilization, or 1031 exchange replacement properties that require no management.
Kennesaw, GA – Suburban Growth in the Atlanta MSA
Kennesaw is a vibrant suburban city located approximately 25 miles northwest of downtown Atlanta in Cobb County. With its highly rated public schools, extensive park system, robust infrastructure, and rapid residential growth, Kennesaw has emerged as one of the most desirable communities within the Atlanta MSA. The city’s family-oriented demographic, access to job centers, and consistent retail demand make it an ideal location for essential service providers like Walgreens.
The Atlanta MSA remains one of the top-performing metropolitan regions in the United States for population growth, employment expansion, and in-migration. Home to Fortune 500 companies, universities, healthcare systems, and logistics hubs, the metro has maintained robust demand for suburban real estate, supported by long-term trends such as work-from-home flexibility, Sun Belt migration, and infrastructure development.
Kennesaw’s proximity to major employers, including Lockheed Martin, Dobbins Air Reserve Base, Kennesaw State University, and Wellstar Health System, ensures long-term stability. The surrounding neighborhoods are comprised of middle- to upper-middle-income households that utilize Walgreens’ pharmacy services regularly.
Demographic Highlights
The property benefits from a high-income, densely populated trade area. Within a 5-mile radius, the area boasts:
These fundamentals contribute to the long-term relevance of essential retail providers such as Walgreens. The prescription needs of families, seniors, and health-conscious consumers ensure consistent traffic, particularly in areas like Kennesaw where wellness services are highly valued.
Retail Corridor & Site Characteristics
This Walgreens is located on a prominent retail corridor within Kennesaw, offering excellent visibility, daily traffic exposure, and convenient access from multiple directions. The site features a freestanding building with a drive-thru pharmacy window, ample parking, and accessibility from nearby residential neighborhoods and commercial zones.
Surrounding the property is a diverse tenant mix that includes national grocers, QSR brands, banks, healthcare clinics, and daily-needs retailers. Walgreens’ positioning within this retail environment allows it to capitalize on cross-shopping, foot traffic, and repeat prescription visits from nearby residents.
Site advantages include:
This strategic location ensures long-term site viability and supports Walgreens’ continued commitment to the store.
Walgreens Corporate Credit Profile
Walgreens Boots Alliance is among the most trusted names in commercial net lease investment. With a global healthcare footprint and significant domestic revenue, the company has earned its reputation for credit stability and long-term performance.
Corporate tenant highlights:
Investors benefit from the backing of one of the nation’s most experienced and well-capitalized pharmacy retailers. Walgreens’ long-term approach to real estate and healthcare access reinforces its dependability in the net lease sector.
Investment Highlights
Conclusion
This Walgreens property in Kennesaw, Georgia represents a rare opportunity to acquire a passive, income-producing, credit-backed investment in one of the strongest suburban submarkets in the Atlanta metropolitan area. With a corporate-backed absolute NNN lease, zero landlord responsibility, and prime real estate positioning in a growing, high-income community, this asset meets all the criteria of a long-term, resilient investment.
For investors seeking security, consistency, and quality real estate in an essential service sector, this Walgreens in Kennesaw is a compelling opportunity.