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Vacant CVS - Montgomery, Alabama
Retail Building Located Directly Across From Alabama State University
Listing Contacts
License: NY 10491205822
Active
Asking Price: $1,100,000
Address
1525 Forest Ave, Montgomery, AL 36106
Show on MapDate Added
Apr 29, 2024
Days on Market
319 days
Time Since Last Update
123 days
Details
Property TypeRetail
SubtypePharmacy/Drug
Investment TypeValue Add
Lease TypeNN
TenancySingle
Brand/TenantCVS Pharmacy
Lease Expiration11/02/2025
Remaining Term0.6 years
Square Footage9,589
Net Rentable (sq ft)9,590
Price/Sq Ft$114.71
Occupancy100%
NOI$84,000
Units1
Year Built1996
Buildings1
Stories1
Lot Size (acres)0.65
Broker Co-OpYes
OwnershipFee Simple
Marketing Description
Triple Net Brokers is pleased to offer a prime investment opportunity to purchase a dark CVS PHARMACY located at 1525 Forest Avenue, Montgomery, Alabama 36106. This freestanding retail building features a drive-thru pharmacy and a tenant lease to CVS in place until November 2025, providing an annual rent of $84,000 plus 100% of the real estate taxes.
With a fee simple ownership structure and a building size of 9,589 SQFT on 0.65 acres of land, this property offers a lucrative opportunity for investors who are looking to reposition this property.
Built in 1996, the property boasts 32 parking spaces and a strategic location directly across from the esteemed Alabama State University. The demographics in the area are favorable, with a high average household income within a 5-mile radius.
Investment Highlights
Freestanding retail building
CVS recently vacated, paying rent until November 2025
Fee Simple Ownership
Built in 1996
Drive Thru Pharmacy
32 parking spaces
Real Estate Taxes: $8,531 per year
Zoning: B2
Frontage: 150 ft
Located directly across from Alabama State University
Valuation Calculator
Valuation Calculator
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$84,000.00
$7,000.00/mo
Valuation Metrics
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0
DSCR
7.64%
Cap Rate
7.64%
ROI
Property History
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Due Diligence
Listing Contacts
- License: NY 10491205822
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