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17409246
17409245

2301 Center Point Pkwy, Birmingham, AL 35215

HC
AL AL 000168807 - 0, TN TN 263667 (+1)
Matthews
Listed by Matthews
$2,790,909
504 days on market
Updated 72 days ago

Dark Walgreens | Birmingham | 11.00% Cap rate

Details
Property Type Retail
Sub Type Convenience Store, Pharmacy/Drug (+1)
Square Footage 14,916
Net Rentable (SqFt) 14,916
Cap Rate 11%
NOI $307,000
Occupancy 100%
Tenancy Single
Brand/Tenant Dollar General, Walgreens (+2)
Lease Type Absolute NNN
Remaining Term 4
Price per SqFt $187
Year Built 1998
Buildings 1
Stories 1
Tenant Credit Corporate Guarantee

Rent is guaranteed by Walgreens Corporate

Investment highlights

INVESTMENT HIGHLIGHTS

  • DARK LOCATION & CORPORATE GUARANTEE – There are +/- 4 Years remaining on the lease with nearly $1.2M of remaining rent which is guaranteed by Walgreens Corporate, Ranked #27 on the Fortune 500 list as of January 2025.

  • ABSOLUTE NNN – This lease offers zero landlord responsibilities ideal for an investor looking for an extremely passive and secure investment. The roof of this property was also replaced around 2014

  • EXCELLENT VISIBILITY + TRAFFIC COUNTS - This property is easily seen as it is situated on the hard corner of Center Point Parkway (+/- 25,000 VPD) and 23rd Ave NE (+/- 5,000 VPD) which are both major thoroughfares that run through Birmingham.

  • NEARBY NATIONAL RETAILERS - Firestone , Davita Kidney Care, Dollar Tree, Dollar General, Regions Bank, Auto Zone, Family Dollar, Taco Bell, Advance Auto Parts, Chick-fil-A, Walmart, USPS, Popeyes, and many national automotive dealerships.

  • BIRMINGHAM - HOOVER MSA - With over 1,150,000 residents, the Birmingham Hoover MSA is the most populous metro of Alabama.

Listing Contacts

HC
AL AL 000168807 - 0, TN TN 263667 (+1)
Matthews
Listed by Matthews

Valuation Calculator

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$307,000.00
$25,583.33/mo

Valuation Metrics

0
DSCR
11%
Cap Rate
11%
ROI

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Additional Information

Name
Hutt Cooke
License
000168807-0, 000110253 - 0 (AL)
Brokerage
Matthews Real Estate Investment Services, Inc
Brokerage Phone
(866) 889-0550
Title
Broker of Record
Brokerage Address
1600 West End Ave, Ste. 1500 Nashville, TN 37203
Name
Hutt Cooke
License
AL 000168807 - 0
Brokerage Phone
866-889-0550
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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