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21758702

100 W Fort Williams St, Sylacauga, AL 35150

CT
IL 475165868
Northmarq - Chicago
Listed by Northmarq - Chicago
$3,581,538
149 days on market
Updated 59 days ago

Walgreens

Details
Property Type Retail
Sub Type Convenience Store, Pharmacy/Drug (+1)
Square Footage 14,620
Cap Rate 6.50%
Occupancy 100%
Tenancy Single
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 02/28/2039
Remaining Term 12.7
Rent Bumps Yes
Lease Options 12 x 5 year
Year Built 2007
Buildings 1
Stories 1
Acreage 1.630
Parking Spaces spaces
Lease Commencement 02/22/2024
Occupancy Date 02/22/2024

Retail | 6.50% CAP | 14,620 SqFt

Marketing description

Northmarq is pleased to offer for sale to qualified investors, the opportunity to purchase a fee simple interest in the Walgreens located in Sylacauga, Alabama (“The Property”). The Property consists of a 14,620-square-foot freestanding retail building on a 1.63-acre parcel of land. Walgreens is operating under an Absolute NNN lease with zero landlord responsibilities, offering a truly passive investment asset. See Lease Abstract for full details.

The Property is located in Sylacauga, Alabama, part of the Birmingham Metropolitan Statistical Area (MSA)—a dynamic and growing region. This presents a unique opportunity to acquire real estate in a market with strong demographic and economic drivers. The Property benefits from proximity to the Sylacauga National Guard Armory, located just 2 miles away, which brings additional consumer traffic to the area. The Property features a competitively priced rent PSF of $15.92. Additionally, it is located 1 mile from the Coosa Valley Medical Center, a prominent 248-bed community health care facility, providing convenient access to a trusted pharmacy for patients, staff, and visitors. The Property is situated on West Fort Williams Street, a key commercial thoroughfare, and is within close proximity to N Broadway Avenue, another significant roadway in Sylacauga. Combined, these roads experience a traffic count of approximately 14,086 vehicles per day (VPD), creating high visibility and accessibility. Overall, the Property’s location in a primary retail corridor, its proximity to a major medical center and military base, and its accessibility from key commercial thoroughfares create strategic exposure to consumers and significant crossover shopping opportunities with neighboring tenants.

Investment highlights

  • Long-Term Commitment Through Sale-Leaseback

  • Rare, Absolute NNN Lease with Rental Escalations

  • Long Operating History with Solid Unit-Level Sales

  • Proximity to Coosa Valley Medical Center

  • Established Retail Corridor of Sylacauga

  • Significantly Below Average Walgreens Rent PSF

  • Birmingham MSA Acquisition Opportunity

Listing Contacts

CT
IL 475165868
Northmarq - Chicago
Listed by Northmarq - Chicago

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