Listed by CBRE Atlanta, CBRE - Atlanta
$4,979,520
Walgreens: Phenix City, AL
Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 14,744
Cap Rate 6.25%
NOI $311,220
Tenancy Single
Brand/Tenant Walgreens
Lease Type NNN
Lease Expiration 05/30/2039
Remaining Term 13
Rent Bumps Yes
Lease Options Twelve 5-Year
Year Built 2008
Acreage 2.960
Investment Type Net Lease
Retail | 6.25% CAP | 14,744 SqFt
Marketing description
CBRE is pleased to exclusively offer for sale the 14,744-square-foot Walgreens situated on 2.96 acres in Phenix City, AL - a component of the Auburn-Opelika, AL MSA (MSA Population: 206,325). The site is subject to a ±13.0-year absolute NNN lease with a 5% rent increase every 5 years throughout the term and in each of the twelve 5-year renewal options.
Investment highlights
- NNN LEASE WITH RENEWAL OPTIONS: The site is subject to a ±13.0-year absolute NNN lease with a 5% rent increase every 5 years throughout the term and in each of the twelve 5-year renewal options.
- EXCELLENT ACCESS & VISIBILITY: Walgreens is positioned on a hard corner at the signalized intersection of Pierce Road/Riverchase Drive (11,961 VPD) and Summerville Road (9,933 VPD), where it is 1.5 miles north of US-80 (55,224 VPD).
- STRATEGIC LOCATION: The property is diagonally across from a Publix-anchored shopping center that is also home to Mavis Tires & Brakes, Anytime Fitness, Marco’s Pizza, Palm Beach Tan, and UPS to name a few.
- AUBURN-OPELIKA, AL MSA: The Auburn-Opelika Metropolitan Statistical Area (MSA Population: 206,325) encompasses Lee County, Alabama and includes the cities of Auburn and Opelika. Driven largely by Auburn University, the MSA boasts a diverse economy combining higher education, research, manufacturing, and healthcare. Its relatively low cost of living and strong job growth, particularly in technology and related fields, attract both residents and businesses. The area offers a blend of suburban and small-town charm with access to larger regional amenities, creating a vibrant community with a focus on education and a growing population.
Listing Contacts
Listed by CBRE Atlanta, CBRE - Atlanta
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$311,220.00
$25,935.00/mo
Valuation Metrics
0
DSCR
6.25%
Cap Rate
6.25%
ROI
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Is there information that looks off?
