Listed by CBRE - Atlanta, CBRE Atlanta
$3,774,600
Walgreens: Anniston, AL
Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 13,618
Cap Rate 7.65%
NOI $288,756
Tenancy Single
Brand/Tenant Walgreens
Lease Type Absolute NNN
Lease Expiration 06/30/2038
Remaining Term 11.9
Lease Options Eleven 5-year options
Price per SqFt $277
Year Built 2008
Acreage 2.320
Retail | 7.65% CAP | 13,618 SqFt
Marketing description
CBRE is pleased to offer for sale the 13,618-square-foot Walgreens situated on 2.32 acres in Anniston, AL (MSA Population: 114,730).
Investment highlights
- Originally set to expire in 2034, Walgreens’ absolute NNN lease was extended through 2038 and now features ±12.0 years of primary term remaining with eleven, 5-year options to renew.
- Walgreens is positioned with excellent access and visibility on a hard corner at the signalized intersection of Greenbrier Dear Road (10,995 VPD) and US-431 (24,995 VPD). Additionally, the property is located near the I-20 interchange, providing regional accessibility to Birmingham (64.3 miles west) and Atlanta (85 miles east).
- Walgreens is within 6.1 MSF of retail, 2.0 MSF of office, 5.7 MSF of industrial, 2,400 multifamily units and 1,514 hotel rooms within 5-miles. Retail synergies in the area include Walmart, Home Depot, Lowe’s Home Improvement, Target, Sam’s Club, T.J. Maxx, Kohl’s, Winn Dixie, Dollar General, Cracker Barrel Old Country Store, IHOP, Starbucks, McDonald’s, Wendy’s, Burger King and The UPS Store, adding a consistent consumer draw and strong cross-shopping activity.
- The Anniston-Oxford Metropolitan Statistical Area (MSA Population: 114,730), located in northeastern Alabama, encompasses Calhoun County and includes the cities of Anniston, Oxford and Jacksonville. Anchored by institutions such as Jacksonville State University and the Anniston Army Depot, the region plays a vital role in education, defense, healthcare and manufacturing. Interstate 20 runs through Oxford, providing key connectivity between Atlanta and Birmingham, and supporting the region’s growing retail and service sectors.
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
$288,756.00
$24,063.00/mo
Valuation Metrics
0
DSCR
7.65%
Cap Rate
7.65%
ROI
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Is there information that looks off?
