Listed by CBRE - Atlanta, CBRE Atlanta
$3,453,600
Walgreens: Sumiton, AL
Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 14,465
Net Rentable (SqFt) 14,465
Units 1
Cap Rate 7.75%
NOI $267,650
Occupancy 100%
Tenancy Single
Brand/Tenant Walgreens
Lease Type Absolute NNN
Lease Expiration 06/30/2038
Remaining Term 12.1
Rent Bumps Yes
Lease Options Eleven 5-Year Options
Price per SqFt $239
Year Built 2008
Buildings 1
Stories 1
Acreage 2.230
Parking Spaces 73 spaces
Parking Per SqFt 5.05
Investment Type Net Lease
Retail | 7.75% CAP | 14,465 SqFt
Marketing description
Located approximately 20 miles northwest of Birmingham, Walgreens is positioned at the hard-corner, signalized intersection of Highway 79 (15,450 VPD) and Bryan Road (5,040 VPD). Originally set to expire in 2034, Walgreens’ absolute NNN lease was extended through 2038 and now features ±12.3 years of primary term remaining with eleven, 5-year options to renew.
Investment highlights
- Walgreens is immediately adjacent to Sumiton Pit Stop and O’Reilly Auto Parts, with Little Caesar’s Pizza and Daylight Donuts immediately across Highway 78. Other retailers in the vicinity include Walmart Supercenter, T-Mobile, Ace Hardware, Advance Auto Parts, Domino’s Pizza, Taco Bell, Mavis Tires & Brakes, Dollar General, Hardee’s, NAPA Auto Parts, McDonald’s and Sonic Drive-In.
- Traffic drivers proximate to the site include Dora High School (500 students, <1-mile northwest), Horse Creek Golf Course (<1-mile northwest), Sumiton Elementary School (708 students, <1-mile north) and Sumiton City Park (<1-mile north).
Listing Contacts
Listed by CBRE - Atlanta, CBRE Atlanta
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$267,650.00
$22,304.17/mo
Valuation Metrics
0
DSCR
7.75%
Cap Rate
7.75%
ROI
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