2490 Schillinger Rd S
Mobile, AL 36695

Pharma Property Group has been exclusively retained by ownership to present for sale the opportunity to acquire the Walgreens property located in Mobile, Alabama. This property is available for purchase and operates on a double net lease basis with 11 years remaining on the lease term, including five (5-year) options to follow. Walgreens recently exercised two five-year options early showing commitment to this location. Income guaranteed by Walgreens corporation which has an investment grade credit rating of BBB (S&P) and is a top 20 Fortune 500 company with approximately 9,500 locations. Providence Hospital is a 349-bed, full service medical and surgical facility located just 2.5 miles northeast of the subject property. Other medical facilities in the area include Integrated Pain Management of Alabama, Northcut Dental, and Crawford Family Dental. This Walgreens is one of only three drugstores within a 2-mile radius. The nearest Walgreens is located 1.4 miles southwest and the nearest CVS located approximately .98 miles to the east. There are no Rite Aids in the state of Louisiana. The subject property is located in a suburb approximately 16 miles east of downtown Mobile and is surrounded by residential and retail. Major retail tenants in the area include Club 4 Fitness, McDonalds, Advanced Auto Parts, Subway, Pizza Hut, Whataburger, Waffle House and Firestone. The property is located at the signalized corner of Memorial Drive and Rays Road with a combined traffic count of 35,341 vehicles per day. Interstate 65 is located a short drive east of the subject property with approximately 89,560 vehicles per day. The average household income in a 3-mile radius is $89,121, in a 5-mile radius it is $77,339 and it is $67,090 in a 10-mile radius. Total 3-mile population is 46,809, in a 5-mile radius it is 110,599 and it is 269,844 in a 10-mile radius.