CVS Pharmacy 2550 Dauphin St 10,125 SF Retail Building Mobile, AL 36606 $3,516,000 ($347.26/SF) 7.15% Cap Rate
INVESTMENT HIGHLIGHTS
- CVS Health Corp: Investment Grade Credit Tenant (S&P: BBB) | Largest Pharmacy in the US | Revenues of $357.8 Billion | #6 on Fortune 500
- Real Estate Advantage | Signalized Corner with Combined 30,000+ VPD | Strong Draw to Trade Area | Proximity to the Gulf of Mexico
- Potential for Long Term Value Appreciation | Continued Urban Development - Growth Trajectory
- 4 Years Remaining on Lease Term | Long-Term Passive Income Stream | Absolute NNN Lease
- Attractive Demographics & Growing Market | Moderate and Steady Growth in Recent Years - Continued Population Increases Due to Growing Job Market
- Strong Local Economy and Demographics | Top Employers: Huntington Ingalls Industries, University of South Alabama, Boeing, & Austal
EXECUTIVE SUMMARY
Lee & Associates is pleased to exclusively offer for sale the opportunity to acquire the fee simple interest (land & building) in
a CVS Pharmacy investment property located in Mobile, AL (the “Property”). Constructed in 2004 as a build-to-suit
for CVS, the Property consists of a 10,125-square-foot retail building with drive thru lane situated on a 1.61-acre parcel.
This property is on an Absolute-NNN lease, providing a stable and passive income stream with zero landlord responsibilities.
The area surrounding the property features a high-density residential neighborhood with excellent traffic flow, making this location a convenient and highly accessible destination for customers. Additionally, Mobile's strategic location along the Gulf of Mexico facilitates commercial growth, making the region a thriving hub for both business and tourism.
a CVS Pharmacy investment property located in Mobile, AL (the “Property”). Constructed in 2004 as a build-to-suit
for CVS, the Property consists of a 10,125-square-foot retail building with drive thru lane situated on a 1.61-acre parcel.
This property is on an Absolute-NNN lease, providing a stable and passive income stream with zero landlord responsibilities.
The area surrounding the property features a high-density residential neighborhood with excellent traffic flow, making this location a convenient and highly accessible destination for customers. Additionally, Mobile's strategic location along the Gulf of Mexico facilitates commercial growth, making the region a thriving hub for both business and tourism.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
10,125 SF
Building Class
B
Year Built
2003
Price
$3,516,000
Price Per SF
$347.26
Cap Rate
7.15%
NOI
$251,404
Tenancy
Single
Building Height
1 Story
Building FAR
0.29
Lot Size
0.81 AC
Parking
61 Spaces (6.02 Spaces per 1,000 SF Leased)
Frontage
168’ on Dauphin St
AMENITIES
- Bus Line
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
Walk Score®
Very Walkable (70)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 29-07-23-0-006-123 | Improvements Assessment | $0 |
| Land Assessment | $35,360 | Total Assessment | $35,360 |
