Walgreens | 3025 Allison Bonnett Memorial Dr
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Walgreens 3025 Allison Bonnett Memorial Dr
14,490 SF Retail Building Hueytown, AL 35023 $4,965,000 ($342.65/SF) 6.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Rare Walgreens (NASDAQ: WBA) with Rent Bumps Newer 2022 Long Term 15 Yr. Term Lease
- 5% Rent Bumps every 5 Years including Options - Zero LL Duties Drivethru on Large 1.50 Acres
- 2nd Largest Retail Pharmacy Chain in the Country - Best in Class Brand Name 12.5K Locations Worldwide
- High Profile Signalized Hard Corner across from Publix Supermarket/Walmart Supercenter/ALDI
- Affluent Suburban Community of Birmingham AL - Strong Demo’s Dense Residential Trade Area
EXECUTIVE SUMMARY
The Snyder Carlton National Net Lease Team is pleased to offer to investors a great opportunity to acquire the single tenant absolute NNN leased Walgreens Pharmacy in Hueytown, AL. Walgreens is one of the largest drugstore chains in the U.S. and operates over 9,000 Stores in all 50 states, Washington D.C., Puerto Rico and the U.S. Virgin Islands. The absolute NNN lease has over 12.7 firm lease years remaining in the primary term with twelve 5-year automatic renewal periods, 5% rent increases every 5 years and zero landlord responsibilities. The 14,490 SF standalone building with drive-thru on large 1.5-acre parcel is strategically positioned on the hard corner signalized intersection of Allison-Bonnett Memorial Drive and Brooklane Drive which have a combined traffic count exceeding 33,400 VPD and prospers from excellent visibility and access.
Nearby retailers include Walmart Supercenter, ALDI, Ace Hardware, AutoZone, CVS, McDonald’s, Taco Bell, KFC, Hardee’s and more.
Nearby retailers include Walmart Supercenter, ALDI, Ace Hardware, AutoZone, CVS, McDonald’s, Taco Bell, KFC, Hardee’s and more.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,490 SF
Building Class
B
Year Built
2002
Price
$4,965,000
Price Per SF
$342.65
Cap Rate
6.75%
NOI
$335,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Lot Size
1.50 AC
Zoning
B3C
Parking
32 Spaces (2.21 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 30-00-20-4-002-003.000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $428,160 |
PROPERTY TAXES
Parcel Number
30-00-20-4-002-003.000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$428,160
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Walgreens | 3025 Allison Bonnett Memorial Dr
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