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Walgreens 3025 Allison Bonnett Memorial Dr

14,490 SF Retail Building Hueytown, AL 35023 £4,296,105 (£296/SF) 6.15% Net Initial Yield

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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.

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Drug Store

Building Size

14,490 SF

Building Class

Year Built

2002

Price

£4,296,105

Price Per SF

£296

Net Initial Yield

6.15%

NOI

£264,315

Tenancy

Single

Number of Floors

Building FAR

0.22

Land Acres

1.50 AC

Zoning

B3C

Parking

32 Spaces (2.21 Spaces per 1,000 SF Leased)

Frontage

218 ft on Allison Bonnett Memorial

Amenities

Pylon Sign

Signage

Signalised Intersection

Drive Thru

Retailer
-
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Walgreens is a trusted and convenient local health destination that millions of Americans rely on every day. Their founder, Charles R. Walgreen Sr., was known for finding new ways to connect with customers on a personal level and treating each person like a guest in his own home. For over a century, they have expanded that personal connection through their network of neighborhood pharmacies and their innovative health services and products. The foundation for all of this is their trusted pharmacy expertise, and their team members who provide essential care that helps people achieve better health outcomes at an affordable cost.