Absolute NNN Walgreens With 11 Years Base Remaining | Huntsville AL MSA
7155 U.S. 431, Albertville, Alabama 35950, USA Map
Listing Price $6,099,000
| Status | Closed |
| Lease Type | Absolute Net |
| Property Type | Retail |
| CAP Rate | 6.31% |
| GLA (Sq. Ft.) | 14,820 |
| NOI | $385,000 |
| Lease Term Remaining | 11 Years |
| Options | Option to Terminate After 25 Year Base Lease and Every Year Thereafter |
| State (BOR) | AL |
| Broker of Record | Eddie Greenhalgh |
| License # (BOR) | 00008-8298 |
| Close Date | Mar 22, 2023 |
Investment Highlights
- Subject is a Prime 14,820 Square-Foot Walgreens on a Highly Visible 1.97 Acre Lot with Exceptional Ingress/Egress, Drive-Thru and Ample Parking
- Features Absolute NNN Lease with a 75-Year Base Term and Zero Landlord Responsibility | Eleven Years Remaining Until Option
- Investment-Grade Credit Tenant Walgreens Boots Alliance (NASDAQ: WBA) has a Long-Term Credit Rating of Baa2 (Stable) from Moody’s and Investment Grade Rating of BBB (Stable) from S&P
- Well Established Retail Corridor | Nearby National Retailers Include: McDonald’s, AutoZone, O’Reilly Auto Parts, Dollar General, Hobby Lobby, Taco Bell, Dunkin’, T.J. Maxx, and Many Others
- Affluent Bedroom Community in Huntsville MSA with an Average Household Income of Over $59K within Five Miles of the Subject Asset, as of 2020
- Robust Traffic Counts on US-431 (34,320 Vehicles Per Day) and AL-75 (14,470 Vehicles Per Day), the Busiest Intersection in the County (Source: City of Albertville, 2018)
- Subject is 52 Miles from Huntsville International Airport, Serving Over 700K Passengers Annually (Source: Bureau of Transportation Statistics)
- Parks and Outdoor Recreational Facilities Nearby Include: US Space & Rocket Center, Sand Mountain Park & Amphitheater, Lake Guntersville, Gunter’s Landing, and Eagle’s Nest Golf Course
