Building Details

Year Built 2001

Buildings 1

Stories 1

Tenancy Single

Listing Agency: Bang Realty

Listed By: Brian Brockman · License #701472 Show Phone

Source: Crexi

Added: Nov 20, 2024 Changed: Oct 13 Last Checked: Oct 12 at 9:10PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bang Realty

Investment Insights

Based on property information with market context.

Located in Gardendale, Alabama, the Walgreens Pharmacy at 100 Fieldstown Rd presents an investment opportunity. The property encompasses 14,490 square feet and benefits from a location at a high-traffic intersection, providing visibility and accessibility. The surrounding area includes businesses such as Publix, Chick-fil-A, and Walmart. Demographically, the area has an average income of $85,000 and a population exceeding 25,000 within a 3-mile radius. The property is leased to Walgreens under a 60-year Double Net (NN) lease with an S&P-rated "BB" investment-grade corporate guaranty. The lease is active through October 31, 2026, with options and an annual rent of $376,000. The property includes a drive-thru pharmacy and 54 parking spaces on a 1.30-acre lot. This commercial property is situated in an area noted for ongoing development and growth.

Key Highlights

• Leased to Walgreens with an S&P‑rated "BB" investment‑grade corporate guaranty
• High‑traffic intersection location ensures excellent visibility and accessibility**
• 60‑year Double Net (NN) lease with options and an annual rent of $376,000

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$216,811

Cap Rate

4.93%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,336,220 $4.3M

Cap Rate 7%

$3,097,300 $3.1M

Cap Rate 9%

$2,409,011 $2.4M

Market Conditions

NOI Build-Up for 14,490 SF

Gross rent

$300.8K $20.76/SF

− Vacancy

−$11.7K −$0.81/SF

EGI

$289.1K $19.95/SF

− OpEx

−$72.3K −$4.99/SF

NOI

$216.8K $14.96/SF

Area

Jefferson County, AL

Vacancy

3.90%

Lease Rate

$20.76 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,336,220

Cap Rate 7%

$3,097,300

Cap Rate 9%

$2,409,011

Alternative Uses

Best Use

Specialty Retail

$3.10M

$2.71M – $3.61M (±1% cap)

NOI $216,811 @ 7.0% cap · market cap 4.93%

Second Best

Retail

$2.89M

$2.53M – $3.37M (±1% cap)

NOI $202,357 @ 7.0% cap · market cap 4.60%

Theoretical Best

Office A

$4.98M

$4.36M – $5.82M (±1% cap)

NOI $348,940 @ 7.0% cap · market cap 7.93%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Walgreens Photo (Bike/Boat/Book/etc) Store Walgreens Pharmacy Pharmacy Redbox Cinema Western Union Bank Walgreens Pharmacy

Suggested Use

Top Pick Building Supply Big Box & Wholesale Store Parking Lot & Garage Garden Center Electrical Service HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

722

Businesses Nearby

74k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 76% Shops & Services 21% Electronics 3%

McDonald's Dining

23,738 visits/mo 0.2 miles

Buffalo Wild Wings Dining

21,669 visits/mo 0.5 miles

Guthrie's Dining

11,127 visits/mo 0.1 miles

Exxon Shops & Services

5,360 visits/mo 0.1 miles

TitleMax Title Loans Shops & Services

3,408 visits/mo 0.1 miles

Demographics for 35071, AL

17,162

Population

7,054

Households

2.4

Avg Household Size

42

Median Age

33%

College-Educated

91%

High-School Grad

57.7 sq mi

ZIP Area

297

Density / Sq Mi

$80,745

Median Household Income

$57,103

Median Earnings

$1,183

Median Rent

$239,500

Median Home Value

Market

Vacancy Rate% for Retail in South region

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this drug stores located? What is the asking price? Find similar properties What are key features of this property?

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Similar Off Market Nearby

• Walmart Pharmacy — 890 Odum Rd, Gardendale, AL 35071
• Atoya Finley — 890 Odum Rd, Gardendale, AL 350714652
• Jodie R. Carr, PharmD — 890 Odum Rd, Gardendale, AL 35071
• Mills Pharmacy at Gardendale — 439 Fieldstown Rd, Gardendale, AL 35071
• Walgreens Pharmacy — 100 Fieldstown Rd, Gardendale, AL 35071

Frequently Asked Questions

What type of property is this?

Drug store - NN leased Walgreens in Gardendale, AL with drive-thru.

Where is this drug store located?

The property is located at 100 Fieldstown Rd Gardendale, AL.

What is the asking price?

The asking price for this property is $4,400,000.

What are key features of this property?

This property features: Leased to Walgreens with an S&P‑rated "BB" investment‑grade corporate guaranty; High‑traffic intersection location ensures excellent visibility and accessibility**; 60‑year Double Net (NN) lease with options and an annual rent of $376,000