Birmingham Retail NNN
2313 Center Point Pkwy Birmingham, AL
2313 Center Point Pkwy, Birmingham, AL, 00000
Contact for pricing
For Sale
Contact for pricing
Corporate guaranteed NNN lease with excellent visibility in Birmingham.
Property Size14,916 SF
Lot Size2.05 Acres
Price / SF$228.69
Days on Market470
Property Features for 2313 Center Point Pkwy
General Information
- Standard status
- Active
- Size
- 14,916 SF
- Lot size
- 2.05 Acres
- Property subtype
- RETAIL
Properties For Sale
at 2313 Center Point Pkwy Contact us
Listing agency
Matthews Real Estate Investment Services - Orange County
(925) 549-1155
Listed by
Tarik Fattah
(925) 549-1155
Source
Moodyscre
Added: Apr 8, 2025 Updated: Jul 10 at 11:38AM Checked: Jul 21 at 5:19AM
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 Matthews Real Estate Investment Services - Orange County
Investment Insights
Based on property information with market context.
This property, located on the hard corner of Center Point Parkway and 23rd Ave NE in Birmingham, offers excellent visibility with traffic counts of approximately 25,000 vehicles per day on Center Point Parkway and approximately 5,000 vehicles per day on 23rd Ave NE. The property has a corporate guarantee from Walgreens, ranked #27 on the Fortune 500 list as of January 2025, with approximately 4 years remaining on the lease and nearly $1.2M of remaining rent. The lease is an absolute NNN lease, offering zero landlord responsibilities. The roof of this property was replaced around 2014. The property is located near Firestone, Davita Kidney Care, Dollar Tree, Dollar General, Regions Bank, Auto Zone, Family Dollar, Taco Bell, Advance Auto Parts, Chick-fil-A, Walmart, USPS, Popeyes, and many national automotive dealerships. The Birmingham Hoover MSA has over 1,150,000 residents.
Key Highlights
- Corporate Guarantee: Lease guaranteed by Walgreens, ranked #27 on the Fortune 500.
- Absolute NNN Lease: Zero landlord responsibilities, offering a passive investment.
- Approximately 4 years remaining with nearly $1.2M of remaining rent.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $268.5k | $18.00 |
| − Vacancy | −$21.5k | −$1.44 |
| EGI | $247.0k | $16.56 |
| − OpEx | −$61.8k | −$4.14 |
| NOI | $185.3k | $12.42 |
14,916 SF · lease $18.00/SF/yr · vacancy 8.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.65M
$2.32M – $3.09M
NOI $185,257 @ 7.0% cap · market cap 5.43%
Second Best
Retail
$2.08M
$1.82M – $2.43M
NOI $145,780 @ 7.0% cap · market cap 4.27%
Theoretical Best
Office A
$3.50M
$3.06M – $4.08M
NOI $245,076 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Drug stores
Similar For Sale Nearby
Similar Off Market Nearby
- Walgreens Pharmacy — 2301 Center Point Pkwy, Center Point, AL 35215
- CVS Pharmacy — 2000 Center Point Pkwy, Center Point, AL 35215
- COVID-19 Drive-Thru Testing at Walgreens — 2301 Center Point Pkwy, Birmingham, AL 35215
- Joanna Nicholas — 2301 Center Point Pkwy, Birmingham, AL 352153618
- Walmart Pharmacy — 1916 Center Point Pkwy, Birmingham, AL 35215
FAQs
What type of property is this?
Drug store - Corporate guaranteed NNN lease with excellent visibility in Birmingham.
Where is this drug store located?
The property is located at 2313 Center Point Pkwy Birmingham, AL.
What is the asking price?
The asking price for this property is $3,411,111.
What are key features of this property?
This property features: Corporate Guarantee: Lease guaranteed by Walgreens, ranked #27 on the Fortune 500.; Absolute NNN Lease: Zero landlord responsibilities, offering a passive investment.; Approximately 4 years remaining with nearly $1.2M of remaining rent.
