Walgreens in Grand Bay,
For Sale
Contact for pricing
12550 US-90, Grand Bay, AL 36541
14,403 SF Walgreens on 1.63 acres for sale.
Property Size14,403 SF
Lot Size1.63 Acres
Price / SF$239.83
Days on Market516
Property Features for 12550 US-90
General Information
Standard status
Active
Size
14,403 SF
Lot size
1.63 Acres
Property subtype
Retail
Lease Type
NNN
Investment Type
Net Lease
Net Operating Income
$240,075
Building Details
Year Built
2007
Tenancy
Single
Listing Agency:
CBRE Atlanta
(404) 504-7893
Listed By:
Thomas Carr · License #374849
Source:
Crexi
Added: Mar 14, 2025
Changed: Aug 8
Last Checked: Aug 11 at 9:51AM
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 CBRE Atlanta
Investment Insights
Based on property information with market context.
Offered for sale is a 14,403-square-foot Walgreens property situated on 1.63 acres in Grand Bay, Alabama, which is part of the Mobile, AL MSA, with a population of 409,988. The property is subject to an absolute NNN lease with approximately 13.5 years remaining. The lease includes a 5% rent increase every 5 years throughout the term and in each of the twelve 5-year renewal options. This property is suitable for commercial real estate and retail purposes.
Key Highlights
- Absolute NNN lease offers passive income with zero landlord responsibilities.
- Enjoy long‑term stability with a ± 13.5‑year remaining lease term.
- Located in Grand Bay, AL, part of the Mobile, AL MSA.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$190,642
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.52%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,812,840
$3.8M
Cap Rate 7%
$2,723,457
$2.7M
Cap Rate 9%
$2,118,244
$2.1M
Market Conditions
NOI Build-Up for 14,403 SF
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.
Gross rent
$285.2K $19.80/SF
− Vacancy
−$12.8K −$0.89/SF
EGI
$272.3K $18.91/SF
− OpEx
−$81.7K −$5.67/SF
NOI
$190.6K $13.24/SF
Area
Mobile County, AL
Vacancy
4.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,812,840
Cap Rate 7%
$2,723,457
Cap Rate 9%
$2,118,244
Alternative Uses
Best Use
Retail
$2.72M
$2.38M – $3.18M
NOI $190,642 @ 7.0% cap · market cap 5.52%
Second Best
Specialty Retail
$2.16M
$1.89M – $2.53M
NOI $151,502 @ 7.0% cap · market cap 4.39%
Theoretical Best
Office A
$3.55M
$3.11M – $4.14M
NOI $248,406 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
211
Businesses Nearby
16k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
7,981 visits/mo
0.3 miles
Family Dollar
Shops & Services
3,970 visits/mo
0.2 miles
Advance Auto Parts
Shops & Services
2,684 visits/mo
0.0 miles
Castrol Premium Lube Express
Shops & Services
1,076 visits/mo
0.2 miles
Demographics for 36541, AL
14,999
Population
6,432
Households
2.3
Avg Household Size
40
Median Age
14%
College-Educated
89%
High-School Grad
93.1 sq mi
ZIP Area
161
Density / Sq Mi
$76,622
Median Household Income
$49,403
Median Earnings
$919
Median Rent
$164,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Drug store - 14,403 SF Walgreens on 1.63 acres for sale.
Where is this drug store located?
The property is located at 12550 US-90 Grand Bay, AL.
What is the asking price?
The asking price for this property is $3,454,317.
What are key features of this property?
This property features: Absolute NNN lease offers passive income with zero landlord responsibilities.; Enjoy long‑term stability with a ± 13.5‑year remaining lease term.; Located in Grand Bay, AL, part of the Mobile, AL MSA.
