12550 US-90, Grand Bay, AL 36541

Building Details

Year Built 2007 More

Tenancy Single More

Listing Agency: CBRE - Atlanta

Listed By: Brian Pfohl · License GA #349355 Show Phone

Source: Crexi

Added: Mar 14, 2025 Changed: Nov 10 Last Checked: Nov 12 at 7:20AM

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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 / Yr

$165,099

Cap Rate

4.78%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,301,980 $3.3M

Cap Rate 7%

$2,358,557 $2.4M

Cap Rate 9%

$1,834,433 $1.8M

Is this asking price fair?

Market Conditions

NOI Build-Up for 14,403 SF

Gross rent

$245.4K $17.04/SF

− Vacancy

−$9.6K −$0.66/SF

EGI

$235.9K $16.38/SF

− OpEx

−$70.8K −$4.91/SF

NOI

$165.1K $11.46/SF

Area

Mobile County, AL

Vacancy

3.90%

Lease Rate

$17.04 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,301,980

Cap Rate 7%

$2,358,557

Cap Rate 9%

$1,834,433

Alternative Uses

Best Use

Retail

$2.36M

$2.06M – $2.75M (±1% cap)

NOI $165,099 @ 7.0% cap · market cap 4.78%

Second Best

Specialty Retail

$2.16M

$1.89M – $2.53M (±1% cap)

NOI $151,502 @ 7.0% cap · market cap 4.39%

Theoretical Best

Office A

$3.55M

$3.11M – $4.14M (±1% cap)

NOI $248,406 @ 7.0% cap · market cap 7.19%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Drug stores

Suggested Use

Top Pick Building Supply Hair Salon Restaurant Real Estate Agency Dental Office Law Firm

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

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

7% 2020

6.2% 2021

5.1% 2022

4.8% 2023

4.9% 2024

5.4% 2025

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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.