Building Details

Year Built 2008

Tenancy Single

Listing Agency: CBRE - Atlanta

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

Source: Crexi

Added: Mar 6 Changed: Oct 6 Last Checked: Oct 7 at 1:03PM

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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 CBRE - Atlanta

Investment Insights

Based on property information with market context.

This offering features a 13,618-square-foot Walgreens situated on 2.32 acres in Anniston, Alabama, which is part of an MSA with a population of 114,730.

Key Highlights

• Walgreens is the tenant.
• Property size is 13,618 square feet.
• The lot size is 2.32 acres.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$121,778

Cap Rate

3.44%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,435,560 $2.4M

Cap Rate 7%

$1,739,686 $1.7M

Cap Rate 9%

$1,353,089 $1.4M

Market Conditions

NOI Build-Up for 13,618 SF

Gross rent

$176.5K $12.96/SF

− Vacancy

−$14.1K −$1.04/SF

EGI

$162.4K $11.92/SF

− OpEx

−$40.6K −$2.98/SF

NOI

$121.8K $8.94/SF

Area

Calhoun County, AL

Vacancy

8.00%

Lease Rate

$12.96 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,435,560

Cap Rate 7%

$1,739,686

Cap Rate 9%

$1,353,089

Alternative Uses

Best Use

Specialty Retail

$1.74M

$1.52M – $2.03M (±1% cap)

NOI $121,778 @ 7.0% cap · market cap 3.44%

Second Best

Retail

$1.40M

$1.22M – $1.63M (±1% cap)

NOI $97,804 @ 7.0% cap · market cap 2.76%

Theoretical Best

Healthcare Medical

$2.09M

$1.83M – $2.44M (±1% cap)

NOI $146,550 @ 7.0% cap · market cap 4.14%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Walgreens Photo (Bike/Boat/Book/etc) Store FedEx OnSite Postal Service Redbox Cinema COVID-19 Drive-Thru Testing ... Medical Laboratory Western Union Bank

Suggested Use

Top Pick Real Estate Agency Restaurant Law Firm Building Supply Hair Salon Auto Parts Store

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

173

Businesses Nearby

102k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 50% Groceries 35% Shops & Services 15%

Winn-Dixie Groceries

35,982 visits/mo 0.1 miles

McDonald's Dining

31,549 visits/mo 0.0 miles

Burger King Dining

19,312 visits/mo 0.1 miles

Dollar General Shops & Services

11,709 visits/mo 0.2 miles

Regions Bank Shops & Services

3,382 visits/mo 0.0 miles

Demographics for 36207, AL

19,553

Population

9,260

Households

2.1

Avg Household Size

44

Median Age

32%

College-Educated

90%

High-School Grad

74.8 sq mi

ZIP Area

261

Density / Sq Mi

$70,090

Median Household Income

$39,898

Median Earnings

$890

Median Rent

$195,000

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

• Linda B. Hall, PharmD — 1408 Golden Springs Rd, Anniston, AL 36207
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• Walgreens Pharmacy — 1401 Golden Springs Rd, Anniston, AL 36207

Frequently Asked Questions

What type of property is this?

Drug store - 13,618 SF Walgreens on 2.32 acres for sale.

Where is this drug store located?

The property is located at 1401 Golden Springs Rd Anniston, AL.

What is the asking price?

The asking price for this property is $3,543,018.

What are key features of this property?

This property features: Walgreens is the tenant.; Property size is 13,618 square feet.; The lot size is 2.32 acres.