NN Walgreens in Bessemer,
For Sale
Contact for pricing
1815 9th Ave N, Bessemer, AL 35020
NN Walgreens for sale in a growing Alabama market.
Property Size15,120 SF
Price / SF$211.64
Days on Market138
Property Features for 1815 9th Ave N
General Information
Standard status
Active
Size
15,120 SF
Total Parking Spaces
74
Property subtype
Retail
Zoning
C4
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$320,000
Building Details
Year Built
2001
Buildings
1
Units
1
Tenancy
Single
Listing Agency:
Exclusive Realty
(248) 833-6601
Listed By:
Steve Sagmani · License #MI 6502426558
Source:
Crexi
Added: Mar 27
Changed: Aug 8
Last Checked: Aug 8 at 6:42AM
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 Exclusive Realty
Investment Insights
Based on property information with market context.
This NN Walgreens property is located on 9th Avenue North in Bessemer, Alabama, southwest of Birmingham. The property, with a size of 15120 square feet, is situated in a well-established commercial corridor. The location benefits from consistent traffic and proximity to schools and medical facilities. The property is tenanted by a nationally recognized, investment-grade Walgreens, secured by a long-term NNN lease. This offers investors stable, passive income in a proven Alabama market.
Key Highlights
- Long‑term NNN lease with Walgreens provides stable, passive income.
- Strategically located on 9th Avenue North in a well‑established commercial corridor in Bessemer, Alabama.
- High visibility and consistent traffic flow.
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
$226,237
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
7.07%
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%
$4,524,740
$4.5M
Cap Rate 7%
$3,231,957
$3.2M
Cap Rate 9%
$2,513,744
$2.5M
Market Conditions
NOI Build-Up for 15,120 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
$313.9K $20.76/SF
− Vacancy
−$12.2K −$0.81/SF
EGI
$301.6K $19.95/SF
− OpEx
−$75.4K −$4.99/SF
NOI
$226.2K $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 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%
$4,524,740
Cap Rate 7%
$3,231,957
Cap Rate 9%
$2,513,744
Alternative Uses
Best Use
Specialty Retail
$3.23M
$2.83M – $3.77M
NOI $226,237 @ 7.0% cap · market cap 7.07%
Second Best
Retail
$3.02M
$2.64M – $3.52M
NOI $211,155 @ 7.0% cap · market cap 6.60%
Theoretical Best
Office A
$5.20M
$4.55M – $6.07M
NOI $364,111 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
413
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 35020, AL
24,213
Population
12,327
Households
2
Avg Household Size
40
Median Age
10%
College-Educated
82%
High-School Grad
16.6 sq mi
ZIP Area
1,459
Density / Sq Mi
$33,247
Median Household Income
$27,762
Median Earnings
$856
Median Rent
$90,900
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.
Similar Off Market Nearby
- Collie E. Ray, RPh — 230 19th St N, Bessemer, AL 35020, United States
- Tina M. Sfakianos, RPH — 230 19th St N, Bessemer, AL 35020, United States
- Pharmacy PX — Bessemer, AL 35020
- CVS Pharmacy — 901 9th Ave N, Bessemer, AL 35020
- Adria Neely — 901 9th Ave N, Bessemer, AL 350205308
Frequently Asked Questions
What type of property is this?
Drug store - NN Walgreens for sale in a growing Alabama market.
Where is this drug store located?
The property is located at 1815 9th Ave N Bessemer, AL.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: Long‑term NNN lease with Walgreens provides stable, passive income.; Strategically located on 9th Avenue North in a well‑established commercial corridor in Bessemer, Alabama.; High visibility and consistent traffic flow.
