Retail Drug Store
1881 Chace Dr Hoover, AL 35244
1881 Chace Dr, Hoover, AL, 35244
Contact for pricing
For Sale
Contact for pricing
For sale retail drug store property with a 3-year rent holiday included in the deal terms.
Property Size13,561 SF
Price / SF$311.56
Days on Market97
Property Features for 1881 Chace Dr
General Information
- Standard status
- Active
- Size
- 13,561 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2009
Listing agency
Net Leased Advisors
Listed by
Matt Ragland · License #TX 646825
Source
Crexi
Added: Apr 16 Updated: Jul 21 at 1:03AM Checked: Jul 21 at 5:28AM
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 Net Leased Advisors
Investment Insights
Based on property information with market context.
This for-sale retail drug store property is offered with a rent holiday structure that runs from 2/2032 through 1/2035, providing a three-year rent holiday period. The listing notes that the price is inclusive of the rent credit for the rent holiday.
The property is located at 1881 Chace Dr in Hoover, AL 35244.
The asset is listed as a retail property and totals 13,561 square feet, per the provided information.
The property is located at 1881 Chace Dr in Hoover, AL 35244.
The asset is listed as a retail property and totals 13,561 square feet, per the provided information.
Key Highlights
- Retail drug store property built in 2009
- 3‑year rent holiday included in the deal terms (rent holiday credit included in the price)
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 | $281.5k | $20.76 |
| − Vacancy | −$11.0k | −$0.81 |
| EGI | $270.5k | $19.95 |
| − OpEx | −$67.6k | −$4.99 |
| NOI | $202.9k | $14.96 |
13,561 SF · lease $20.76/SF/yr · vacancy 3.90% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.90M
$2.54M – $3.38M
NOI $202,910 @ 7.0% cap · market cap 4.80%
Second Best
Retail
$2.71M
$2.37M – $3.16M
NOI $189,383 @ 7.0% cap · market cap 4.48%
Theoretical Best
Office A
$4.67M
$4.08M – $5.44M
NOI $326,568 @ 7.0% cap · market cap 7.73%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Drug stores
Similar For Sale Nearby
Similar Off Market Nearby
- Accredo Health Group — 2100 Riverchase Center # 405, Hoover, AL 35244
- CVS Pharmacy — 1881 Chace Dr, Hoover, AL 35244
- Walgreens Infusion Services — 2100 Riverchase Center Suite 430, Hoover, AL 35244
- Nour Farooq — 1881 Chace Dr, Hoover, AL 352441829
- Trent Quinn — 1881 Chace Dr, Hoover, AL 352441829
FAQs
What type of property is this?
Drug store - For sale retail drug store property with a 3-year rent holiday included in the deal terms.
Where is this drug store located?
The property is located at 1881 Chace Dr Hoover, AL.
What is the asking price?
The asking price for this property is $4,225,000.
What are key features of this property?
This property features: Retail drug store property built in 2009; 3‑year rent holiday included in the deal terms (rent holiday credit included in the price)
