Hartselle Walgreens NNN Lease
201 Hwy 31 NW Hartselle, AL 35640
201 Hwy 31 NW, Hartselle, AL, 35640
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For Sale
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Walgreens NNN lease extended through 2038, Hartselle, Alabama.
Property Size14,754 SF
Price / SF$224
Days on Market141
Property Features for 201 Hwy 31 NW
General Information
- Standard status
- Active
- Size
- 14,754 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2007
Listing Agency
CBRE - Atlanta
Listed by
Brian Pfohl · License #GA 349355
Source
Crexi
Added: Feb 25 Checked: Jul 15 at 7:40 pm
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.
Located approximately 11 miles south of Decatur and 28 miles southwest of Huntsville, this property is a Walgreens situated at the hard-corner, signalized intersection of Highway 31 Northwest (21,225 VPD) and Main Street (11,318 VPD). It is less than 3 miles west of access to Interstate 65 (44,933 VPD). The absolute NNN lease, originally set to expire in 2034, was extended through 2038 and now features approximately 12.4 years of primary term remaining, with eleven 5-year options to renew. The property size is 14,754 square feet.
Key Highlights
- Absolute NNN lease extended through 2038.
- Approximately 12.4 years of primary lease term remaining.
- Located at a hard‑corner, signalized intersection of Highway 31 Northwest and Main Street.
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 | $235.5k | $15.96 |
| − Vacancy | −$16.0k | −$1.09 |
| EGI | $219.5k | $14.87 |
| − OpEx | −$54.9k | −$3.72 |
| NOI | $164.6k | $11.16 |
14,754 SF · lease $15.96/SF/yr · vacancy 6.80% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.35M
$2.06M – $2.74M
NOI $164,596 @ 7.0% cap · market cap 4.96%
Second Best
Retail
$1.74M
$1.53M – $2.03M
NOI $122,013 @ 7.0% cap · market cap 3.68%
Theoretical Best
Office A
$3.07M
$2.69M – $3.58M
NOI $214,865 @ 7.0% cap · market cap 6.47%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Walgreens Photo
(Bike/Boat/Book/etc) Store
Walgreens Pharmacy
Pharmacy
Redbox
Cinema
COVID-19 Drive-Thru Testing ...
Pharmacy
Western Union
Bank
Similar For Sale Nearby
Similar Off Market Nearby
- Kroger Pharmacy — 241 Hwy 31 SW Ste K, Hartselle, AL 35640
- Gilchrist Pharmacy — 615 Mynatt St SW suite b, Hartselle, AL 35640
- EATON WIZE NUTRITION — 907 Hwy 31 SW, Hartselle, AL 35640
- CVS Pharmacy — 240 hwy 31 sw, hartselle, al 35640
- Hartselle Fitness Center — 800 Hwy 31 SW Suite G, Hartselle, AL 35640
FAQs
What type of property is this?
Drug store - Walgreens NNN lease extended through 2038, Hartselle, Alabama.
Where is this drug store located?
The property is located at 201 Hwy 31 NW Hartselle, AL.
What is the asking price?
The asking price for this property is $3,319,600.
What are key features of this property?
This property features: Absolute NNN lease extended through 2038.; Approximately 12.4 years of primary lease term remaining.; Located at a **hard‑corner, signalized intersection** of Highway 31 Northwest and Main Street.
