Drug Store with Double-Net
For Sale
Contact for pricing
2490 Schillinger Rd S, Mobile, AL 36695
Operating pharmacy leased to Walgreens with extended term options and a signalized-corner setting near residential and retail uses.
Property SizeContact for details
Days on Market143
Property Features for 2490 Schillinger Rd S
General Information
Standard status
Active
Property subtype
Retail
Site & Location
Corner Location
Yes
Traffic Count
35,341 vehicles/day
Highway Access
Yes
Additional Details
Cap Rate
6.5%
Building Details
Tenancy
Single
Listing Agency:
Pharma Property Group
(619) 297-0055
Listed By:
Jason Pongsrikul · License #CA 01918332
Source:
Crexi
Added: Apr 11
Changed: Aug 31
Last Checked: Aug 30 at 7:04AM
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 Pharma Property Group
Investment Insights
Based on property information with market context.
This drug store property is occupied by Walgreens under a double net lease with 11 years remaining and five (5-year) options to follow. Walgreens has exercised two five-year options early. Lease income is guaranteed by Walgreens corporation, which carries a BBB investment-grade credit rating from S&P. The property is positioned at the signalized intersection of Memorial Drive and Rays Road in Mobile, Alabama, within a suburban area surrounded by residential and retail uses.
The site records a combined traffic count of 35,341 vehicles per day, while Interstate 65 is a short drive east and carries approximately 89,560 vehicles per day. Providence Hospital, a 349-bed medical and surgical facility, is located 2.5 miles northeast. Other nearby medical facilities and national retail operators contribute to the surrounding commercial environment.
The site records a combined traffic count of 35,341 vehicles per day, while Interstate 65 is a short drive east and carries approximately 89,560 vehicles per day. Providence Hospital, a 349-bed medical and surgical facility, is located 2.5 miles northeast. Other nearby medical facilities and national retail operators contribute to the surrounding commercial environment.
Key Highlights
- Walgreens occupancy with 11 years remaining on the lease
- Double net lease with five (5‑year) options to follow
- 6.5 CAP
Property Analytics
Property Profile
Current Use
Lease Details
35,341 VPD
Traffic count
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
85
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 36695, AL
51,174
Population
21,269
Households
2.4
Avg Household Size
38
Median Age
34%
College-Educated
95%
High-School Grad
45.6 sq mi
ZIP Area
1,122
Density / Sq Mi
$75,236
Median Household Income
$47,614
Median Earnings
$1,192
Median Rent
$234,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
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Frequently Asked Questions
What type of property is this?
Drug store - Operating pharmacy leased to Walgreens with extended term options and a signalized-corner setting near residential and retail uses.
Where is this drug store located?
The property is located at 2490 Schillinger Rd S Mobile, AL.
What are key features of this property?
This property features: Walgreens occupancy with 11 years remaining on the lease; Double net lease with five (5‑year) options to follow; 6.5 CAP
