Walgreens Pharmacy Investment
For Sale
Contact for pricing
100 Fieldstown Rd, Gardendale, AL 35071
NN leased Walgreens in Gardendale, AL with drive-thru.
Property Size14,490 SF
Lot Size1.30 Acres
Price / SF$303.66
Days on Market647
Property Features for 100 Fieldstown Rd
General Information
Standard status
Active
Size
14,490 SF
Lot size
1.30 Acres
Property subtype
Retail
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$376,000
Building Details
Year Built
2001
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
Zeustra Healthcare Real Estate Advisors
(888) 737-2264
Listed By:
Corey Martier · License #PA RS329042
Source:
Crexi
Added: Nov 20, 2024
Changed: Aug 27
Last Checked: Aug 28 at 2:18PM
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 Zeustra Healthcare Real Estate Advisors
Investment Insights
Based on property information with market context.
Located in Gardendale, Alabama, the Walgreens Pharmacy at 100 Fieldstown Rd presents an investment opportunity. The property encompasses 14,490 square feet and benefits from a location at a high-traffic intersection, providing visibility and accessibility. The surrounding area includes businesses such as Publix, Chick-fil-A, and Walmart. Demographically, the area has an average income of $85,000 and a population exceeding 25,000 within a 3-mile radius. The property is leased to Walgreens under a 60-year Double Net (NN) lease with an S&P-rated "BB" investment-grade corporate guaranty. The lease is active through October 31, 2026, with options and an annual rent of $376,000. The property includes a drive-thru pharmacy and 54 parking spaces on a 1.30-acre lot. This commercial property is situated in an area noted for ongoing development and growth.
Key Highlights
- Leased to Walgreens with an S&P‑rated "BB" investment‑grade corporate guaranty
- High‑traffic intersection location ensures excellent visibility and accessibility**
- 60‑year Double Net (NN) lease with options and an annual rent of $376,000
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
$216,811
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
4.93%
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%
$4,336,220
$4.3M
Cap Rate 7%
$3,097,300
$3.1M
Cap Rate 9%
$2,409,011
$2.4M
Market Conditions
NOI Build-Up for 14,490 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
$300.8K $20.76/SF
− Vacancy
−$11.7K −$0.81/SF
EGI
$289.1K $19.95/SF
− OpEx
−$72.3K −$4.99/SF
NOI
$216.8K $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%
$4,336,220
Cap Rate 7%
$3,097,300
Cap Rate 9%
$2,409,011
Alternative Uses
Best Use
Specialty Retail
$3.10M
$2.71M – $3.61M
NOI $216,811 @ 7.0% cap · market cap 4.93%
Second Best
Retail
$2.89M
$2.53M – $3.37M
NOI $202,357 @ 7.0% cap · market cap 4.60%
Theoretical Best
Office A
$4.98M
$4.36M – $5.82M
NOI $348,940 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
722
Businesses Nearby
74k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 76%
Shops & Services 21%
Electronics 3%
McDonald's
Dining
23,738 visits/mo
0.2 miles
Buffalo Wild Wings
Dining
21,669 visits/mo
0.5 miles
Guthrie's
Dining
11,127 visits/mo
0.1 miles
Exxon
Shops & Services
5,360 visits/mo
0.1 miles
TitleMax Title Loans
Shops & Services
3,408 visits/mo
0.1 miles
Demographics for 35071, AL
17,162
Population
7,054
Households
2.4
Avg Household Size
42
Median Age
33%
College-Educated
91%
High-School Grad
57.7 sq mi
ZIP Area
297
Density / Sq Mi
$80,745
Median Household Income
$57,103
Median Earnings
$1,183
Median Rent
$239,500
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Similar Off Market Nearby
- Walmart Pharmacy — 890 Odum Rd, Gardendale, AL 35071
- Atoya Finley — 890 Odum Rd, Gardendale, AL 350714652
- Jodie R. Carr, PharmD — 890 Odum Rd, Gardendale, AL 35071
- Mills Pharmacy at Gardendale — 439 Fieldstown Rd, Gardendale, AL 35071
- Walgreens Pharmacy — 100 Fieldstown Rd, Gardendale, AL 35071
Frequently Asked Questions
What type of property is this?
Drug store - NN leased Walgreens in Gardendale, AL with drive-thru.
Where is this drug store located?
The property is located at 100 Fieldstown Rd Gardendale, AL.
What is the asking price?
The asking price for this property is $4,400,000.
What are key features of this property?
This property features: Leased to Walgreens with an S&P‑rated "BB" investment‑grade corporate guaranty; High‑traffic intersection location ensures excellent visibility and accessibility**; 60‑year Double Net (NN) lease with options and an annual rent of $376,000
