Absolutely NNN-Leased Drugstore
For Sale
Contact for pricing
9151 MOFFETT RD, Semmes, AL 36575
Built in 1999, the retail building is offered fee simple and 100% leased to CVS Health under an absolute NNN structure.
Property Size10,260 SF
Lot Size1.38 Acres
Price / SF$139.86
Days on Market133
Property Features for 9151 MOFFETT RD
General Information
Standard status
Active
Size
10,260 SF
Lot size
1.38 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$104,000
Building Details
Year Built
1999
Buildings
1
Stories
1
Units
4
Tenancy
Single
Listing Agency:
Lee & Associates San Diego - Carlsbad
Listed By:
Ryan Bennett · License #CA 01826517
(760) 519-0240
Source:
Crexi
Added: Apr 25
Changed: Aug 28
Last Checked: Sep 2 at 9:46AM
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 Lee & Associates San Diego - Carlsbad
Investment Insights
Based on property information with market context.
The property consists of a 10,260 square foot retail building built in 1999, situated on approximately 1.38 acres, and offered fee simple. The asset is 100% leased to CVS Health Corporation.
The lease is structured as an absolute NNN agreement, described in the offering as providing zero landlord responsibilities. CVS Health Corporation is identified as an investment-grade tenant with an S&P rating of BBB.
For investors, this is a stabilized, single-tenant retail asset with long-term operational continuity tied to CVS Health under the absolute NNN framework.
The lease is structured as an absolute NNN agreement, described in the offering as providing zero landlord responsibilities. CVS Health Corporation is identified as an investment-grade tenant with an S&P rating of BBB.
For investors, this is a stabilized, single-tenant retail asset with long-term operational continuity tied to CVS Health under the absolute NNN framework.
Key Highlights
- 10,260 SF retail building built in 1999 offered fee simple
- Approximately 1.38 acres
- 100% leased to CVS Health Corporation
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
$107,922
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
7.52%
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%
$2,158,440
$2.2M
Cap Rate 7%
$1,541,743
$1.5M
Cap Rate 9%
$1,199,133
$1.2M
Market Conditions
NOI Build-Up for 10,260 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
$153.9K $15.00/SF
− Vacancy
−$10.0K −$0.98/SF
EGI
$143.9K $14.03/SF
− OpEx
−$36.0K −$3.51/SF
NOI
$107.9K $10.52/SF
Area
Mobile County, AL
Vacancy
6.50%
Lease Rate
$15.00 /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%
$2,158,440
Cap Rate 7%
$1,541,743
Cap Rate 9%
$1,199,133
Alternative Uses
Best Use
Retail
$1.94M
$1.70M – $2.26M
NOI $135,804 @ 7.0% cap · market cap 9.46%
Second Best
Specialty Retail
$1.54M
$1.35M – $1.80M
NOI $107,922 @ 7.0% cap · market cap 7.52%
Theoretical Best
Office A
$2.53M
$2.21M – $2.95M
NOI $176,952 @ 7.0% cap · market cap 12.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
192
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 36575, AL
20,640
Population
8,488
Households
2.4
Avg Household Size
38
Median Age
21%
College-Educated
92%
High-School Grad
40.1 sq mi
ZIP Area
515
Density / Sq Mi
$69,381
Median Household Income
$44,462
Median Earnings
$1,063
Median Rent
$193,600
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
- Walgreens Pharmacy — 9179 Moffett Rd, Semmes, AL 36575
- Leigh Ho — 9151 Moffett Rd, Semmes, AL 365755315
- CVS Pharmacy — 9151 Moffett Rd, Semmes, AL 36575
- Semmes Pharmacy — 8985 Moffett Rd, Semmes, AL 36575
- Ruth A. Dean, RPh — 9082 Moffett Rd, Semmes, AL 36575
Frequently Asked Questions
What type of property is this?
Drug store - Built in 1999, the retail building is offered fee simple and 100% leased to CVS Health under an absolute NNN structure.
Where is this drug store located?
The property is located at 9151 MOFFETT RD Semmes, AL.
What is the asking price?
The asking price for this property is $1,435,000.
What are key features of this property?
This property features: 10,260 SF retail building built in 1999 offered fee simple; Approximately 1.38 acres; 100% leased to CVS Health Corporation
