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    10 Gilmer Ave Tallassee, AL 36078

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    Alabama CVS: NNN Lease, Strong NOI

    Property size:
    11,325 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a single-tenant, absolute NNN leased CVS Pharmacy in Tallassee, Alabama. The 11,325 square foot building, constructed in 1997 and renovated in 2010, sits on a 1.4-acre lot with ample parking (4.24 spaces per 1,000 sq ft). The property boasts a highly favorable location at a hard corner with a signalized intersection, enjoying proximity to Tallassee High School, Tallassee Elementary, and Tallassee Community Hospital. The current lease, commencing April 1, 2010, and expiring January 31, 2031, provides a remaining term of approximately 6.2 years, with six 5-year renewal options. Rent increases are structured at 7.15% for the first option period and 5% thereafter. The property generates a strong net operating income (NOI) of $157,416. The tenant, CVS Pharmacy, is a highly creditworthy national chain, providing significant investment security. Limited local competition further enhances the property's value. Nearby retailers include Dollar General, Super Goods, and Tractor Supply. The property's parcel ID is 20 04 18 3 304 001.001. This is an ideal investment for those seeking a stable, long-term, and high-performing retail asset. The trade area population exceeds 18,000.

    Property Features for 10 Gilmer Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    11,325 SF
    Lot Size
    60,984 SF

    Building Details

    Year Built/Renovated
    1997/2010
    Buildings
    1
    Stories
    1

    HighLights

    • Absolute NNN lease with CVS Pharmacy, providing a current NOI of $157,416.
    • 11,325 square foot building on a 1.4‑acre lot, built in 1997 and renovated in 2010.
    • Located at a hard corner with a signalized intersection in Tallassee, AL, near Tallassee High School, Tallassee Elementary, and Tallassee Community Hospital.
    • Lease term expires January 31, 2031, with six 5‑year renewal options; current remaining lease term is 6.2 years.
    • Rent bumps are 7.15% for the first option period and 5% thereafter. The lease includes a corporate guaranty from CVS Caremark.
    • Property features 4.24 parking spaces per 1,000 square feet. APN: 20 04 18 3 304 001.001.
    Property Profile Location Intelligence

    Current Use by Public Records

    CVS Photo Passport Photo Processor Buy Bitcoin Crypto Atm CDReload Instant Bitcoin Crypto Atm CVS Pharmacy Pharmacy Redbox Movie Rental Kiosk

    Suggested Use

    Restaurant Realty agency Law Firm Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tallassee
    County
    Elmore
    State
    Alabama
    Longitude
    -85.899038043527
    Latitude
    32.53759561984

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    FAQs

    What type of property is this?
    Individual retail property - Alabama CVS: NNN Lease, Strong NOI
    Where is this individual retail property located?
    The property is located at 10 Gilmer Ave Tallassee, AL.
    What are key features of this property?
    This property features: Absolute NNN lease with CVS Pharmacy, providing a current NOI of $157,416.; 11,325 square foot building on a 1.4-acre lot, built in 1997 and renovated in 2010.; Located at a hard corner with a signalized intersection in Tallassee, AL, near Tallassee High School, Tallassee Elementary, and Tallassee Community Hospital.
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    10 Gilmer Ave Tallassee, AL 36078
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    Tallassee, AL 36078
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    10 Gilmer Ave Tallassee, AL 36078
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