101 Doug Baker Blvd Hoover, AL 35242-2675

Property Details for 101 Doug Baker Blvd

Year built

2003

Construction

WOOD

Lot size

2.03 lot acres

Property size

14,482 SF

Property type

Investment properties

Property subtype

Retail residential properties

APN

93050001030008

APU

93050001030008

Description

This exceptional investment opportunity presents a 14,560-square-foot Walgreens, located at 101 Doug Baker Blvd, Birmingham, AL 35242. The property boasts a prime location at the intersection of US 280 (80,128 vehicles per day) and Doug Baker Boulevard (9,720 vehicles per day), offering excellent visibility and high traffic exposure. As an outparcel to The Village at Lee Branch, a thriving retail center anchored by Publix, Dick's Sporting Goods, and Hobby Lobby, among others, this property benefits from significant foot traffic and a strong retail environment. The Walgreens lease, an Absolute NNN (triple net) lease with a corporate guarantee, provides a hands-off investment with zero landlord responsibilities. The lease commenced March 11, 2004, and has a remaining term of 11 years, with 10 five-year renewal options extending to September 29, 2035. The property sits on a 2.03-acre lot and was built in 2003. The current annual net operating income (NOI) is $325,500, representing a 7.15% cap rate on the asking price of $4,552,000. The surrounding area is highly affluent, with a 3-mile radius population of 41,618 earning over $160,000 annually and a 5-mile radius population of 71,358 earning over $154,000 annually. Birmingham, Alabama is experiencing robust growth, making this a highly desirable investment market. This is a 100% occupied, Class A retail property representing a secure and lucrative investment opportunity.

Location Insight

City

Hoover

County

Shelby

State

Alabama

Longitude

-86.6653

Latitude

33.4088

CBSA code

13820

CBSA name

BIRMINGHAM-HOOVER, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments