100 Fieldstown Rd Gardendale, AL 35071

Property Details for 100 Fieldstown Rd

Year built

2001

Lot size

1.30 lot acres

Property size

14,490 SF

Property type

Drug stores

Description

Exceptional investment opportunity: a 14,490-square-foot Walgreens pharmacy in Gardendale, Alabama, built in 2001. This single-tenant, freestanding property sits on a 1.3-acre lot and boasts a prominent location with high visibility and accessibility. The property is subject to a 60-year Double Net (NN) lease with Walgreens Boots Alliance, an S&P-rated "BB" investment-grade corporate guarantor, providing significant long-term stability. The current lease term expires October 31, 2026, with tenant renewal options extending through October 31, 2061. The annual net operating income (NOI) is $376,000, resulting in an 8.55% cap rate. The asking price is $4,400,000, translating to a price per square foot of $303.66. Convenient amenities include a drive-thru pharmacy and 54 parking spaces. The property's strategic location near other major retailers like Publix, Chick-fil-A, and Walmart, within a densely populated area, ensures consistent customer traffic and strong long-term prospects. This investment offers a compelling combination of secure income, significant lease term, and a prime location in a thriving market. The property's strong tenant, favorable lease terms, and attractive financial metrics make it an ideal addition to any commercial real estate portfolio.

Location Insight

City

Gardendale

County

Jefferson

State

Alabama

Longitude

-86.811080710176

Latitude

33.651745658361