10 Gilmer Ave Tallassee, AL 36078

Property Details for 10 Gilmer Ave

Year built

1997

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.40 lot acres

Property size

11,294 SF

Property type

Retail space

APN

20-04-18-3-304-001.001

APU

2004183304001001

Description

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.

Location Insight

City

Tallassee

County

Elmore

State

Alabama

Longitude

-85.8987

Latitude

32.5376

CBSA code

33860

CBSA name

MONTGOMERY, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments