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    10 Gilmer Ave Tallassee, AL 36078

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    10 Gilmer Ave Tallassee, AL 36078

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    • Retail space
    • 11,294 SF
    • 1.40 lot acres
    For Sale
    $2,199,500
    View Listing →
    Net Leased CVS Pharmacy For Sale
    $2,199,500
    11,325 SF

    Net Leased CVS Pharmacy

    Single tenant CVS Pharmacy in Tallassee, Alabama for sale.

    10 Gilmer Ave, Tallassee, AL 36078
    View Listing
    Property ID
    US03-1167770
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • CVS Photo / (Bike/Boat/Book/etc) Store
    • Buy Bitcoin / Crypto Atm
    • CDReload Instant Bitcoin / Crypto Atm
    • CVS Pharmacy / Pharmacy
    • Redbox / Cinema / (Bike/Boat/Book/etc) Store

    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.

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,090,000
      6.5%
      $1,930,000
      7%
      $1,790,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,096,000
      Market price range: $403k - $2.10M
      AI Estimate
      $2,246,000
      Market price range: $658k - $2.25M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    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

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $7,153
    $221,940
    $953,580
    $1,175,520
    -
    $221,940
    $953,580
    $1,175,520

    Comparable in this City

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      7 Ann Ave, Tallassee, AL 36078-1535
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      308 Main St

      RETAIL STORES (PERSONAL SERVICES) • 3,240 SF
      308 Main St, Tallassee, AL 36078-1937
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    • Value Estimation by Request
      1,026 SF

      1295 Tallassee Dr

      RETAIL STORES (PERSONAL SERVICES) • 1,026 SF
      1295 Tallassee Dr, Tallassee, AL 36078-5032
      View Details
    • Value Estimation
      $615,000
      3,325 SF

      2537 Kent Rd

      RETAIL STORES (PERSONAL SERVICES) • 3,325 SF
      2537 Kent Rd, Tallassee, AL 36078-7401
      View Details
    • Value Estimation by Request
      2,379 SF

      Tallassee, AL 36078

      RETAIL STORES (PERSONAL SERVICES) • 2,379 SF
      Tallassee, AL 36078
      View Details

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    • Contact for pricing
      11,325 SF

      Net Leased CVS Pharmacy

      Single tenant CVS Pharmacy in Tallassee, Alabama for sale.
      10 Gilmer Ave, Tallassee, AL 36078
      View Details
    • $65,000
      8.00 Acres

      Unrestricted Land in Tallassee, AL

      8 acres in Elmore County, ideal for homesite or investment.
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    Tallassee, AL 36078
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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