101 Doug Baker Blvd Hoover, AL 35242-2675
- Investment properties
- 14,482 SF
- 2.03 lot acres
Current Use by Public Records
- Investment properties
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.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $3,540,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $4,065,000
- 6.5%
- $3,930,000
- 7%
- $4,570,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $3,745,000
- Geo Method
- $3,945,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $3,560,000
- Retail
- $3,695,000
- Mixed-Use
- $3,640,000
- Hospitality
- $4,700,000
- Educational
- $4,590,000
- Residential Income
- $4,205,000
- Energy
- $4,150,000
- Income-Based Land
- $4,600,000
- Food Service
- $4,135,000
Location Insight
- Map
- Local Demand
- City
- Hoover
- County
- Shelby
- State
- Alabama
- Longitude
- -86.6653
- Latitude
- 33.4088
- CBSA code
- 13820
- CBSA name
- BIRMINGHAM-HOOVER, AL METROPOLITAN STATISTICAL AREA
