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Walgreens: Hartselle, AL 201 Highway 31 NW 14,754 SF Retail Building Hartselle, AL 35640 $4,597,613 CAD ($311.62 CAD/SF) 7.75% Cap Rate
Investment Highlights
- Absolute NNN Lease
- Immediately adjacent to O’Reilly Auto Parts and Agency on Main, with Andy’s Food Mart and Tankersley’s Service Center directly across the street
- Proximate to Decatur and Huntsville, AL
- 1.3 MSF of retail, 1.1 MSF of industrial and 611 multifamily units within a 3 mile radius of the site
Executive Summary
Located approximately 11 miles south of Decatur and 28 miles southwest of Huntsville, Walgreens is located at the hard-corner, signalized intersection of Highway 31 Northwest (21,225 VPD) and Main Street (11,318 VPD), where it is less than 3 miles west of access to Interstate 65 (44,933 VPD). Originally set to expire in 2034, Walgreens’ absolute NNN lease was extended through 2038 and now features ±12.3 years of primary term remaining with eleven, 5-year options to renew.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,754 SF
Building Class
B
Year Built
2008
Price
$4,597,613 CAD
Price Per SF
$311.62 CAD
Cap Rate
7.75%
NOI
$356,312 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Lot Size
1.57 AC
Parking
70 Spaces (4.74 Spaces per 1,000 SF Leased)
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 15-02-10-3-005-020.000 | Improvements Assessment | $517,808 CAD |
| Land Assessment | $88,387 CAD | Total Assessment | $606,195 CAD |
Property Taxes
Parcel Number
15-02-10-3-005-020.000
Land Assessment
$88,387 CAD
Improvements Assessment
$517,808 CAD
Total Assessment
$606,195 CAD
Contacts
-
Thomas Carr -
Brian Pfohl -
Christopher Bosworth -
Abby Kelly -
Leah Lindell -
Katie Goldberg -
Kaitlyn Wolf -
Christopher Decoufle -
CBRE
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Walgreens: Hartselle, AL | 201 Highway 31 NW
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