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Views: 207 DOM: 712 Updated: 09.27.24 Posted: 01.09.23 Status: Active

Summary

Price $11,310,633
Built/Renov 2019
Tenant CVS Pharmacy
Cap Rate 5.96%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 13,376
Lease Start 01-02-2010
#Units 9,395
Price/SF $845.59
Expiration 01-31-2035
Tenant Type Pharmacy
NOI $673,638
R. Term 10.1
Ownership Fee Simple
Rent/SF $50.36
Increases 0.0%/0/yrs
Pop 5Mi 163,768
Lot/AC 1.78
Options 10/5yrs
AHHI 5Mi $52,145

Lease Highlights

  • CVS has 10+ years remaining on their initial term with 10 (5-year) options to extend
  • The last 36 months of rent in the initial term will be credited to buyer at closing
  • Buyer to receive credit in the amount of $2,020,914 at closing
  • Lease is corporately guaranteed by CVS Corporation
  • CVS is an investment grade tenant (S&P: BBB)

Location Description

This build to suit, drive thru equipped pharmacy site is located at the hard corner, signalized intersection of Old Shell Rd. and McGregor Ave., averaging roughly 19,800 VPD. The property is directly adjacent to Mobile's Spring Hill College and is surrounded by high income neighborhoods and strong retail tenants. The area holds strong demographics, with a population of 163,768 within a 5-mile...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

CVS Pharmacy, Inc. is an American retail corporation and is the largest pharmacy chain in the United States by number of locations and total prescription revenue. CVS sells prescription drugs and...


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Demographics

  1 Miles 3 Miles 5 Miles
2027 Total Population : 6,334 64,630 160,773
2022 Total Population : 6,435 65,004 162,061
2022 Employed Civilian Pop : 3,018 30,196 71,354
2022 Total Businesses : 268 3,440 7,060
2022 Average Household Income : $ 132,926 $ 73,077 $ 68,570
2022 Total Consumer Spending : $ 268 M $ 1691 M $ 4015 M
2022 Median Age : 40 36 38
2022 Total Households : 2,399 26,781 67,698
2022 Pop Age 25+: Bachelor's Degree : 1,575 9,982 22,060
2022 Average Home Value : $ 440,886 $ 234,080 $ 208,003
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
South McGregor Avenue McGregor Ct 2020 10,402 0.05 mi
Old Shell Road McGregor Ave N 2019 16,372 0.06 mi
North McGregor Avenue Princess Anne Rd 2020 11,532 0.19 mi
Spring Bank Road McGregor Ave 2020 406 0.22 mi
N Mc Gregor Ave The Cedars Ave 2006 13,500 0.33 mi
McGregor Ave Yester Pl 2006 10,500 0.34 mi
North McGregor Avenue Museum Dr 2020 7,931 0.37 mi
South McGregor Avenue Oakway Dr 2019 7,199 0.43 mi
Old Shell Road Austill Ave 2020 18,529 0.45 mi
North McGregor Avenue Sheips Ln 2020 6,166 0.52 mi

Listing Broker

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