Walgreens - Phenix City, AL_Property for Sale
Walgreens - Phenix City, AL_Property for Sale
5301 Summerville Rd, Phenix City, AL, 36867, US

Walgreens - Phenix City, AL

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer for sale a single tenant Walgreens (the “Property” or “Asset”) offering in Phenix City, AL. The Asset is  strategically located on an oversized 3-acre hard corner parcel adjacent to a strong performing Publix Supermarket. Additionally, the Property is a 3-minute drive from Jack Hughston Memorial Hospital, a level-2 trauma facility with 70 beds and 30,000 annual visits. 


The surrounding area boasts average annual household incomes of $114,000 and has experienced an unprecedented 32% population growth since 2010.  Located in the heart of the booming south, the Property is less than 4-miles from downtown Columbus, Georgia, the second largest city in the state.


This high performing Walgreens location generates $3.9 million (RX excluded) in annual sales and ranks in the 74th percentile of most frequented Walgreens nationally, per Placer Ai. Upon close of escrow, Walgreens will execute a 15-year Absolute NNN lease with contractual increases and (12) 5-year renewal options. This Asset provides an opportunity to acquire a long-term cash flow guaranteed by Walgreens Corporate with zero landlord responsibilities in a rapid growth market.


Broker of Record: Elizabeth "Buff" Walker Teague - buff.teague@jll.com - License # AL - 83353-0

...

Attributes

Asking Price
€5,166,000
Building area Gross
1,377 m²
Occupancy
100.00%
Year built
2008
Land area Gross
1.14 ha (11,399 m²)
Cap Rate
5.70%
NOI
€295,000

Media

Investment Highlights

Investment-grade tenant (S&P: BBB)

Brand-new, 15-year Absolute NNN lease with no landlord obligations & 12, 5-year renewal options

Top performing location that generates nearly $4 million dollars in sales (RX excluded) and ranks in the 74thg percentile of most frequented locations per Placer Ai

Located on the corner of Pierce Rd and Summerville Rd with exposure to 40,000 VPD

Property sits on an out-pad of a Publix Supermarket which attracts over 875,00 visitors

The surrounding 1-mile radius has experienced a 32% growth since 2010

Walgreens - Phenix City, AL 4_Property for Sale

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Walgreens - Phenix City, AL (0 Properties)

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Last updated
15 Sep 2023