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201 Highway 31 NW
Hartselle, AL 35640
Walgreens: Hartselle, AL · Retail Property For Sale
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
$3,319,600
Price Per SF
$225.00
Cap Rate
7.75%
NOI
$257,267
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)
Property Taxes
| Parcel Number | 15-02-10-3-005-020.000 | Improvements Assessment | $374,120 |
| Land Assessment | $63,860 | Total Assessment | $437,980 |
Property Taxes
Parcel Number
15-02-10-3-005-020.000
Land Assessment
$63,860
Improvements Assessment
$374,120
Total Assessment
$437,980
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