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Walgreens: New Albany, MS 225 State Highway 30 W 14,411 SF Retail Building New Albany, MS 38652 $3,732,273 ($258.99/SF) 6.60% Cap Rate
Investment Highlights
- Positioned at the corner of the signalized intersection of Highway 30 West (9,900 VPD) and the on-ramp to Interstate 22 (26,000 VPD)
- Roughly equidistant between Memphis, TN and Nashville, TN.
- 1.1 MSF of retail, 2.4 MSF of industrial, 344 hotel room and 330 multifamily units within a 3-mile radius
Executive Summary
CBRE is pleased to exclusively offer for sale the 14,411-square-foot Walgreens situated on 1.82 acres in New Albany, MS - the county seat of Union County, MS (population: 28,198). The site is subject to a ±13.4-year absolute NNN lease with a 5% rent increase every 5 years throughout the term and in each of the twelve 5-year renewal options.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,411 SF
Building Class
B
Year Built
2009
Price
$3,732,273
Price Per SF
$258.99
Cap Rate
6.60%
NOI
$246,330
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
1.82 AC
Parking
53 Spaces (3.68 Spaces per 1,000 SF Leased)
Amenities
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
Fairly walkable
40/100
Exceptionally drivable
100/100
Not bikeable
10/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 018N-06-032.00 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $309,798 |
Property Taxes
Parcel Number
018N-06-032.00
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$309,798
Contacts
-
Thomas Carr -
Jack Kauss -
Brian Pfohl -
Maury Vanden Eykel -
Leah Lindell -
Abby Kelly -
CBRE
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Walgreens: New Albany, MS | 225 State Highway 30 W
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