2490 Schillinger Rd S
Mobile, AL 36695
Walgreens | Ext. 2018 l 7 Yr l 7.0 CAP $3.8M · Retail Property For Sale

Pharma Property Group has been retained as exclusive agent and is pleased to offer investors the opportunity to acquire a Walgreens in Mobile, Alabama. Walgreens recently exercised its first five-year option (which was slated for 2021) three years early showing commitment to this location. Walgreens now has seven (7) years and four (4) months remaining of guaranteed income before the seven (5 year) options that begin March 31st, 2026. The subject property is in an affluent Mobile suburb with average household incomes of $104,073. The area includes Providence Hospital, a 349-bed, full service medical facility on approximately 277 acres. Also in the area is The University of South Alabama with approximately 17,000 students enrolled and over 5,500 faculty and staff. Mobile is a city in the southwest of Alabama's Gulf Coast. It is the state's oldest city and a major port facility for the region. Aerospace, steel, ship building, retail, services, construction, medicine, and manufacturing are Mobile's major industries. Between 1993 and 2003, new jobs were created as 87 new companies were founded and 399 existing companies were expanded. German technology conglomerate ThyssenKrupp opened a 65 billion stainless and carbon steel processing facility in Calvert, a few miles north of Mobile, in 2010.