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Walgreens 3500 Mastin Lake Rd NW 15,190 SF Retail Building Huntsville, AL 35810 $2,673,674 ($176.02/SF) 9.50% Cap Rate
Investment Highlights
- Long-Term Operating History – Proven Tenant Commitment – Walgreens has operated at this location for over 23 years
- Two Years Remaining on Absolute NNN Lease – The property offers two years of remaining term on an absolute triple-net (NNN) lease
- Corporate Guarantee by Strong National Tenant – The lease is corporately guaranteed by Walgreens
- Hard Corner Location with Excellent Visibility and Traffic – Positioned on a hard corner along Mastin Lake Rd
Executive Summary
Broker of Record
Hutt Cooke
License # 000110253 - 0 (AL)
Matthews Real Estate Investment Services, Inc
1600 West End, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Hutt Cooke
License # 000110253 - 0 (AL)
Matthews Real Estate Investment Services, Inc
1600 West End, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
15,190 SF
Building Class
B
Year Built/Renovated
2002/2015
Price
$2,673,674
Price Per SF
$176.02
Cap Rate
9.50%
NOI
$254,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
1.90 AC
Zoning
C1
Parking
74 Spaces (4.87 Spaces per 1,000 SF Leased)
Frontage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
- -
- -
- -
Walgreens is a U.S.-based retail pharmacy operator providing prescription drugs, health services, and consumer goods through neighborhood drugstores and digital platforms. The company was founded in 1901 by Charles Rudolph Walgreen in Chicago, Illinois. Over time, Walgreens expanded nationwide and became one of the largest pharmacy chains in the United States. In 2014, Walgreens became part of the newly formed holding company Walgreens Boots Alliance following the acquisition of Alliance Boots.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | - | - | - |
Nearby Major Retailers
Property Taxes
| Parcel Number | 14-05-15-4-002-076.000 | Improvements Assessment | $317,560 |
| Land Assessment | $59,880 | Total Assessment | $377,440 |
Property Taxes
Parcel Number
14-05-15-4-002-076.000
Land Assessment
$59,880
Improvements Assessment
$317,560
Total Assessment
$377,440
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Walgreens | 3500 Mastin Lake Rd NW
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