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5301 Summerville Rd
Phenix City, AL 36867
Walgreens Phenix City, AL · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- ±13.7-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.
- Across from a Publix-anchored shopping center that is also home to Mavis Tires & Brakes, Anytime Fitness, Marco’s Pizza, Palm Beach Tan, and more.
- Positioned on a hard corner at the signalized intersection of Pierce Road/Riverchase Drive (11,961 VPD) and Summerville Road (9,933 VPD).
EXECUTIVE SUMMARY
CBRE is pleased to exclusively offer for sale the 14,744-square-foot Walgreens situated on 2.96 acres in Phenix City, AL - a component of the Auburn-Opelika, AL MSA (MSA Population: 206,325). The site is subject to a ±13.7-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
14,744 SF
Building Class
B
Year Built
2008
Price
$4,979,520
Price Per SF
$337.73
Cap Rate
6.25%
NOI
$311,220
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
2.96 AC
Parking
75 Spaces (5.09 Spaces per 1,000 SF Leased)
AMENITIES
- Signage
- Signalized Intersection
- Drive Thru
PROPERTY TAXES
| Parcel Number | 14-08-28-0-000-072.000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $461,720 |
PROPERTY TAXES
Parcel Number
14-08-28-0-000-072.000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$461,720
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