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813 College Ave 8,500 SF Retail Building Jackson, AL 36545 $2,190,963 ($257.76/SF) 6.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Long term tenant
- Recently upgraded roof installed last year for added value
- Prime location near Main Street with excellent visibility
EXECUTIVE SUMMARY
This building was originally built for Big B Drugs, Inc in January 1985, which was headquartered in Birmingham, Alabama. CVS ended up buying Big B Drugs and has occupied it since then. A 10 year lease extension was executed in December of 2024. The base rent is $66,874.92 plus 2% of the sales over $4,343,746. In October of 2024 a new metal roof was installed over the existing standing roof.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
8,500 SF
Building Class
C
Year Built/Renovated
1997/2024
Price
$2,190,963
Price Per SF
$257.76
Cap Rate
6.75%
NOI
$147,890
Tenancy
Single
Building Height
1 Story
Building FAR
0.30
Lot Size
0.65 AC
Opportunity Zone
Yes
Zoning
MU-2 - Mixed use commercial District. Retail sales, off street parking, 1 parking space per 300 square feet of gross leasable area.
Parking
31 Spaces (3.65 Spaces per 1,000 SF Leased)
Frontage
210’ on College Avenue
AMENITIES
- 24 Hour Access
- Signage
- Tenant Controlled HVAC
- Wheelchair Accessible
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 4203052002002010 | Total Assessment | $104,980 |
| Land Assessment | $17,520 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $87,460 | Tax Year | 2024 Payable 2024 |
PROPERTY TAXES
Parcel Number
4203052002002010
Land Assessment
$17,520
Improvements Assessment
$87,460
Total Assessment
$104,980
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024 Payable 2024
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Presented by
James T. Johnson & Co. LLC
813 College Ave
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