CAP Rate 9.25%
Net Operating Income: $442,000
Lot Size: 1.57 AC
This offering is for the 100% fee simple interest in the land and building. The property is leased to Walgreens under a net lease. The lease calls for minimal landlord obligations. The property benefits from its location on a highly trafficked thoroughfare in a thriving market. The asset is surrounded by national retailers including Walmart Supercenter, Lowe’s, Hobby Lobby and Chick-fil-A The asset also benefits from its location at a signalized hard corner with excellent visibility.
Mobile is a port city on Alabama’s Gulf Coast. The WWII-era USS Alabama battleship is anchored in Battleship Memorial Park. Floats, costumes and photos at the Mobile Carnival Museum illuminate the city’s centuries-old Mardi Gras tradition. The 1850 Cathedral Basilica of the Immaculate Conception features intricate German stained glass. International fine and decorative art is displayed at the Mobile Museum of Art.