Drug Store

Walgreens

2490 Schillinger Rd S, Mobile, AL 36695

Listing Price: $4,210,526

Cap Rate
6.65%
Tenant Name
Walgreens
Years Remaining On Lease
10.2
Guarantor
Corporate Guarantee
Rentable SF
15,120
Lease Type
Double Net
Rent Per Square Feet
$18.52

Investment Overview

Marcus & Millichap is pleased to offer for sale the 100 percent fee simple interest in 2490 Schillinger Road South (The Property), a 15,120 square foot building that is currently leased by Walgreen Co. (Moody’s Rating: ‘Baa2’) with 10.5+ years of term. The Property is situated in Mobile, Alabama, has been occupied by Walgreens since 1998, and recently opted to extend their lease, demonstrating their long-term commitment to this location. The Property sits at the hard corner and signalized intersection of Schillinger Road South and Cottage Hill Road, providing maximum visibility. This offering presents the opportunity to acquire a corporately guaranteed Walgreens property with stable, investment grade income and minimal landlord responsibilities within the dynamic Mobile, Alabama Market.

Investment Highlights

  • Investment Grade Tenancy With Minimal Landlord Responsibilities
  • Positioned Just 20 Miles West of the Burgeoning U.S. Aerospace/Engineering Hub
  • Situated on a 43,000+ VPD Intersection Adjacent to National Retailers
  • High Income Demographics Surrounding Subject Property

Broker of Record

  • Eddie Greenhalgh

    First Vice President Investments

    License(s): AL: 0000882980

    Alabama

Listing Price: $4,210,526

Cap Rate
6.65%
Tenant Name
Walgreens
Years Remaining On Lease
10.2
Guarantor
Corporate Guarantee
Rentable SF
15,120
Lease Type
Double Net
Rent Per Square Feet
$18.52

Investment Highlights

  • Investment Grade Tenancy With Minimal Landlord Responsibilities
  • Positioned Just 20 Miles West of the Burgeoning U.S. Aerospace/Engineering Hub
  • Situated on a 43,000+ VPD Intersection Adjacent to National Retailers
  • High Income Demographics Surrounding Subject Property

Investment Overview

Marcus & Millichap is pleased to offer for sale the 100 percent fee simple interest in 2490 Schillinger Road South (The Property), a 15,120 square foot building that is currently leased by Walgreen Co. (Moody’s Rating: ‘Baa2’) with 10.5+ years of term. The Property is situated in Mobile, Alabama, has been occupied by Walgreens since 1998, and recently opted to extend their lease, demonstrating their long-term commitment to this location. The Property sits at the hard corner and signalized intersection of Schillinger Road South and Cottage Hill Road, providing maximum visibility. This offering presents the opportunity to acquire a corporately guaranteed Walgreens property with stable, investment grade income and minimal landlord responsibilities within the dynamic Mobile, Alabama Market.

Broker of Record

  • Eddie Greenhalgh

    First Vice President Investments

    License(s): AL: 0000882980

    Alabama

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