Walgreens

2490 Schillinger Rd. - Mobile Alabama 36695

LTV (Loan to Value)	65.00%	Current NOI	$356,000.00
Interest Rate	4.250%	Capital Rate	7.000%
Fixed Term	10 Years	Land Area	+/- 2.02 Acres
Amortization	25 Years	Lease Type	Twenty (20) years
Loan Amount	$3,305,714.10	Property Type	Retail
Payment	$17,908.31	Property Lease	Drug Store
Bulding Size	0 SF	Remaining Terms

Location Description

NNN Lenders is pleased to offer for sale to qualified investors an 14,368 square-foot freestanding Walgreens property located on 2.02 acres in Mobile, Alabama.Walgreens is operating under a twenty (20) year double net (NN) lease with eight (8), five (5) year option periods. The property is strategically located in the market of Mobile, situated to serve the tenant’s targeted demographic, with a population of 49,500 and an average household income of $78,100 within a three (3) mile radius.

Highlights

Walgreens Credit Strength – The subject property is currently leased to Walgreens (S&P: BBB). With over 8,200 locations, Walgreens is…

Property Description

Mobile is the third most populous city in the state of Alabama, the county seat of Mobile County, and Alabama’s only salt water port. It is located at the head of Mobile Bay and the north-central Gulf Coast.It is the largest municipality on the Gulf Coast between New Orleans, Louisiana and St. Petersburg, Florida. It is the principal municipality of the Mobile Metropolitan Statistical Area, a region of 412,992 residents which is composed solely of Mobile County and is the third largest metropolitan statistical area in the state. It is the largest city in the Mobile− Daphne−Fairhope CSA, with a total population of 604,726, the second largest in the state.